Zhitong Finance App News, Weilu Technology Co., Ltd. (01196) issued an announcement. The completion of the placement was implemented on November 4, 2026. 952 million placed shares have been placed to Ms. Jane Zishan at the placement price of HK$0.21 per share. After the placement was completed, Ms. Jane Zishan became a major shareholder.

Since all conditions for completing the old and new subscription items were met, the completion of the old and new subscription items was confirmed on November 13, 2026. The seller has subscribed, and the Company has allotted and issued 952 million old and then newly subscribed shares to the seller at the old to the new subscription price of HK$0.21 per share.

The net proceeds from previous and new subscriptions (after deducting placement commissions and other fees, costs and expenses) were approximately HK$197 million. The Company intends to use the net proceeds from the previous and new subscriptions as follows: (i) approximately HK$85 million to cover trade and other accounts payable; (ii) approximately HK$12 million for construction expenses for the Shenzhen property development project; (iii) approximately HK$18 million to cover design fees and project expenses for the Grenada project; and (iv) the balance of approximately HK$82.2 million for the Group's general working capital purposes, including but not limited to sales and distribution expenses, and operating costs such as leasing and administrative expenses, and legal and professional expenses.

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