QUANTGROUP (02685) proposes to issue up to 48.5294 million placing shares at a discount of approximately 15.32%, raising net proceeds of approximately HK$162.6 million.

QUANTGROUP (02685) announces that on September 16, 2026, the Company entered into a placing agreement with the joint placing agents, pursuant to which the Company agreed to appoint the joint placing agents, and each joint placing agent conditionally agreed to act as agent of the Company to use its best efforts to procure not less than a total of six placees to subscribe for up to 48,529,400 placing shares at the placing price of HK$3.40 per share, subject to the terms and conditions set out in the placing agreement. The placing price of HK$3.40 per share represents a discount of approximately 15.32% to the closing price of HK$4.015 per share as quoted on the Stock Exchange on September 16, 2026. The placing shares represent approximately 8.54% of the enlarged issued share capital of the Company. Assuming all the placing shares are placed, the gross proceeds from the placing are expected to be approximately HK$165 million, and the net proceeds from the placing are expected to be approximately HK$162.6 million, representing an estimated net placing price of approximately HK$3.35 per placing share. The Company intends to apply the proceeds as follows: (i) Approximately 55% for the development of the e-commerce business. The proceeds will be mainly used for business expansion of the e-commerce segment, including platform APP traffic acquisition, user operations, supply chain payment settlement, channel expansion and other related business expenditures, to support the growth of the e-commerce business scale. (ii) Approximately 15% for research and development investment. The proceeds will be invested in technology research and development work, covering technical team remuneration, iteration of data platforms and intelligent systems, as well as expenses for cloud server resources, third-party technical services, and new product prototype research and development, to continuously enhance the platform's technical capabilities. (iii) Approximately 30% as general working capital. The proceeds will supplement the Group's daily working capital, meet the liquidity requirements for operations, including administrative, finance and legal, human resources and other management expenses, repay operating payables, and reserve a funding buffer for the Group's business development, to safeguard the stable operation of the Group's overall business.