According to Zhitong Finance App, Kexuan Dynamics Holdings (00476) issued an announcement. On July 24, 2026 (after the trading period), the Company entered into a subscription agreement with the subscriber. According to this, the subscriber conditionally agreed to subscribe, and the Company conditionally agreed to allocate and issue a total of 31 million subscribed shares at a subscription price of HK$0.50 per subscription share.
The subscription price of HK$0.50 per subscription share is (i) the closing price of the shares as reported on the Stock Exchange on the date of the subscription agreement at a premium of HK$0.44 per share of approximately 13.64%. The subscribed shares are equivalent to (i) approximately 9.55% of the Company's current issued share capital of 325 million shares as of the date of this announcement; and (ii) approximately 8.72% of the issued share capital of the 356 million shares extended by the Company through allocation and issuance of subscribed shares (subject to completion of subscription matters) (assuming that there will be no change in the Company's issued share capital other than the allocation and issuance of subscribed shares). The total face value of the subscribed shares under the subscription terms will be HK$1.55 million.
The total amount of proceeds from the subscription is expected to be HK$15.5 million (after deducting all relevant professional fees and other expenses of approximately HK$20,000 to be borne by the Company under the subscription) and the net proceeds are approximately HK$15.48 million, which is equivalent to a net subscription price of approximately HK$0.4994 per subscribed share. The directors intend to use the net proceeds from the subscription to (i) approximately HK$5.48 million to expand the electric commercial solutions business; (ii) approximately HK$7 million to repay the Group's financial liabilities (including but not limited to outstanding amounts and other payables relating to the Chongqing arbitration); and (iii) approximately HK$3 million as the Group's general working capital.