Hainan Drinda New Energy Technology (02865) completed the placement of 18.682 million shares, raising approximately HK$398 million net.

Hainan Drinda New Energy Technology (02865) announces that, in accordance with the terms and conditions of the placement agreement, the placement was completed on February 2, 2026. All the conditions precedent stated in the placement agreement have been fulfilled. The company successfully placed a total of 18.682 million new H shares through the placement agent at a price of HK$22.00 per share. According to the terms and conditions of the placement agreement, a total of 18.682 million placement shares (equivalent to approximately 22.75% of the enlarged H shares after the placement and issue of new shares; and approximately 6.04% of the total issued shares (excluding treasury shares) after the placement and issue of new shares) were successfully placed to at least six placees by the placement agent at a price of HK$22.00 per share. The net proceeds from the placement are expected to be approximately HK$398 million.