Core Viewpoint - Zhonglian Development Holdings (00264) has successfully completed a placement of 15 million shares at a price of HKD 1.75 per share, raising approximately HKD 25.55 million for general operational funding and to enhance the group's financial position [1] Fund Allocation - Approximately HKD 6.06 million will be used to purchase materials, equipment, and costs related to leather manufacturing and clean services for leather and automotive engines [1] - About HKD 13.69 million is allocated for general operational funding, including rent, employee costs, professional fees, and other administrative and operational expenses [1] - Around HKD 2.94 million will be used to settle outstanding payables [1] - The remaining approximately HKD 2.86 million is earmarked for new business development opportunities, including but not limited to Web3 technology applications [1]