Zhengli New Energy raises HK$500 million for capacity expansion and technology research and development

On October 17, Hong Kong-listed company Zhengli New Energy issued a placing announcement, announcing the issuance of 45.921 million new H shares to no fewer than six placees through an exclusive placing agent at a price of HK$10.98 per share. After deducting relevant expenses, the net proceeds amounted to approximately HK$504 million, with the actual amount raised being approximately HK$500 million. The funds raised will be invested in two core areas: capacity expansion and technological research and development, paving the way for the company to cope with the fierce competition and technological iteration in the power battery industry.