According to Zhitong Finance App, Zhongtian Hunan Group (02433) announced that on June 7, 2024, the company plans to place up to 96 million new shares through placement agents at the placement price of HK$0.162 per share at the placement price of HK$0.162 per share. The placement price is 16.9% off the closing price of HK$0.195 per share reported on the Stock Exchange on June 7, 2024 (the date of the placement agreement). The maximum net funding of about HK$15.2 million will be used to fund the upfront expenses of the newly awarded project. The project involves the construction of a cultural exhibition and intangible cultural heritage heritage center with a total floor area of about 70,000 square meters in Jiangxi Province, China, with a total contract amount exceeding RMB 265 million; and about 10% will be used as the company's general working capital.