Beijing Xunzhong Communication Technology Co., Ltd. (XUNZHONG) completed its General Mandate H-share placement on 17 September 2026, issuing 11.19 million new H shares at HK$28.20 each. The transaction generated gross proceeds of HK$315.56 million and net proceeds of HK$313.64 million after fees and expenses.

The newly issued shares represent approximately 8.42% of XUNZHONG’s enlarged share capital, increasing total shares outstanding from 121.75 million to 132.94 million. Consequently, the H-share portion of the register rises to 31.31% of total issued shares, up from 25.00%, while the company’s public float remains above the 25% threshold required by Hong Kong listing rules.

At least six independent third-party investors subscribed for the placement; none holds a stake large enough to become a substantial shareholder. Core connected persons now collectively control 20.93% of the company, unchanged in absolute share count but diluted from 22.85% prior to the deal.

XUNZHONG intends to deploy the net proceeds to: 1) build infrastructure and R&D environments for its computing-power business; 2) develop related platforms and products; 3) procure elastic computing power and hosting services; 4) strengthen talent acquisition and team building; 5) support market expansion, ecosystem partnerships and solution delivery; and 6) fund general working capital and corporate needs.

Following completion, registered capital increases to RMB132.94 million, and corresponding amendments to the Articles of Association have been effected without requiring further shareholder approval.