According to Zhitong Finance App, Xinneng Low Carbon (00145) issued an announcement. At 4:00 p.m. on March 8, 2024 (that is, the final acceptance period), a total of 13 valid applications and admissions were received under the provisional quota notice, involving a total of 1.38 million shares offered, which is equivalent to about 21.78% of the total number of shares available for subscription under the share offering.

At 6:00 p.m. on March 21, 2024 (Thursday) (that is, the last placement date), a total of approximately 44.2061 million shares were successfully placed at a price of HK$0.35 per share (equivalent to the subscription price) to no less than six independent undertakers under the compensation arrangement (equivalent to about 78.22% of the total number of shares available for subscription under the share offering). As a result, there is no net income to be distributed to non-acting shareholders and excluded shareholders under the compensation arrangement. According to the above acceptance results and the results of the placement matters, the total number of shares to be allotted and issued is approximately 56.514,200 shares to be offered, which is equivalent to 100% of the total number of shares available for subscription under the offer.

Since all conditions relating to the share offering and placement as set out in the share offering regulations have been fulfilled, the share offering and placement matters became unconditional on March 31, 2024. The total amount of proceeds raised from the share offering (including compensation arrangements) is approximately HK$1.78 million, and after deducting estimated expenses related to the share offering, the estimated net proceeds from the share offering is approximately HK$17.4 million. The company plans to use the net proceeds of the share offering of approximately HK$8 million for existing and new energy saving or utilization projects, which are expected to be used before June 30, 2024; approximately HK$3 million for the resumed loan financing business, which is expected to be used by 31 May 2024; and approximately HK$6.4 million for the Group's general operating capital until September 30, 2024 Period use.