Jihong Technology announced it will place 9.37 million new shares at HK$12.24 per share, representing a discount of about 17.02% to the previous day's H-share closing price of HK$14.75. Assuming full placement, net proceeds will be approximately HK$113 million, of which 80% will be used to advance the global expansion and development of the company's cross-border social e-commerce business, 10% to optimize the existing supply chain network and expand the paper-based fast-moving consumer goods packaging business, and the remaining 10% as working capital and for general corporate purposes. The placement shares represent about 12.13% of the enlarged issued H-share capital and 2.09% of the total issued shares. In the first quarter of 2026, the company achieved revenue of 1.804 billion yuan and net profit attributable to the parent of 72.36 million yuan.
Xiamen Jihong Package Technology LtdPlacement at 17% discount dilutes existing shareholders, raising HK$113M but at a steep discount.