HK Stock Market Move | BRETON (01333) rises nearly 3%, receives voluntary lock-up commitments from certain shareholders, has completed share placement to raise funds for overseas solar-plus-storage projects and more.

BRETON (01333) rose nearly 3% in the afternoon session, up 2.93% as of press time at HK$16.87, with turnover of HK$13.9595 million. On the news front, on November 2, BRETON issued an announcement that the Company recently received commitment letters (lock-up commitments) from shareholders of the Company, namely Suzhou Zhongding No. 5 Equity Investment Fund Partnership (Limited Partnership), Suzhou Zhongding No. 5 Qinglan Equity Investment Fund Partnership (Limited Partnership), Guangzhou Naibixin Phase I Venture Capital Fund Partnership (Limited Partnership), Huzhou Qingyun New Journey Equity Investment Partnership (Limited Partnership), Fujian Diquan Equity Investment Partnership (Limited Partnership), Jiaxing Dixin Equity Investment Partnership (Limited Partnership) and Zibo Naying Equity Investment Partnership (Limited Partnership) (collectively the "Relevant Shareholders"). Pursuant to the lock-up commitments, up to and including February 28, 2027, the Relevant Shareholders will not, by any means, directly or indirectly, reduce their holdings of an aggregate of 58,909,700 H shares of the Company. Recently, BRETON announced that it had completed the placing of 18,316,200 shares, raising net proceeds of approximately HK$199 million. The announcement stated that the Company intends to apply: approximately 60% of the net proceeds from the placing for investment in and development of overseas photovoltaic and energy storage projects, expected to be fully utilized by the end of 2027; approximately 20% of the net proceeds from the placing for repayment of the Group's interest-bearing borrowings, expected to be fully utilized by the end of 2026; and approximately 20% of the net proceeds from the placing for working capital and general corporate purposes, expected to be fully utilized by the end of 2027.