CN INT DEV CORP (00264) announced that all conditions under the placement agreement have been fulfilled, and the placement was completed on January 27, 2026. A total of 12.916 million placement shares, representing approximately 2.80% of the company's then-issued share capital of 462 million shares immediately prior to the completion and about 2.72% of the enlarged issued share capital following the allotment and issue, were successfully placed with no fewer than six placees at a price of HK$2.16 per share in accordance with the placement agreement's terms. After deducting placement commissions and all related expenses, the net issue price per placement share was approximately HK$2.101. Since the placement shares were not fully subscribed, the gross proceeds raised from the placement amounted to approximately HK$27.90 million, while the net proceeds (after deducting commissions and expenses) totaled approximately HK$27.14 million. The company intends to use the net proceeds to bolster general working capital and strengthen the group's financial position. Approximately HK$11.60 million, or about 42.74% of the net proceeds, will be allocated for purchasing materials, equipment, and covering cost expenses related to leather manufacturing and/or leather and motor vehicle engine extended cleaning services, as well as for other trade businesses. Around HK$9.04 million, representing about 33.31% of the net proceeds, will serve as general working capital for the group, including but not limited to rental payments, staff costs, professional fees, and other general administrative and operational expenses. Furthermore, approximately HK$6.50 million, or about 23.95% of the net proceeds, will be used to repay outstanding debt.