HUANXI MEDIA revises the placement and warrants issuance limit, reopening with a 22% high before falling back by 5%

HUANXI MEDIA (01003.HK) announced a revised agreement for the share subscription agreement with C River Co, held by Chen Rong. Both parties agreed to increase the number of shares from the original 548 million shares to 728 million shares, equivalent to approximately 16.6% of the company's expanded share capital. At the same time, the originally planned issuance of 1.889 billion warrants has been reduced to 731 million warrants, equivalent to approximately 16.67% of the expanded share capital.

The net proceeds from the subscription and the warrants subscription will amount to approximately HKD 225 million, of which about HKD 100 million is intended to be invested in enhancing the company's capabilities in utilizing advanced technologies (including but not limited to artificial intelligence in the film and television production field). This move will further improve the company's production quality and efficiency, as well as explore new business opportunities in interactive entertainment, game development, and intellectual property-related derivative products; approximately HKD 50 million will be invested in film and television copyright business; and approximately HKD 75.1 million will be used for general working capital.

The company's shares resumed trading today (13th), opening up 22.08% at HKD 0.47, reaching an intraday high, but then reversed and is currently reported at HKD 0.365, down 5.19%, with a trading volume of 17.96 million shares, involving HKD 7.3768 million