Knowledge Atlas Technology Joint Stock Company Limited announced the completion of its H-share placing on 13 July 2026. All conditions under the placing agreement were satisfied, and 19.78 million new H shares were issued at HK$1,588.00 per share to not fewer than six independent institutional investors.

The transaction expands total issued shares to 465.62 million, lifting the H-share portion of the register to 51.78% from 49.64%. The new shares represent 4.25% of the enlarged H-share base; none of the placees became a substantial shareholder.

Gross proceeds total HK$31.41 billion, with net proceeds of HK$31.37 billion after fees. The company outlined the following deployment plan, targeting full utilisation by end-2027:

• 55% (approximately HK$17.26 billion) for general-purpose AI R&D, including further development of the proprietary GLM large language models, expansion of AI safety research teams and additional computing infrastructure.

• 15% (around HK$4.71 billion) for business expansion, strategic minority investments and potential acquisitions across the AI value chain, as well as ecosystem-building initiatives with partners and developers.

• 30% (about HK$9.41 billion) to optimise capital structure, replenish working capital and cover general corporate purposes such as operating expenses, marketing, professional fees and short-term debt reduction.

The placing follows the company’s January–February 2026 global offering, which raised HK$4.90 billion. As of 30 June 2026, HK$0.31 billion of those IPO funds remained unutilised, primarily allocated to strategic investments.

Knowledge Atlas stated that any unspent proceeds from the latest placing will be held in short-term interest-bearing bank accounts until deployed in accordance with the stated allocations.