According to the Zhitong Finance App, Chuangmengtiandi (01119) announced that on November 26, 2021, the company signed a placement agreement with the placement agent. According to this, the placement agent has agreed to act as the company's placement agent, prompting the undertaker to purchase up to 72.28 million new shares at the placement price of HK$5.92 per placed share according to the best effort benchmark. The estimated net proceeds from the placement are expected to be approximately HK$427 million.

On November 28, 2021, the company entered into a Brilliant Seed subscription agreement, a Tencent subscription agreement and an Instant Sparkle subscription agreement. According to this, Brilliant Seed, Tencent Mobility and Instant Sparkle each conditionally agreed to subscribe, and the company has conditionally agreed to distribute and issue 13.141.9 million subscribed shares and approximately 13.1419 million subscribed shares at the subscription price of HK$5.92 per share, and approximately 13.1419 million subscribed shares, respectively and 6.570,900 subscribed shares. Net proceeds from subscription transactions are expected to be approximately HK$194.5 million.

The directors believe that the placement and subscription transactions are aimed at strengthening the Group's financial position and providing long-term funding for the Group's expansion and growth plans.

The proposed use of the proceeds is consistent with the Group's strategic priorities, namely enhancing the company's game development capabilities, further enriching the company's game portfolio and increasing the active user base; at the same time, accelerating the expansion of the group's offline stores and further promoting the development of the trendy gaming industry. Furthermore, the directors believe that it is in the interest of the company to expand the company's shareholder base and capital base.