Core Viewpoint - The company, Gao Shan Enterprises (00616), has announced a conditional placement of up to 67 million shares at a price of HKD 0.30 per share, which represents a discount to the market price on the date of the agreement [1][2]. Group 1: Share Placement Details - The maximum number of shares to be placed represents approximately 4.03% of the company's issued share capital as of the announcement date, and about 3.87% assuming all placement shares are issued [1]. - The placement price of HKD 0.30 per share is approximately 10.45% lower than the closing price of HKD 0.335 on December 16, 2025, and about 10.98% lower than the average closing price of HKD 0.337 over the preceding five trading days [1]. - The expected total gross proceeds from the placement, after deducting commissions and related costs, are approximately HKD 20.10 million, with a net amount of about HKD 19.89 million [1]. Group 2: Use of Proceeds - The net proceeds from the placement, estimated at approximately HKD 0.297 per share, will be used to cover additional construction costs for the Fenghua project located at 646, 648, and 648A Castle Peak Road, Kowloon [2]. - The total area of the site for the Fenghua project is approximately 9,206 square feet, and the development plan has been adjusted to convert it into student dormitories due to current market conditions [2].