UBOX ONLINE (02429) announced that on September 19, 2025, the company entered into a placement agreement with a placing agent. The company agreed to appoint the placing agent, and the placing agent agreed to act as the company's agent to use best efforts to procure not less than 6 placees (who will be institutional professional investors, and they and their ultimate beneficial owners will be independent third parties) to subscribe for up to 157.5 million placement shares at a placement price of HK$2.45 per placement share.

The 157.5 million placement shares under the placement represent approximately 19.96% of the issued H shares as at the date of this announcement and approximately 18.94% of the issued shares, and approximately 16.64% of the issued H shares as enlarged by the allotment and issue of the placement shares and approximately 15.93% of the issued shares (assuming that the number of issued shares of the company remains unchanged from the date of this announcement to the date of completion of the placement).

The placement price of HK$2.45 per placement share represents a discount of approximately 16.95% to the closing price of HK$2.95 per H share as quoted on the Stock Exchange on September 19, 2025.

Assuming all placement shares are fully placed and completed, the gross proceeds from the placement are expected to be approximately HK$386 million in aggregate, while the net proceeds from the placement are expected to be approximately HK$383 million in aggregate. On this basis, the net placement price will be approximately HK$2.43 per placement share.

Approximately 20.0% of the net proceeds from the placement will be used for developing products based on proprietary intellectual property; approximately 20.0% of the net proceeds from the placement will be used to support offline sales channel expansion for products based on proprietary intellectual property; approximately 30.0% of the net proceeds from the placement will be used for the purchase of fixed assets, including but not limited to additional vending machines for the anticipated sales of products based on proprietary intellectual property; and approximately 30.0% of the net proceeds from the placement will be used for working capital and other general corporate purposes.

The directors believe that the placement will be beneficial to enhance the group's liquidity and financial position, broaden the company's shareholder base, optimize the company's capital structure, and support the company's healthy and sustainable development.