On September 28, ZHIDA TECH fell 8.01% in regular trading, trading at HK$10.12 per share, with turnover of approximately HK$70.70 million. The decline was driven by the dilution effect following the completion of a discounted share placement.
The company completed the placement of 23,670,550 new H shares on September 25 at HK$8.77 per share, representing a 17.11% discount to the pre-placement closing price of HK$10.58. The placement raised net proceeds of approximately HK$203.4 million. Total issued shares increased from 318 million to 342 million, resulting in a 7.44% equity dilution. Public H-share holders saw their combined stake reduced from 32.90% to 30.62%. The placement price remains at a notable discount to the current trading price, amplifying short-term selling pressure as early profit-takers exit positions.
The company plans to allocate 30% of net proceeds toward public charging infrastructure acquisitions, 30% toward robotics investments, and 20% each toward new energy-management facilities and working capital.
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