Dongfang Electric completes HK$1.08 bn H share placement

Dongfang Electric Corporation Limited successfully completed the placing of 68,000,000 new H shares on September 24, 2025, under its general mandate. The shares were placed at HK$15.92 per placing share to at least six placees, none of whom are connected with the company or became substantial shareholders immediately after completion. This placement represents approximately 16.67% of the issued H shares and 1.97% of the enlarged total issued shares.

The gross proceeds from the placing amount to approximately HK$1,082.56 million, with net proceeds estimated at HK$1,074.84 million after deducting commissions and other related expenses. The company plans to allocate these net proceeds to general working capital, with a significant portion earmarked for key strategic areas.

Specifically, Dongfang Electric intends to dedicate approximately HK$537.42 million, representing about 50% of the net proceeds, to research and development. The remaining approximate HK$537.42 million will be used for expanding the company's sales channels, supporting its growth and market presence.