CHINA NEXT-GEN (03928) announced that on February 10, 2026, the placing agent entered into a placing agreement with the company. The placing agent has agreed to act as the company's agent and, on a best-efforts basis, will procure no fewer than six placees to subscribe for up to 16 million placing shares. The placing price is set at HKD 8.88 per share. The placing shares represent approximately 3.23% of the company's enlarged issued share capital. The placing price of HKD 8.88 per share represents a discount of approximately 19.42% compared to the closing price of HKD 11.02 per share on the Stock Exchange on the last trading day. Assuming all placing shares are fully subscribed, the gross proceeds from the placing are estimated to be approximately HKD 142 million, with net proceeds (after deducting placing commissions and all related expenses) expected to be approximately HKD 141 million. On this basis, the net issue price per placing share will be approximately HKD 8.80.