Shangtang Technology (Stock code: 00020.HK) is expected to raise 3.15 billion Hong Kong dollars to continue expanding the scale of its large devices and increasing the proportion of localization.

According to the China Securities APP, on the morning of December 18, SenseTime Technology (00020.HK) announced on the Hong Kong Stock Exchange to issue new Class B shares under general authorization. The company will issue 1.75 billion subscription shares before December 18, 2025 (before the trading hours of the Hong Kong Stock Exchange). The total amount of the subscription is expected to be approximately HK$3.15 billion. This subscription has received enthusiastic responses from six institutions, reflecting the market's strong confidence in the long-term value and development prospects of SenseTime Technology.