On December 30, Gelonghui reported that Jl Mag Rare-Earth (06680.HK) announced that the Board of Directors is pleased to declare that all conditions of the placement have been met and the placement has been completed on December 30, 2024. A total of 6,723,800 placement shares were successfully placed by the placement agent in accordance with the terms and conditions of the placement agreement, at a placement price of HK$7.82 per share (excluding any payable brokerage commissions, fees, and transaction costs) to four subscribers.