According to reliable sources, on June 30, the Hong Kong-listed company New Fire Technology announced a significant financing plan. The company will issue a total of 166 million new shares to 5 investors, which accounts for 22.08% of the total share capital after the company's expansion.

The subscription price per share is HKD 1.66, a discount of 29.66% compared to the closing price of HKD 2.36 on June 27. Through this issuance, New Fire Technology expects to raise a total of HKD 275.6 million.

After this financing, the company's equity structure will undergo significant changes. The major shareholder Avenir Investment's shareholding ratio will slightly increase from 29.08% to 29.84%. Notably, LINEX Holdings Ltd. will become the largest subscriber in this round, investing HKD 124 million and will hold 10% of the company's shares after the subscription.

Other investors participating in the subscription include TX Capital Holdings Ltd., Night Wood, and Rosen Holdings Ltd., which will hold 1%, 3.43%, and 0.48% of the company's shares, respectively. Among them, Night Wood is indirectly wholly owned by an executive director of New Fire Technology.

This financing not only injected a large amount of capital into New Fire Technology but also brought in several strategic investors, which is expected to bring new opportunities and resources for the company's future development. Market analysts believe that this move may enhance New Fire Technology's competitiveness in the Web3 and blockchain fields, driving further expansion of its business.

However, the issue price of the stock has a significant discount compared to the market price, which has sparked discussions among some investors regarding the company's valuation. The management of Xinhuo Technology needs to prove the value of this financing in future operations to meet market expectations.