Botai Auto Union (02889) plans to sell 4.889 million shares at a discount of about 14.39% to raise about HK$578 million

According to the Zhitong Finance App, Botai Auto Federation (02889) announced that on September 8, 2026 (before the trading period), the Company entered into a placement agreement with the placement agent. According to this, the placement agent conditionally and individually agreed to act as the Company's placement agent to do its best to encourage no less than six (6) undertakers to subscribe for up to 4.889 million new H shares at an placement price of HK$120.28 per share.

The placement price is HK$120.28 per share, which is equivalent to: (i) a discount of approximately 14.39% from the closing price of HK$140.50 per share quoted on the Hong Kong Stock Exchange on September 7, 2026 (that is, the last trading day and the date of determination of the placement price); and (ii) the average closing price per share quoted on the Hong Kong Stock Exchange for the last five (5) consecutive trading days immediately prior to the last trading day (excluding that date) of approximately HK$150.34 off.

The number of shares placed accounts for approximately 5.57% of (i) the Company's current issued H shares at the date of this announcement; and (ii) approximately 5.57% of the issued H shares expanded by the Company after allocating and issuing the placed shares (assuming that, apart from allocating and issuing the placed shares, the Company's issued H shares did not change from the date of this announcement to the date the placement was completed).

The total proceeds from the placement are expected to be approximately HK$588 million. The net proceeds from the placement are expected to be approximately HK$578 million (after deducting fees and expenses related to the placement). On this basis, the net price of each placed share is approximately HK$118.30.