On September 17, 2026, Marketingforce (02556) entered into a subscription agreement with subscribers, under which the company conditionally agreed to allot and issue, and the subscribers conditionally agreed to subscribe for, 9.83 million shares at a subscription price of HK$50.85 per share.
The subscription price of HK$50.85 per share represents an amount equal to the closing price of approximately HK$50.85 per share as shown on the Stock Exchange's daily quotation sheet on September 17, 2026 (the date of the subscription agreement), and reflects a discount of approximately 2.89% to the average closing price of approximately HK$52.36 per share over the five trading days immediately preceding the subscription agreement date.
The subscription shares represent approximately 3.67% of the company's issued share capital (excluding treasury shares) as of the announcement date, and approximately 3.54% of the enlarged issued share capital (excluding treasury shares) following the allotment and issuance of the subscription shares, assuming no change in the total number of issued shares from the announcement date to the completion of the subscription, other than the allotment and issuance of the subscription shares.
The gross proceeds from the subscription will amount to approximately HK$500 million, while the net proceeds—after deducting all applicable costs and expenses—will be approximately HK$499.7 million. The net price per share, after such deductions, will be approximately HK$50.82.
Where the funds will go
The group plans to allocate 100% of the net proceeds to the expansion and optimization of its full-stack Token factory, including: the construction of computing power infrastructure domestically or overseas, such as building or leasing AIDC facilities, procuring GPU servers and ancillary equipment, and networking computing clusters; the development and deployment of various AI large models and model management platforms for the group's diverse AI applications, along with related intelligent computing software; and the enhancement of inference optimization capabilities, such as inference engine iterations, operator optimization, multi-model scheduling framework upgrades, and post-training of vertical models, all aimed at reducing per-unit Token costs, improving response efficiency, and further increasing the return on investment for AI applications.
Based on its current estimates of future market conditions and business plans, the group intends to prudently utilize the net proceeds over the next 12 months, with full deployment expected by the end of September 2027. Should the net proceeds not be immediately applied to the aforementioned purposes, the group will place them in short-term interest-bearing accounts with licensed commercial banks and/or other authorized financial institutions as defined under the Securities and Futures Ordinance. The expected timeline for full utilization of the net proceeds is based on the company's current best estimates of future market conditions and business operations, and may be subject to change due to future market developments and actual business needs.