On 16 February 2026, Shanghai XNG Holdings Limited (Stock Code: 3666) entered into a placing agreement with China Zhong Heng Finance Group Limited. Under the agreement, up to 442.61 million new shares may be placed on a best effort basis at HK$0.028 per share. The maximum number of these shares represents approximately 16.7% of the existing issued share capital and about 14.3% of the enlarged capital upon completion.

The placing price reflects around a 16.7% premium to the last closing price of HK$0.024 per share and a 2.9% premium over the average closing price of HK$0.027 for the five consecutive trading days before the agreement date. The placing is expected to generate gross proceeds of about HK$12.40 million and net proceeds of around HK$12.10 million, and these funds are intended for general working capital.

The group is principally engaged in operating chain restaurants in Mainland China and Hong Kong. The placement will utilize the existing general mandate approved on 27 June 2025, and the new shares will rank pari passu with the existing shares. Shareholders should note that the transaction remains subject to necessary conditions and may or may not proceed, and are therefore advised to exercise caution in their share dealings.

In the last 12 months, the company raised HK$8.70 million through a share placement in May 2025, fully applied toward general working capital. Shanghai XNG Holdings states that the latest placement aims to strengthen its financial position and broaden its shareholder base.