Gronghui May 7 丨 New New Technology (09600.HK) AnnouncementmostprofitableplaytoearncryptogamesOn May 7, 2024, the company entered into a placing agreement with the placing agent, pursuant to which the company has conditionally agreed to place a maximum of 157 to not less than six placees through the placing agent on a best effort basis at a placing price of HK$0.28 per placing share.mostprofitableplaytoearncryptogames,302mostprofitableplaytoearncryptogames, 880 placing shares, provided that such placees and their beneficial owners must be independent third parties.

placing sharesmostprofitableplaytoearncryptogamesThe maximum number of 157,302,880 shares represents approximately 16.67% of the company's issued share capital as enlarged by the allotment and issue of placing shares. The placing price of HK$0.28 represents a discount of approximately 17.65% to the closing price of HK$0.34 per share of the shares quoted on the Stock Exchange on the date of the placing agreement; the total proceeds and net proceeds (after deducting placing commissions and other related expenses) are expected to be approximately HK$44.04 million and HK$43.6 million respectively, and the net price per share is expected to be approximately HK$0.277. The company intends to use the net proceeds from the placing to supplement the group's general working capital.