CHINA NEW CONS(08275) plans to discount approximately 4.76% of the maximum 144 million shares for sale, raising a net of approximately 14.2 million Hong Kong dollars.

CHINA NEW CONS (08275) announced that on November 24, 2025 (after trading hours), it entered into a placing agreement with the placing agent. According to the agreement, the placing agent agreed to use its best efforts to place up to 144 million shares at a price of approximately HK$0.10 per share to no fewer than 6 placees. Assuming no changes in the issued share capital of the company between the date of this announcement and the completion date, the maximum number of placing shares would represent approximately 15.00% of the enlarged issued share capital of the company. The placing shares will be issued under the general mandate and no approval from shareholders will be required. The placing price of HK$0.10 per share was determined after fair negotiation between the company and the placing agent, representing a discount of approximately 4.76% compared to the closing market price of HK$0.105 on the Exchange on November 24, 2025. It is estimated that the maximum total proceeds and net proceeds from the placing will be approximately HK$14.4 million and HK$14.2 million, respectively. The company intends to utilize the net proceeds from the placing as follows: (i) around HK$7.2 million, or 50.70% of the net proceeds, will be allocated for the purchase of machinery for leasing and business purposes; and (ii) approximately HK$7 million, or 49.30% of the net proceeds, will be used for the company's financial services business (including but not limited to lending business).