Shang Hai Zheng Quan Bao·2025-09-18 20:44Group 1 - The company held its 13th meeting of the 11th Board of Directors on September 17, 2025, via communication, with all 7 directors present, ensuring the legality and validity of the meeting and resolutions passed [2][3][4] - The Board approved a proposal to exercise general authorization for the placement of new H-shares on the Hong Kong Stock Exchange [3][6][19] - The placement involves issuing 68,000,000 shares, representing approximately 20% of the existing H-shares and about 2.01% of the total issued shares [7][8] Group 2 - The placement price is set at HKD 15.92 per share, reflecting a discount of approximately 7.98% compared to the last trading day's closing price of HKD 17.30 and a 6.81% discount to the average closing price over the last five trading days [8] - The expected total proceeds from the placement, assuming full subscription, are approximately HKD 1,082.56 million, with a net amount of about HKD 1,074.84 million after deducting related costs [16] - The net proceeds will be allocated equally for research and development and for expanding the company's sales channels, each receiving approximately HKD 537.42 million [16][20] Group 3 - The company is undergoing a significant transformation driven by the "dual carbon" initiative, with strong demand for renewable energy and related equipment [20] - The company has not issued any H-shares under the general authorization prior to this announcement, which was extended in previous shareholder meetings [19][21] - The placement is expected to support the company's operational activities and maintain its competitive edge in the industry [20]