On July 9, Biren Technology rose 3.21% in regular trading, trading at HK$47.86 per share, with turnover of HK$663 million. The stock continued its recovery from the placement-driven selloff, finding consistent support near the HK$46.2 placement price.

On the news front, the company announced on July 8 the completion of delivery for the placement of 153 million new H shares at HK$46.2 per share, raising net proceeds of approximately HK$7.038 billion. Approximately 60% of the funds will be used to accelerate commercialization and production of its next-generation GPGPU products, while about 20% is earmarked for cutting-edge technology R&D. Post-placement, total shares in issue increased to approximately 2.59 billion.

The placement price represented a discount of roughly 9.94% to the July 3 closing price of HK$51.3, which initially triggered a 9.36% drop on July 6. However, the stock has since rebounded for three consecutive sessions as the placement price provided a technical floor, suggesting the market is gradually digesting the dilution impact while recognizing the strategic value of the capital raise for scaling AI chip production.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)