Huafa Property lowers private placement cap to 2.65 billion yuan, controlling shareholder lock-up extended to 36 months

Corporate Action
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Summary · why it matters

Huafa Property has adjusted its 2026 A-share private placement plan, reducing the fundraising cap from 3 billion yuan to 2.65 billion yuan. The controlling shareholder, Huafa Group, will correspondingly lower its subscription amount to no more than 2.65 billion yuan. The maximum number of shares to be issued has been raised from 713 million to 808 million, with the calculation base changed to 30 percent of total share capital after excluding treasury shares. Two projects have been removed from the investment list: Hangzhou Wuyu Linchen Court and Zhuhai Huafa Fengjing Bay Phase Two. The allocation of funds to the remaining seven real estate projects remains unchanged. The pricing base date has been shifted from the board resolution announcement date to the first day of the issuance period, eliminating the previously fixed floor price of 4.21 yuan per share. The issue price will now be determined with a floor set at the 20-day average price prior to issuance. Lock-up rules have been tightened: the basic lock-up period for shares subscribed by Huafa Group has been uniformly extended from 18 months to 36 months. If its shareholding exceeds 30 percent, the 36-month lock-up requirement remains in place.

Impact on stocks 2

Others▼ · 2 stocks
Huafa Industrial Co Ltd Zhuhai
600325
± MixedCapitalrelevance

Huafa Property (Zhuhai Huafa) is the subject; the private placement adjustment reduces fundraising cap and extends lock-up, which may signal tighter control but also removes price floor, making impact mixed.

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