CHERISH SUN (01094) has announced the completion of its share placement on August 18, 2026. A total of 119 million placement shares were successfully allotted to seven placees at a price of HK$0.209 per share, following the Listing Committee's approval for the listing and trading of these shares.

The net proceeds from the placement, after deducting placement commissions, professional fees, and all related expenses, amount to approximately HK$24 million. The company has outlined a detailed allocation plan for these funds to support its operational and financial needs.

Specifically, HK$10 million will be directed toward covering the group's employee salaries, including wages, statutory retirement fund contributions, and compensation. An additional HK$5 million is earmarked for partial repayment of a bank loan in China, which carries an interest rate of 4.5% and is due within six months. Furthermore, HK$5 million will be allocated to professional expenses, encompassing upcoming audit fees, legal counsel charges, financial advisory services, and standard listing maintenance costs. The remaining HK$4 million will serve as general working capital for the group, covering utility expenses, insurance, and other administrative outlays.