Beijing Xunzhong Raises HK$315.56M in New H Share Placing

Beijing Xunzhong Communication Technology placed 11.19M new H shares at HK$28.20 each, raising about HK$315.56M gross and HK$313.64M net. Roughly 38% of net proceeds will fund computing-power infrastructure and R&D, and 22% platform and product R&D.