Hainan Drinda New Energy Technology (02865) proposes to offer a discount of approximately 1.08% for the sale of up to 18.682 million shares, raising approximately HK$398 million.

Hainan Drinda New Energy Technology (02865) announced that on January 21, 2026, the company entered into a placement agreement with the placing agent. The placing agent has conditionally agreed to use its best efforts to procure not less than six placees to subscribe for up to a total of 18.682 million shares at a placement price of HK$22.00 per share, representing a discount of approximately 1.08% to the closing market price of H shares of HK$22.24 per share on the same day. Assuming all placement shares are fully allocated, the placement shares will represent approximately 22.75% of the existing issued H shares and approximately 6.04% of the existing issued share capital after the issuance and placement of shares. Assuming all placement shares are fully allocated, the estimated total proceeds and net proceeds from the placement are expected to be approximately HK$411 million and HK$398 million respectively. The estimated net placement price after deducting expenses and costs is approximately HK$21.29 per share. The net proceeds from the placement are intended to be used for the following purposes: approximately 45% for research and production of space photovoltaic battery-related products; approximately 45% for equity investment and cooperation in the commercial space industry; and approximately 10% for supplementing the company's operating capital.