Group 1 - The company, Jiangnan Buyi, has signed an agreement with a placement agent to issue 14.535 million shares at a placement price of HKD 18.78 per share, representing a discount of approximately 9.01% compared to the closing price of HKD 20.64 on January 22, 2026 [1] - The number of shares to be placed accounts for about 2.80% of the company's total issued shares and approximately 2.73% of the total issued shares after the placement is completed [1] - The total expected proceeds from the placement are approximately HKD 273 million, with a net amount of about HKD 270 million after deducting related costs and expenses [1] Group 2 - The net proceeds from the placement will be used to strengthen brand business development, invest in research and development to further enhance overall market competitiveness, as well as for general and corporate purposes [1]