COOLPAD GROUP (02369) has announced its intention to conduct a placement of up to 66 million shares. This number represents approximately 19.88% of the company's existing issued share capital as of the announcement date, and about 16.59% of the enlarged issued share capital following the placement. The placement price has been set at HKD 0.53 per share, representing a discount of roughly 15.87% compared to the closing price of HKD 0.63 per share on July 17, 2026.

Assuming the full allotment of the placement shares, the gross proceeds are expected to be approximately HKD 34.98 million. The estimated net proceeds are anticipated to be around HKD 33.98 million. The company plans to allocate the entire net proceeds from this placement towards the development and expansion of its artificial intelligence infrastructure business.

Specifically, the funds are earmarked for the procurement of AI hardware and equipment. These assets will serve as core inventory for the company's solutions business, aiming to enhance its capabilities and reduce delivery times to clients within the rapidly growing AI market. The company expects to utilize these funds within the six-month period ending December 31, 2026.