BLACK SESAME (02533) rose more than 6% in today's trading session. At the time of writing, the stock was up 5.97%, trading at HK$20.94 with a turnover of HK$125 million. The surge follows the company's recent announcement on March 9th regarding a strategic placement. BLACK SESAME entered into a subscription agreement with Infini Capital, issuing a total of approximately 33,544,600 subscription shares. The subscription price was set at HK$18.88 per share, representing a 2.13% discount to the closing price of HK$19.29 on March 9th. The total proceeds from the placement amount to approximately HK$631 million. According to the announcement, the strategic placement is intended to provide BLACK SESAME with substantial capital and industrial resources. The raised funds will be primarily allocated to the research and development of a new generation of high-performance chips. This includes high-computing-power chips for autonomous driving and robotics applications, as well as edge AI chips for end-user devices. Additionally, the capital will support the establishment of overseas R&D centers to enhance global R&D collaboration. Other key uses of the proceeds will involve accelerating the certification, adaptation, and mass production resource allocation for BLACK SESAME's latest high-performance intelligent driving chips and platforms with key clients. The company also plans to expand its robotics and edge AI product lines to accelerate the commercialization of its products.