CN Int Dev Corp (00264.HK) announced that it will issue up to 40 million new shares, equivalent to 8.84% of the enlarged share capital; the offering price is HKD 1.02, representing a discount of 19.05% from the previous trading day (day 4). The total fundraising amount is HKD 40.8 million, with a net amount of HKD 39.6 million, intended for purchasing production materials and paying production plant expenses; repaying outstanding accounts payable; and general working capital.

At the same time, the company has entered into a memorandum of understanding with independent third party Fang Shijun, planning to collaborate through the establishment of a joint venture to engage in research, development, production, and sales of hydrogen injection cleaning systems for automobiles' engines.