QYUNS-B (02509) announced that on August 18, 2025 (before trading hours), the company entered into a placement agreement with a placing agent. Under the agreement, the placing agent has conditionally agreed to act as the company's placing agent to place 5 million placing shares to a placee (who, together with its ultimate beneficial owners (if applicable), will be independent third parties) at a placing price of HK$20.0 per placing share.

Assuming no change in the number of issued shares from the date of this announcement to the completion date of the placing, the placing shares under the placing represent approximately (i) 2.25% of the issued shares as at the date of this announcement; and (ii) approximately 2.20% of the issued shares as enlarged by the allotment and issue of the placing shares.

The placing price of HK$20.0 per placing share represents a discount of approximately 10.95% to the closing price of HK$22.46 per H share as quoted on the Stock Exchange on August 15, 2025 (being the last trading day and the last trading day before the determination of the placing price).

Upon completion of the placing, and assuming all placing shares are successfully placed, the net proceeds from the placing (after deducting placing expenses and other related costs and expenses of the placing) are expected to be approximately HK$99 million.

The company intends to allocate the net proceeds from the placing (after deducting issuance expenses) as follows: approximately 60% of the net proceeds from the placing will be used to repay existing interest-bearing bank borrowings. During the first half of 2025, the company incurred additional bank borrowings to finance its research and development expenses, resulting in an increase in its debt-to-asset ratio. Repaying such borrowings with the net proceeds will strengthen the company's financial position, reduce its interest-bearing debt ratio, decrease its finance expenses, and ultimately reduce overall financial risks; approximately 30% of the net proceeds from the placing will be used for the company's new pipeline research and development, including QX027N, QX031N and QX035N; and approximately 10% of the net proceeds from the placing will be used as working capital and other corporate purposes.