Zhong An Intelligent Living Service Limited (2271) and Zhong An Group Limited (672) jointly announced the completion of a placing of 25.45 million new shares at HK$1.52 per share. According to the announcement, the placing raised net proceeds of HK$38.09 million after deducting related fees and expenses.

Zhong An Intelligent plans to use 25% of the proceeds to settle staff and material costs and another 25% to settle subcontracting and supplier expenses, both by the end of 2026. The remaining 50% is allocated toward office facility and software upgrades as well as the application of artificial intelligence technologies, with these projects expected to be completed by the end of 2027.

Following the completion of the placing, Zhong An Intelligent’s total number of issued shares increased from 517.41 million to 542.86 million. As a result, Zhong An Group’s shareholding in Zhong An Intelligent decreased from 71.28% to 67.94%, while Zhong An Intelligent remains a non-wholly owned subsidiary under Zhong An Group.