According to the Zhitong Finance App, Haixin Group (01850) announced that the conditions for the placement have been met, and the completion was confirmed on April 22, 2022. All 160 million shares of the placement have been successfully placed by the placement agent to no less than six placements at the placement price of HK$0.185 per placed share in accordance with the terms and conditions of the placement agreement.

The total net proceeds from the placement (after deducting fees, commissions and expenses) will be approximately HK$29.2 million and will be used in the manner disclosed in the company's announcement dated March 30, 2022.

Placed shares account for 20% of the number of shares currently issued (that is, 800 million shares as of the date of this announcement), and accounts for about 16.67% of the total number of issued shares expanded through allotment and issuance of placed shares.