Hongqiao Holdings, a subsidiary of China Hongqiao (01378), plans to raise no more than 12 billion yuan in capital

According to Zhitong Finance App, China Hongqiao (01378) announced that Hongqiao Holdings (002379.SZ) (a non-wholly-owned subsidiary of the Company) plans to issue shares to no more than 35 specific investors through a non-public offering. It plans to raise up to a total amount of not more than RMB 12 billion (equivalent to approximately HK$13.863 billion) for its wind power projects, photovoltaic projects, aluminum deep processing projects, and bank loan repayment and supplementary working capital.

On July 31, 2026, the Board approved the proposed placement. If the proposed placement is implemented, the directors expect that the issuance will result in the company's shares in Hongqiao Holdings being diluted by no more than 10% (subject to the final issuance scale). The proposed placement will be deemed to constitute a sale of the Company's shares in Hongqiao Holdings in accordance with section 14.29 of the Listing Rules.

The directors believe that the proposed placement will provide additional capital for Hongqiao Holdings to fund its major wind power generation, photovoltaic power generation and aluminum deep processing projects, and ensure the smooth implementation of its business expansion and green energy transformation plans; improve Hongqiao Holdings' balance ratio and increase its working capital, thereby enhancing the operating performance and profitability of Hongqiao Holdings, thereby improving the Group's overall profitability and competitiveness.