Drinda New Energy Raises Net 398M via Placing Patrons Acts as Placing Agent

Recently, Hainan Drinda New Energy Technology Co., Ltd. ("Drinda New Energy"; Stock Code: 2865.HK) announced a placing of new shares, with Patrons Financial Group acting as the Placing Agent. The company plans to place up to 18.682 million H shares at a price of HK$22.00 per share, representing a discount of approximately 1.08% to the closing price on January 21. The placing is expected to raise gross proceeds of approximately HK$411 million, with net proceeds of approximately HK$398 million.

According to Patrons Financial Group, Drinda New Energy intends to allocate the net proceeds primarily towards deepening its presence in frontier technology sectors: approximately 45% will be used for the R&D and production of space photovoltaic (PV) cell products; approximately 45% for equity investments and cooperation in the commercial aerospace sector; and the remaining 10% for general working capital.

Notably, has actively expanded its footprint in the commercial aerospace sector. The company recently utilized RMB 30 million of its internal resources to subscribe for approximately 16.67% equity interest in Shanghai Xingyi Xinneng Technology Co., Ltd., a company primarily engaged in commercial aerospace-related businesses. While the proceeds from this placing will not be used to fund the aforementioned subscription, the company has explicitly stated its intention to identify further suitable investment opportunities to expand its commercial aerospace portfolio.

During Drinda New Energy’s IPO, the Patrons Financial Group team served as a Joint Global Coordinator, Joint Bookrunner, and Joint Lead Manager, successfully assisting the company in listing on the HKEX and enhancing its influence in the international capital markets.

For this share placement, Patrons Financial Group has once again been appointed as the Placing Agent. Leveraging its extensive resources and professional expertise, the team continues to support Drinda New Energy’s placement needs, maintaining close communication with all parties to ensure the smooth execution of the placement plan.

If there is any inconsistency or ambiguity between these two versions, the Chinese version shall prevail.