Jinjing Xinneng (01783) plans to raise about HK$1.1 billion for MiniMax strategic subscription to increase AI computing power infrastructure layout

According to the Zhitong Finance App, Jin Jing Xinneng (01783) announced that after the trading session on August 10, 2026, it will enter into a placement and a new subscription agreement, and that the wholly-owned subsidiary will simultaneously issue RMB 472 million, settled in US dollars, with an annual interest rate of 5.00% per annum, and a guaranteed convertible bond due in 2027. The total proceeds from the two transactions are expected to be approximately HK$1,098 million, and the net amount is estimated to be approximately HK$1,078 million. The proceeds will be used to support the company's previously announced acquisition of a Chinese cloud computing and data center service provider, and to supplement the operating and development capital of the business.

According to the announcement, the total amount of shares to be placed is approximately 118 million shares, and the placement price is HK$4.66 per share; it is accompanied by the issuance of convertible bonds with a total principal amount of RMB 472 million, with an initial conversion price of HK$5.22 per share and an annual coupon interest of 5%, which will expire in 2027. Both types of financing were completed with the company's general authorization, and there is no need to submit a separate shareholders' meeting for approval.

Notably, the announcement revealed that MiniMax Group Inc.'s subsidiary is one of the potential undertakers and subscribers, and intends to participate in the placement and subscription of convertible bonds. The company believes that MiniMax, as the world's leading artificial intelligence basic model company, reflects the strategic collaboration between computing power requirements and service capabilities, and is expected to promote future cooperation in computing power resources and intelligent computing infrastructure.

This financing is an important step for Jinjing Xinneng to advance the strategic transformation of AI computing power infrastructure. The company has previously announced the acquisition of cloud computing assets related to Yovole Data Group and the procurement of high-performance servers to accelerate the construction of a complete closed loop of business from infrastructure assets and computing power hardware deployment to customer and ecological collaboration. This placement and convertible bond financing further supplement capital ammunition, helping to strengthen the company's liquidity and financial position, expand the shareholder base, and optimize the capital structure.

Jin Jing Xinneng said that in the future, it will continue to focus on the dual main lines of green energy recovery and AI computing power infrastructure to promote joint efforts in strategic acquisitions, hardware deployment and capital support, and further enhance the company's market awareness and long-term development potential on the Hong Kong stock AI computing power infrastructure circuit.