ZHIDA TECH (02650) saw its share price climb more than 8% during the morning session, before trimming gains to trade 3.08% higher at HK$11.04 at the time of writing, with turnover reaching HK$121 million.

The company announced on September 23, 2026 its intention to place up to 23,670,550 placement shares, representing approximately 7.44% of the total issued H-shares as of the announcement date and about 6.93% of the enlarged total issued H-shares upon completion of the placement. The placement price is set at HK$8.77 per share.

Assuming full subscription of the placement shares, the company expects gross proceeds of approximately HK$207.6 million and net proceeds of around HK$203 million.

According to the announcement, the net proceeds will be allocated as follows: 20% for the construction of new production facilities and purchase of equipment for the group's energy management services; 30% for acquisitions related to the group's deployment of public charging infrastructure; 30% for investments in upstream and downstream businesses engaged in robotics product manufacturing; and 20% as general working capital for the group.