Dongfang Electric raises HK$1.07bn through H share placing

Dongfang Electric Corporation Limited, listed on the Hong Kong Stock Exchange, will place 68,000,000 new H shares at HK$15.92 per share under a general mandate. The placing price represents a 7.98% discount to the closing price of HK$17.30 on September 17, 2025, and a 6.81% discount to the average closing price over the last five trading days.

The company expects to raise gross proceeds of approximately HK$1,082.56m and net proceeds of HK$1,074.84m. These funds will be allocated for general working capital, with approximately 50% (HK$537.42m) earmarked for research and development and the remaining 50% (HK$537.42m) for expanding the company’s sales channels.

This move follows a previous A share issuance on April 14, 2025, which raised RMB4,116.57m in net proceeds. The current H share placing aims to support the company's continuous investments in the transforming power generation equipment industry, aligning with "dual carbon" goals and robust demand for renewable energy.