QUANTGROUP (02685) completes placement of a total of 42.908 million placing shares, raising net proceeds of approximately HK$144 million.

QUANTGROUP (02685) has announced that all conditions set out in the placing agreement have been fulfilled, and the placing was completed on September 28, 2026. The joint placing agents have successfully placed a total of 42.908 million placing shares to not fewer than six placees at the placing price of HK$3.40 per placing share, pursuant to the terms and conditions of the placing agreement. The placing shares represent approximately 7.63% of the Company's issued share capital as enlarged by the allotment and issue of the placing shares immediately upon completion (i.e. 563 million shares). The gross proceeds from the placing are approximately HK$146 million. After deducting placing commission and other relevant professional fees and expenses, the net proceeds from the placing are approximately HK$144 million, representing a net issue price of HK$3.35 per placing share. The Company intends to apply the net proceeds from the placing for the following purposes and in the following amounts: (i) approximately 55% of the net proceeds (approximately HK$79.05 million) for the development of the e-commerce business. The proceeds will be mainly used for business expansion of the e-commerce segment, including traffic on the platform APP, user operations, settlement of supply chain payments, channel expansion and other related business expenditures, to support the growth in scale of the e-commerce business. (ii) approximately 15% of the net proceeds (approximately HK$21.56 million) for research and development investment. The proceeds will be invested in technical research and development work, covering remuneration of the technical team, iteration of the data platform and intelligent systems, as well as expenses for cloud server resources, third-party technical services, and new product prototype research and development, so as to continuously enhance the platform's technical capabilities. (iii) approximately 30% of the net proceeds (approximately HK$43.12 million) as general working capital. The proceeds will supplement the Group's daily working capital, meet the liquidity requirements for operations, including administrative, finance and legal, and human resources management expenses, repay operating payables, and reserve a funding buffer for the Group's business development, so as to safeguard the stable operation of the Group's overall business.