Zhitong Finance App News announced from Yu Zhinong (00875) that all the prerequisites contained in the placement agreement have been met, and the placement matters were completed on October 22, 2026 in accordance with the terms and conditions of the placement agreement. A total of 140 million placed shares (accounting for about 16.7% of the Company's issued share capital immediately after completion of the announcement date) have been successfully placed to no less than six undertakers at the placement price of HK$0.24 per share.

The net proceeds from the placement (after deducting all related expenses, including but not limited to placement commissions, legal expenses and advance payments) were approximately HK$32.9 million. As disclosed in these announcements, the Company intends to use the net proceeds from the placement: (i) approximately HK$30 million (approximately 91.2% of the net proceeds) to repay the loan; and (ii) the remaining HK$2.9 million (approximately 8.8% of the net proceeds) as the Group's general working capital. General working capital is intended to be used for the Group's daily operating expenses, including salaries, professional expenses and other administrative expenses.

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