Zhitong Finance App News, Xunzhong Communications (02597) issued an announcement. On October 23, 2026, the company signed a placement agreement with the placement agent. The placement agent plans to induce no less than 6 independent undertakers to subscribe for 3.55 million placement shares. The placement price is HK$29.00 per placement share. Placed shares account for approximately 2.60% of the total number of issued shares expanded through allotment and issuance of placed shares. The placement price is HK$29.00 per share, a discount of approximately 14.35% from the closing price of HK$33.86 per H share as reported on the Stock Exchange on the last trading day.
Assuming that all of the placed shares are fully placed, the total proceeds and net proceeds from the placement are expected to be approximately HK$103 million and approximately HK$102 million respectively. On this basis, the net issue price for each placed share will be approximately HK$28.82. The net proceeds from the placement will mainly be used to integrate model services (MaaS) and intelligent capabilities into the Group's existing cloud communication platform-as-a-service (PaaS) platforms and software-as-a-service (SaaS) products and enhance the company's computing power platform construction, and promote large-scale deployment of artificial intelligence capabilities on the Group's platforms and products, including: upgrading computing power equipment to configure the MaaS system; platform upgrades, building MaaS platforms, and upgrading the Group's PaaS platform and SaaS products to enhance the performance, reliability and scalability of the Group's platform and products Performance and processing ability; and supplementary working capital and general corporate purposes.