Gelonghui April 23 丨 Hengxin Technology (01085carcrashgamesunblocked.HK) announced that on April 23, 2024, the company entered into a placing agreement with the placing agent, pursuant to which the company has appointed the placing agent on a best efforts basis to facilitate a total of no less than six placees to subscribe for a total of up to a total of 77.6 million placing shares at HK$0.96 per placing share. Placing price excludes possible paymentscarcrashgamesunblockedBrokerage commissions, SFC transaction levies and Stock Exchange transaction fees.

The placing price represented a discount of approximately 17.24% to the closing price of HK$1.16 per share quoted on the Stock Exchange on the last trading day; the highest number of placing shares represented approximately 16.67% of the number of issued shares of the company as enlarged by the allotment and issue of placing shares. The company will apply to the Listing Committee for approval to list and deal in the placing shares. The placing shares will be allotted and issued in accordance with general mandate. The total proceeds and net proceeds arising from the placing are estimated to be approximately HK$74.5 million and approximately HK$72.6 million respectively.