The company has entered into a placement agreement with joint placement agents. Under the agreement, the joint placement agents have conditionally agreed to act on behalf of the company to procure no fewer than six placees to subscribe for 15.6 million placement shares at a price of HK$126.66 per share. Assuming no change in the number of issued shares from the date of this announcement to the settlement date, the 15.6 million placement shares represent approximately 20.24% of the existing issued H shares and approximately 4.42% of the existing issued share capital (excluding treasury shares) as of the announcement date. Following the allotment and issue of the placement shares, they will represent approximately 16.84% of the enlarged issued H share capital and approximately 4.24% of the enlarged issued share capital (excluding treasury shares). The placement price of HK$126.66 per share represents a discount of approximately 8.88% to the closing price of HK$139.00 per H share on the Hong Kong Stock Exchange on the last trading day. The gross proceeds from the placement are approximately HK$1.976 billion. After deducting placement commissions and other related costs and expenses, the estimated net proceeds are approximately HK$1.967 billion. The estimated net issue price per placement share is approximately HK$126.09. The net proceeds from the placement are intended to be used for the strategic reserve of the group's core components, supplementing the group's working capital, and for other general corporate purposes. This is to support the group's sustainable development and accelerate the implementation of its global strategy.