Xiangyao Announces Board Resolution for Private Placement of New Shares
Xiangyao announced a board resolution for a private placement to issue new shares. A maximum of 7 million shares will be issued to enhance working capital and improve the financial structure. The private placement price will be determined by market reference, targeting strategic investors.
📋 Article Processing Timeline
- 📰 Published: April 24, 2026 at 09:00
- 🔍 Collected: April 25, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: April 25, 2026 at 08:49 (49 min after Collected)
1. Date of board resolution: 2026/04/24
2. Type of privately placed securities: Common shares
3. Private placement targets and their relationship with the company:
(1) This offering of common shares will target individuals in compliance with Article 43-6 of the Securities and Exchange Act.
(2) Strategic investors: The company has not yet identified specific strategic investors. The primary consideration will be those who can directly or indirectly benefit the company. By introducing funds through private placement, leveraging the expertise of strategic investors will assist the company in diversifying and expanding its operations, aiming to improve the company's structure and contribute to stable growth for the purpose of sustainable operations.
4. Number of privately placed shares or units: Not exceeding 7,000,000 shares.
5. Maximum private placement amount: Not exceeding 7,000,000 shares, to be completed within one year from the date of the shareholders' meeting resolution.
6. Basis and reasonableness of private placement price determination:
(1) The price for this private placement of common shares refers to the 'Regulations Governing the Offering and Issuance of Securities by Public Companies through Private Placement'. The reference price is the higher of the simple arithmetic average of the closing prices of the company's common shares for one, three, or five business days prior to the pricing date (after deducting ex-rights/ex-dividends for bonus shares and adding back ex-rights/ex-dividends for capital reduction) and the simple arithmetic average of the closing prices for the 30 business days prior to the pricing date (after deducting ex-rights/ex-dividends for bonus shares and adding back ex-rights/ex-dividends for capital reduction).
(2) The actual issue price for this private placement will not be lower than 80% of the reference price as the basis for pricing. The actual pricing date will depend on the situation of soliciting specific parties. It is proposed to authorize the board of directors to determine the price within the range not lower than the percentage resolved by the shareholders' meeting, according to the aforementioned method.
(3) The determination of this private placement price refers to the company's operating performance, future outlook, and recent stock price. The pricing date is tentatively set as the date of the board of directors' resolution for the private placement capital increase on April 24, 2026.
(4) If, due to market factors, the private placement common shares may be lower than their par value in the future, the impact on shareholders' equity will be the accumulated loss arising from the difference between the actual private placement price and par value. The board of directors will decide whether to take measures such as capital reduction or offsetting losses with earnings or capital surplus, depending on future operating conditions.
(5) Since the Securities and Exchange Act imposes strict restrictions on the transfer timing, transfer targets, and quantity of privately placed securities, and public issuance is also not allowed within three years, considering the time risk, the determination of the above private placement price is deemed reasonable.
7. Purpose of funds from this private placement: To replenish working capital, which will help improve operational efficiency, competitiveness, and financial structure, positively benefiting shareholders' equity.
8. Reason for not adopting public offering: The company evaluated the feasibility of a public offering, the timeliness of fundraising, and issuance costs, and decided to raise funds from specific parties through private placement at an appropriate time.
9. Independent directors' dissenting or reserved opinions: None
10. Actual pricing date: 2026/04/24
11. Reference price: 22.82
12. Actual private placement price, conversion or subscription price: 18.25
13. Rights and obligations of new shares in this private placement: Not applicable
14. Record date for conversion, exchange, or subscription with conversion/exchange/subscription rights: Not applicable
15. Dilution of equity if converted, exchanged, or subscribed with conversion/exchange/subscription rights: Not applicable
16. For the preceding item, if the estimated listed common shares are less than 60 million shares and less than 25%, please explain countermeasures for low equity liquidity: Not applicable
17. Other matters that need to be specified: None
2. Type of privately placed securities: Common shares
3. Private placement targets and their relationship with the company:
(1) This offering of common shares will target individuals in compliance with Article 43-6 of the Securities and Exchange Act.
(2) Strategic investors: The company has not yet identified specific strategic investors. The primary consideration will be those who can directly or indirectly benefit the company. By introducing funds through private placement, leveraging the expertise of strategic investors will assist the company in diversifying and expanding its operations, aiming to improve the company's structure and contribute to stable growth for the purpose of sustainable operations.
4. Number of privately placed shares or units: Not exceeding 7,000,000 shares.
5. Maximum private placement amount: Not exceeding 7,000,000 shares, to be completed within one year from the date of the shareholders' meeting resolution.
6. Basis and reasonableness of private placement price determination:
(1) The price for this private placement of common shares refers to the 'Regulations Governing the Offering and Issuance of Securities by Public Companies through Private Placement'. The reference price is the higher of the simple arithmetic average of the closing prices of the company's common shares for one, three, or five business days prior to the pricing date (after deducting ex-rights/ex-dividends for bonus shares and adding back ex-rights/ex-dividends for capital reduction) and the simple arithmetic average of the closing prices for the 30 business days prior to the pricing date (after deducting ex-rights/ex-dividends for bonus shares and adding back ex-rights/ex-dividends for capital reduction).
(2) The actual issue price for this private placement will not be lower than 80% of the reference price as the basis for pricing. The actual pricing date will depend on the situation of soliciting specific parties. It is proposed to authorize the board of directors to determine the price within the range not lower than the percentage resolved by the shareholders' meeting, according to the aforementioned method.
(3) The determination of this private placement price refers to the company's operating performance, future outlook, and recent stock price. The pricing date is tentatively set as the date of the board of directors' resolution for the private placement capital increase on April 24, 2026.
(4) If, due to market factors, the private placement common shares may be lower than their par value in the future, the impact on shareholders' equity will be the accumulated loss arising from the difference between the actual private placement price and par value. The board of directors will decide whether to take measures such as capital reduction or offsetting losses with earnings or capital surplus, depending on future operating conditions.
(5) Since the Securities and Exchange Act imposes strict restrictions on the transfer timing, transfer targets, and quantity of privately placed securities, and public issuance is also not allowed within three years, considering the time risk, the determination of the above private placement price is deemed reasonable.
7. Purpose of funds from this private placement: To replenish working capital, which will help improve operational efficiency, competitiveness, and financial structure, positively benefiting shareholders' equity.
8. Reason for not adopting public offering: The company evaluated the feasibility of a public offering, the timeliness of fundraising, and issuance costs, and decided to raise funds from specific parties through private placement at an appropriate time.
9. Independent directors' dissenting or reserved opinions: None
10. Actual pricing date: 2026/04/24
11. Reference price: 22.82
12. Actual private placement price, conversion or subscription price: 18.25
13. Rights and obligations of new shares in this private placement: Not applicable
14. Record date for conversion, exchange, or subscription with conversion/exchange/subscription rights: Not applicable
15. Dilution of equity if converted, exchanged, or subscribed with conversion/exchange/subscription rights: Not applicable
16. For the preceding item, if the estimated listed common shares are less than 60 million shares and less than 25%, please explain countermeasures for low equity liquidity: Not applicable
17. Other matters that need to be specified: None