XUNZHONG (02597) plans to offer approximately 11.19 million shares at a discount of about 19.43%, raising approximately HKD 314 million.

XUNZHONG (02597) announced that on September 10, 2026 (before the trading session on the Stock Exchange), the company entered into a placing agreement with the placing agent, under which the company conditionally agreed to appoint the placing agent, and the placing agent conditionally agreed to act as the companys agent on a best-effort basis to procure not less than six independent subscribers to subscribe for 11.19 million placement shares at a placing price of HK$28.20 per share. The placement shares represent approximately 9.19% of the total number of issued shares (excluding treasury shares) as of the date of this announcement, and approximately 8.42% of the total number of issued shares (excluding treasury shares) after the placement shares are allotted and issued (assuming there are no changes in the issued shares from the date of this announcement up to the date of completion, other than the allotment and issuance of the placement shares). The total nominal value of the placement shares under the placement will be RMB 11.19 million. The placing price of HK$28.20 per placement share represents a discount of approximately 19.43% to (i) the closing price of HK$35.00 per H share on the Stock Exchange on September 9, 2026 (the last trading day); and (ii) the average closing price of HK$34.88 per H share on the Stock Exchange over the last five consecutive trading days up to and including September 9, 2026 (the last trading day), representing a discount of approximately 19.14%. Assuming that all placement shares are fully placed, the total proceeds from the placement and the net proceeds (after deducting commissions and estimated expenses) are expected to be approximately HK$316 million and approximately HK$314 million, respectively. Based on this, the net issue price per placement share will be approximately HK$28.03. The company intends to use the net proceeds from the placement for the following purposes: (i) approximately 38.00% for the construction of computing power business infrastructure and R&D environment; (ii) approximately 22.00% for R&D of computing power business platforms and products; (iii) approximately 15.00% for purchasing flexible computing power and hosting services from third parties; (iv) approximately 8.00% for team building and talent acquisition in the computing power business; (v) approximately 7.00% for market expansion, ecological cooperation, and solution delivery in the computing power business; and (vi) approximately 10.00% for general working capital and general corporate purposes of the group.