Core Viewpoint - 越疆科技 plans to raise approximately 780 million HKD through the issuance of new H-shares, with the funds allocated for research and development in smart robotics and other corporate purposes [1] Group 1: Financing Details - The company will issue 16,660,000 new H-shares at a price of 46.80 HKD per share, representing a discount of about 10.3% compared to the previous trading day's closing price of 52.20 HKD [1] - The total funds raised are expected to be around 780 million HKD, with a net amount of approximately 770 million HKD after expenses [1] - The new shares will account for approximately 3.94% of the existing issued share capital and about 3.79% of the enlarged share capital post-issuance [1] Group 2: Company Overview - 越疆科技 is a leading enterprise in China focused on the development, manufacturing, and commercialization of collaborative robots, including high-speed collaborative robots and humanoid robots [1] - The funds raised will be utilized for smart robotics technology research, investments in the robotics value chain, strengthening sales channels, and general corporate purposes [1] - The issuance is based on a general authorization granted by the shareholders' meeting and is expected to be completed by November 21, 2025 [1]

Core Viewpoint - The 20th China International Small and Medium Enterprises Expo (CISME) showcased the resilience and vitality of over 60 million SMEs in China, highlighting their role in driving economic stability and innovation amidst complex external environments [2][3]. Group 1: Economic Contribution of SMEs - SMEs are a significant source of economic resilience, with over 10,000 buyers attending the CISME and achieving intended transaction amounts exceeding 100 billion yuan [1]. - By the end of 2024, the number of registered enterprises in China is projected to reach 61.226 million, with SMEs accounting for over 60 million, representing a growth of approximately 3.6 times since the end of 2012 [1][2]. - In the first five months of 2025, the added value of industrial SMEs increased by 8.0% year-on-year, with 28 out of 31 manufacturing sectors maintaining growth [3]. Group 2: Innovation and Technology - SMEs are becoming pioneers in technological innovation, with 140,000 specialized and innovative enterprises and 14,600 "little giant" firms contributing to key segments of the global supply chain [4]. - Notable advancements include high-performance collaborative robots and surgical robots achieving precision operations of 0.1 millimeters, showcasing the shift from scale advantages to technology empowerment in "Made in China" [4]. - Over 60% of "little giant" enterprises focus on industrial foundational sectors, with nearly 80% involved in key industrial chain segments, actively participating in major engineering projects [4]. Group 3: Global Market Integration - SMEs serve as vital links between "Made in China" and global markets, leveraging flexibility and rapid response capabilities to become key players in the global supply chain [5]. - Examples include a smart manufacturing company from Shenyang establishing a joint venture in Saudi Arabia, localizing production while introducing Chinese manufacturing standards to the Middle East [5]. - The emphasis on specialized and innovative practices at international exhibitions indicates that SMEs are crucial in reshaping industrial chains and enhancing China's economic competitiveness [5].