Knowledge Atlas Technology Joint Stock Company Limited signed a placing agreement on 9 July 2026 to issue up to 19.78 million new H shares at HK$1,588.00 each. China International Capital Corporation Hong Kong Securities Limited will act as sole placing agent on a best-efforts basis and will place the shares with no fewer than six independent professional or institutional investors.

The offer price represents a 12.99% discount to the 8 July 2026 closing price of HK$1,825.00 and a 6.72% discount to the five-day average of HK$1,702.40. Gross proceeds are expected to reach approximately HK$31.41 billion, with net proceeds of about HK$31.37 billion after commissions and expenses.

The proposed issuance equals 4.44% of the company’s 445.84 million issued shares and will expand the share base to 465.62 million, cutting the proportion of unlisted shares to 48.22% from 50.36% and increasing H-share free float to 51.78%.

Net proceeds are earmarked for: 1. R&D, including large-model training, computing resources and talent development. 2. Business expansion, strategic investments and M&A. 3. Working-capital replenishment and general corporate purposes. Management expects full deployment of the funds by end-2027.

The shares will be issued under the existing general mandate of up to 89.17 million shares granted on 22 June 2026; no additional shareholder approval is required. Knowledge Atlas has pledged a 60-day lock-up on additional share issuances, excluding this placement and routine share-incentive issuances.

Completion is contingent on Stock Exchange approval for listing the new shares and on customary legal documentation. Settlement is scheduled for 13 July 2026, though the placing agent retains termination rights. The company confirms post-placement public float will remain above the 10% regulatory minimum.