Laopu Gold Co., Ltd. (Stock Code: 6181) disclosed on October 21, 2025, that it entered into a placing agreement with Morgan Stanley Asia Limited and Goldman Sachs (Asia) L.L.C. Under the arrangement, 3,711,800 new H shares will be placed at HK$732.49 per share, representing a discount of approximately 4.50% to the HK$767.00 closing price on that day. The placement shares account for about 2.66% of the total H shares and, assuming full allotment, will represent around 2.10% of the company’s enlarged total share capital.

Based on the terms of the agreement, the transaction could generate gross proceeds of about HK$2,718.86 million. After commissioning and related expenses, management estimates net proceeds of approximately HK$2,706.76 million, implying a net issue price of around HK$729.23 per share. According to the announcement, 70% of the proceeds will be allocated for inventory reserves, 10% for boutique expansion and optimization, and 20% toward general working capital and corporate purposes.

The placement shares will be issued under a general mandate granted on May 20, 2025, so no additional shareholder approval is required. Completion of the placement is subject to several conditions, including approval for listing on the Hong Kong Stock Exchange; the transaction may not proceed if those conditions remain unfulfilled. The company advises shareholders and potential investors to exercise caution when dealing in its securities.