Xianjian Technology (01302) plans to discount about 3.61% by issuing 926 million subscription shares to raise a net of about HK$1.47 billion

According to Zhitong Finance App News, Xianjian Technology (01302) announced that on November 6, 2026 (after the trading period), the company signed a subscription agreement with the subscriber. According to this, the company has conditionally agreed to allocate and issue, and the subscriber has already agreed to subscribe for a total of 926 million subscribed shares, carried out in two batches, including 371 million shares in the first batch and 556 million shares subscribed in the second batch. The subscribed shares account for (i) about 20.00% of the total number of issued shares at the date of this announcement; and (ii) about 16.67% of the total number of issued shares after being allocated and extended by the issuance of all subscribed shares, assuming that there are no other changes in the issued share capital of the Company between the date of this announcement and the completion of the second batch.

The subscription price of HK$1.60 per share was discounted by approximately 3.61% compared to the closing price of HK$1.66 per share reported by the Stock Exchange on the date of the subscription agreement.

The total proceeds from the subscription will total approximately HK$1.48 billion, and the net proceeds will be approximately HK$1.47 billion (after deducting subscription expenses). The directors intend to use (i) about 60% of the net proceeds to accelerate the in-depth layout of the Group's internationalization strategy; and (ii) use approximately 40% of the net proceeds to enrich and expand the Group's existing product portfolio and pipeline.

Under the terms and conditions of the first batch of subscriptions, (i) Mr. Xie Yuehui intends to resign as Executive Director, Chairman and CEO of the Company, a member of the Remuneration Committee and a member of the Nomination Committee; (ii) Mr. Li Zhenfu is to be appointed as Chairman and Non-Executive Director; (iii) Mr. Xie Yang is to be appointed as an executive director and CEO; (iv) Dr. Zhao Zhong is to be appointed as a non-executive director; and (v) Mr. Yuan Quanwei is to be appointed as the Company's Chief Financial Officer, Company Secretary and Authorized Representative under section 3.05 of the Listing Rules, effective from the date of completion of the first batch.

Furthermore, on November 6, 2026, the Company and Mr. Tse Yuehui entered into a consultancy service agreement. According to this, Mr. Tse Yuehui was appointed as an advisor to the Company to provide consulting services to the Company for a period of three years. It is anticipated that Mr. Tse Yuehui will resign as Executive Director, Chairman and CEO of the Company.