Black Sesame Intelligence (02533.HK) plans to issue a total of 33,544,600 shares for subscription, raising a net amount of HKD 631 million.

Gelonghui, March 10 — Black Sesame Intelligence (02533.HK) announced that on March 9, 2026, the company entered into a subscription agreement with the subscriber (i.e., Infini Global Master Fund). Under this agreement, the company conditionally agreed to allot and issue a total of 33,544,600 subscription shares at HKD 18.88 per share, representing approximately 4.99% of the issued shares as of the date of this announcement.

On the same day, the company also entered into a placement agreement with the placing agents (CICC and Huatai International) regarding the subscription. According to the placement agreement, the placing agents agreed to act as the company’s agents and to use their best efforts to facilitate the subscriber’s subscription at the subscription price and assist in completing the transactions under the subscription agreement. The subscription shares will be issued and allotted under a general authority.

After the completion of the subscription, the total expected proceeds and net proceeds are approximately HKD 633.3 million and HKD 631 million, respectively. The planned use of the net proceeds from the subscription is as follows: (i) 50% for core technology R&D, including 30% for the development of next-generation high-performance chips, such as high-computing chips for autonomous driving and robotics, and edge AI chips for terminal devices; (ii) 20% for the construction of overseas R&D centers to enhance global R&D collaboration; (iii) 40% for product commercialization and market expansion, including 20% to support the certification, adaptation, and mass production of the company’s latest high-performance intelligent driving chips and platforms for key clients; 20% to expand the robotics product line and edge AI product line to accelerate product commercialization; (iv) 10% for general operational expenses.