BLACK SESAME (02533) announced that it has entered into a subscription agreement with Infini Capital. Under the agreement, the company will allot and issue a total of approximately 33,544,600 subscription shares at a price of HK$18.88 per share. This represents a discount of 2.13% compared to the closing price of HK$19.29 on March 9. The total proceeds from the strategic placement amount to approximately HK$631 million.

The funds raised are intended to be used primarily for the research and development of a new generation of high-performance chips. This includes high-computing-power chips for autonomous driving and robotics applications, as well as edge AI chips for end-user devices. A portion of the capital will also be allocated to the establishment of overseas R&D centers to enhance global research collaboration. Additionally, the proceeds will support the certification, adaptation, and mass-production resource allocation for the company's latest high-performance intelligent driving chips and platforms with key clients. The funding will further aid in expanding the robotics and edge AI product lines to accelerate the commercialization of these products.

This strategic partnership is expected to generate long-term synergies in capital, business, and other resources, particularly in areas such as AI, robotics, and autonomous driving. It is also anticipated to accelerate the company's engagement with international capital and business opportunities, thereby supporting its sustained development and business growth.