Zhihua Group (01842) completed the issuance of 240 million shares to raise approximately HK$7.8 million

According to the Zhitong Finance App, Zhihua Group (01842) issued an announcement. All conditions set out in the subscription agreement have been met, and the completion was implemented on August 31, 2026. A total of 240 million subscribed shares (accounting for 20% of the company's issued shares immediately prior to completion and approximately 16.67% of the total number of shares issued by the company after expansion through allotment and issuance of subscription shares) have been successfully allocated and issued to subscribers at the subscription price of HK$0.033 per subscription share. The total amount of proceeds raised from the self-subscription process was HK$7.92 million, while net proceeds after deducting all related expenses were approximately HK$7.8 million. The net proceeds are to be used to supplement the Group's general working capital, of which approximately 50%, 20% and 30% will be distributed to staff costs, sales and distribution expenses, and general administrative expenses resulting from the Group's daily operations, respectively.