According to Zhitong Finance App, Olefite Electric Vehicle New Materials (06128.HK) announced that on October 13, 2026, the company plans to place a maximum total of 188 million shares to be placed, which is equivalent to about 19.99% of the company's current issued share capital at the date of this announcement; and about 16.67% of the company's issued share capital after expanding the allocation and issuance of placed shares. The placement price was HK$0.050 per share, a discount of approximately 1.96% from the closing price of HK$0.051 per share on October 13. Assuming that all placed shares are successfully placed in accordance with the placement agreement, the total proceeds from the placement will be approximately HK$9.413 million, while the net proceeds from the placement will be approximately HK$8.9 million. The directors intend to use the net proceeds to repay debts and supplement the Group's working capital to support its business operations.

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