The Zhitong Finance App learned that after the placement plan was announced, Zhuohang Holdings (01865) soared higher in early trading, with a maximum increase of 9.5%. The company plans to allocate 20% of its total share capital and raise a total of HK$87 million to repay debts and support daily business operations. The subscription price per share was HK$0.475, a premium of about 21.2% over the company's average closing price in the last 5 days. As of press release, Zhuohang Holdings rose 7.37% to HK$0.51, with a turnover of HK$22 million.

After the market on May 16, Zhuohang Holdings (01865) disclosed that the company plans to issue 138 million shares and 46 million shares to Zhongbei Capital Co., Ltd. and Shanghai Heri Investment Co., Ltd. at HK$0.475 per share (about 21.17% from the average closing price premium of the last 5 days), accounting for 20% of the company's total issued share capital, with net proceeds of 87 million yuan. The financing will be used to develop the joint venture's business, supplement general working capital and repay debts, and for appropriate investment or acquisition goals.

On April 27, Zhuohang Holdings closed the same day with a sharp drop of 90.8%, hitting a record low of HK$0.079. At the end of last month, through investigation and communication efforts, Zhuohang Holdings determined that the claims relating to the loan were purely fictitious. As a result, the company removed the risk of liquidation.