Core Viewpoint - The company, China Shangcheng (02330), has announced a placement agreement to issue up to 75.4743 million new shares at a price of HKD 0.180 per share, representing a discount of approximately 7.69% from the closing price of HKD 0.195 on October 16, 2025 [1] Group 1: Placement Details - The placement will be conducted through a placement agent and is expected to involve at least six subscribers [1] - The new shares represent about 16.67% of the enlarged issued share capital post-placement [1] - The estimated net proceeds from the placement are approximately HKD 13.52 million [1] Group 2: Use of Proceeds - The company intends to use the net proceeds for general working capital, which includes employee costs, professional fees, rent, and general administrative and operational expenses [1]