CHINAHONGQIAO (01378) announced on November 17, 2025, that Hongqiao Holdings (the company's controlling shareholder), the company, and the placing agent entered into a placing and subscription agreement. Under the agreement, the placing agent conditionally agreed to use reasonable efforts to place the sale shares held by Hongqiao Holdings to independent placees at the placing price. Hongqiao Holdings conditionally agreed to subscribe, and the company conditionally agreed to allot and issue subscription shares to Hongqiao Holdings at the subscription price (same as the placing price), subject to the terms and conditions of the agreement.

The placing price of HK$29.20 per share represents a discount of approximately 9.60% to the closing price of HK$32.30 per share on the Hong Kong Stock Exchange on November 17, 2025 (the date of the agreement). Assuming the issuance and subscription of 400 million shares under the subscription, the net proceeds to the company are expected to be approximately HK$11.49 billion.

The company intends to use the net proceeds for the development and enhancement of its domestic and overseas projects, repayment of existing debt to optimize its capital structure, as well as for working capital and general corporate purposes.