On May 21, DiPu Technology fell 5.63% at open, trading at 59.5 HKD/share, with trading volume of approximately HK$3.37 million.

On the news front, the company announced prior to the trading session that it had entered into a placement agreement to issue 7.942 million new H shares at HK$50.58 per share, representing a discount of approximately 19.78% to the May 20 closing price of HK$63.05. The estimated net proceeds are approximately HK$395 million. Around 70% of the proceeds will be allocated to overseas market expansion, 20% to strategic investments and acquisitions, and 10% to general working capital.

The placement follows a sharp multi-day rally driven by the company's inclusion in the Forbes China AI Enterprise TOP 50 list, during which the stock surged over 13% on May 18 alone and continued to climb on May 19 and 20. The deeply discounted share issuance, representing about 2.43% of outstanding shares, has triggered concerns over dilution and profit-taking, creating clear downward pressure on the stock at open.

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