Shangtang disclosed information on the placement of the new Class B shares on the Hong Kong Stock Exchange. On December 18, 2025, the company signed a placement agreement with the placement agent. According to this, the placement agent had conditions and individual agreements to do its best to induce no less than six undertakers to subscribe for 1.75 billion shares. The placement price for each share to be placed was HK$1.80. Class B shares were discounted by approximately 8.63% per share at the closing price of HK$1.97 on December 17, 2025; the total amount of proceeds from the placement is expected to be approximately HK$3.15 billion.

Shangtang disclosed information on the placement of the new Class B shares on the Hong Kong Stock Exchange. On December 18, 2025, the company signed a placement agreement with the placement agent. According to this, the placement agent had conditions and individual agreements to do its best to induce no less than six undertakers to subscribe for 1.75 billion shares. The placement price for each share to be placed was HK$1.80. Class B shares were discounted by approximately 8.63% per share at the closing price of HK$1.97 on December 17, 2025; the total amount of proceeds from the placement is expected to be approximately HK$3.15 billion.