Gelonghui, May 7, 丨 China Baoli Technology (00164.HK) announced that on May 7, 2024, the company entered into a placement agreement with the placement agent. According to this, the company conditionally agreed to place a maximum of 16,803,334 placement shares to no less than six (6) undertakers (they and their ultimate beneficial owners will be independent third parties) through the placement agent at a price of HK$1.030 per share.

The placement price of HK$1.030 per share was discounted by approximately 16.94% from the closing price of HK$1.240 per share as reported on the Stock Exchange on May 7, 2024 (the date of the placement agreement); the maximum number of shares placed was equivalent to approximately 16.67% of the company's issued share capital after the expansion of the allotted shares and the issuance of placed shares. Placed shares will be distributed and issued in accordance with a general mandate. Shareholders' approval is not required for allocating and issuing shares for sale. Assuming that the placement agent successfully places all of the placed shares, the total proceeds from the placement will be approximately HK$17 million and the net proceeds (after deducting commissions and other expenses relating to the placement) will be approximately HK$16 million.