News: ZENERGY raises HKD 500 million through an 8% discounted placement
Jiangsu ZENERGY Battery Technology Co., Ltd. announced the placement of 45.921 million new H shares, raising CNY 504 million, with a placement price of CNY 10.98, representing a discount of 7.89% compared to the previous closing price. The funds will be used for the construction of a new production facility, all-solid-state battery pilot line, and research and development activities. The company's revenue in the first half of the year was CNY 3.172 billion, a year-on-year increase of 71.9%, with a net profit of CNY 222 million, turning a profit from a loss. The stock price opened lower on Friday at HKD 11.01, down 7.63%
Lithium-ion battery manufacturer ZENERGY Battery Technology Co., Ltd. (3677.HK) announced on Friday that it plans to place 45.921 million new H shares, accounting for 3.09% of the enlarged issued H shares and 1.8% of the total issued shares, raising HKD 504 million, with a placement price of HKD 10.98 per share, a discount of 7.89% compared to the previous day's closing price of HKD 11.92.
The company stated that it intends to use approximately 70% of the net proceeds from the placement to support the construction, equipment purchase, and contingency expenses related to the second phase of the new production plant in Changshu; about 10% for the construction of the pilot line for all-solid-state batteries; about 10% for research and development activities; and about 10% for working capital and general corporate purposes.
ZENERGY was listed on the Hong Kong Stock Exchange in April this year. In the first half of this year, the company achieved revenue of HKD 3.172 billion, a year-on-year increase of 71.9%, with revenue from power batteries reaching HKD 2.985 billion, a year-on-year surge of 81.9%; the gross profit margin increased significantly from 9.9% in the same period last year to 17.9%; and net profit was HKD 222 million, turning a profit from a loss.
The company's stock price opened lower on Friday, reporting HKD 11.01 at noon break, down 7.63%. Since its listing, the stock has risen approximately 30%.
Li Shida
