Zhitong Finance App News, TV broadcast (00511) announced that on May 13, 2024, the company and Guangfa Global signed a subscription agreement to issue approximately 8.74438 million GF subscribed shares to GF Global, HK$3.36 per share, with a net raise of about HK$28.5 million, which will be used for general corporate purposes, including the working capital of a co-production drama project between the Group and its mainland Chinese streaming platform partners.

On the same day, the company signed a subscription agreement with Shaw Brothers to issue approximately 20 million Shaw Brothers subscription shares at a subscription price of HK$4 per share, often about HK$78.8 million, to be used for general corporate purposes, including working capital for co-production projects between the Group and streaming platform partners in mainland China.