Shanghai Biren Technology Co., Ltd. (BIREN TECH, 06082) has signed a placing agreement with China International Capital Corporation Hong Kong Securities and CLSA to issue 153.00 million new H shares at HK$46.20 each. The best-efforts deal, announced on 4 July 2026, is conducted under the company’s existing general mandate and requires no further shareholder approval.

The new shares equate to 12.74% of BIREN TECH’s current H-share capital and 6.27% of total issued shares. Post-placement, H shares will represent 52.23% of the enlarged share capital, while total shares outstanding will rise to 2.59 billion.

Pricing represents: • 9.94% discount to the 3 July 2026 closing price of HK$51.30 • 17.53% discount to the five-day average close of HK$56.02

Gross proceeds are expected at HK$7.07 billion, with estimated net proceeds of HK$7.04 billion, implying a net issue price of roughly HK$46.00 per share. The placement consumes 31.37% of the 487.77 million-share general mandate approved on 15 June 2026.

Planned allocation of net proceeds (target utilisation by end-2028 unless stated): • 60% (HK$4.22 billion) – accelerate commercialization and production ramp-up of next-generation GPGPU products, including customer proofs-of-concept, rack-level solutions and manufacturing scale-up (by end-2027). • 20% (HK$1.41 billion) – R&D for cutting-edge technologies such as heterogeneous integration, near-memory compute, advanced packaging and optical interconnects. • 10% (HK$0.70 billion) – strategic investments and acquisitions that enhance technology or supply-chain synergies. • 10% (HK$0.70 billion) – working capital and general corporate purposes.

As at 30 June 2026, BIREN TECH had HK$4.28 billion of unutilised proceeds from its January 2026 IPO, earmarked for previously disclosed R&D and commercialization initiatives.

Completion of the placement is subject to Hong Kong Stock Exchange listing approval and other customary conditions, with a long-stop date of 8 July 2026. The company has undertaken a 90-day lock-up on further share issuances, excluding employee incentive schemes and scrip dividends.

Following completion, the company’s registered capital will increase to RMB51.84 million, and amendments to the Articles of Association reflecting the enlarged share capital will take effect automatically. Shareholders and investors are advised to monitor fulfilment of closing conditions when dealing in BIREN TECH shares.