According to Zhitong Finance App News, Jingfang Pharmaceutical-B (02595) announced that on July 14, 2026 (after the trading period), the company signed a placement agreement with the placement agent. According to this, the placement agent has agreed to act as the company's agent and do its best to induce a total of no less than six undertakers to purchase 13.6 million new H shares at an placement price of HK$34.69 per H share in accordance with the terms and conditions set forth in the placement agreement.
Placed shares account for approximately 4.02% of the issued H shares and 3.67% of the total number of issued shares, and about 3.87% of the issued H shares and 3.54% of the total number of issued shares after being allocated and issued as an expansion of the placed shares (assuming that, apart from the allotted and issued shares, there is no change in the issued shares of the Company from the date of this announcement until the date of delivery). The total face value of the shares to be placed under the placement will be RMB 1.36 million.
The placement price of HK$34.69 per placement share is determined by the Company after fair negotiations with the placement agent, and is approximately 3.49% off of (i) HK$38.42 per H share from the closing price of H shares reported on the Stock Exchange on July 14, 2026 (that is, the date of the placement agreement); and (ii) the average closing price of H shares reported on the Stock Exchange on the five consecutive trading days immediately prior to the date of the placement agreement.
Assuming that all 13.6 million shares of the placement are subscribed, the total proceeds at the time of delivery will be HK$472 million, while the net proceeds from the placement (after deducting placement commissions and other related expenses and professional expenses) are estimated to be HK$467 million. Based on this, the net issue price for each placed share will be approximately HK$34.33.
The net proceeds from the placement are intended to be used for the following purposes: (1) approximately 75% of the net proceeds will be used to advance the core product RAS inhibitors and other innovative therapies (including GFH276, GFS202A and GFS784); (2) approximately 15% of the net proceeds will be used to enhance the company's R&D technology platform; (3) approximately 10% of the net proceeds will be used to supplement working capital and other general corporate purposes.