HK Stock Market Move | Hainan Drinda New Energy Technology (02865) rises nearly 6%, planning to issue approximately 1.08% of new shares at a discount to raise funds. The proceeds will be used for research and development of solar photovoltaic products related to space.

Hainan Drinda New Energy Technology (02865) rose nearly 6%, as of the time of publication, it rose 5.22% to 23.4 Hong Kong dollars, with a turnover of 38.6409 million Hong Kong dollars. On the news front, Hainan Drinda New Energy Technology announced that on January 21, 2026, the company entered into a placing agreement with a placing agent. The placing agent has conditionally agreed to use its best efforts to encourage at least six placees to purchase a maximum of 18.682 million shares of placing shares at a placing price of 22.00 Hong Kong dollars per share, representing a discount of approximately 1.08% compared to the closing market price of H shares on the Stock Exchange on January 21, 2026. Assuming all the placing shares are fully allocated, the placing shares will account for approximately 22.75% of the existing issued H shares and approximately 6.04% of the existing issued shares. Assuming all the placing shares are fully allocated, the estimated total gross proceeds and net proceeds of the placing are expected to be approximately 4.11 billion Hong Kong dollars and approximately 3.98 billion Hong Kong dollars, respectively. After deducting such expenses, costs, and expenses, the estimated net placing price is approximately 21.29 Hong Kong dollars per placing share. The net proceeds of the placing are intended to be used for the following purposes: approximately 45% for research and production of space photovoltaic products; approximately 45% for equity investments and cooperation in the commercial aerospace sector; and approximately 10% for supplementing the company's operating funds.