2929 Tao Di-KY: Announcement of Board Resolution to Handle Private Placement of Securities
Tao Di-KY's board of directors has resolved to conduct a private placement of up to 4 million common shares. The funds raised will be used to expand the company's operations and establish a children's wear production base in Vietnam, aiming to enhance its competitiveness and form long-term strategic partnerships.
📋 Article Processing Timeline
- 📰 Published: May 16, 2026 at 12:57
- 🔍 Collected: May 16, 2026 at 12:57 (0 min after Published)
- 🤖 AI Analyzed: May 16, 2026 at 14:33 (1h 36m after Collected)
Announcement Date: 2026/05/16
Statement Date: 2026/05/15
Statement Time: 13:38:37
Company Code: 2929
Company Name: Tao Di-KY
Subject: Announcement of Board Resolution to Handle Private Placement of Securities
Applicable Clause: Article 11
Date of Occurrence: 2026/05/15
Explanation:
1. Date of board resolution: 2026/05/15
2. Type of privately placed securities: Common shares
3. Subscribers of privately placed securities and their relationship with the company: The company has identified the subscriber: Wang Xunfa; Relationship between the subscriber and the company: Vice Chairman of Jiangsu Caimao Industry and Trade City Co., Ltd. (a related enterprise with significant mutual influence with the company)
4. Number of privately placed shares or units: Proposed to be no more than 4,000 thousand common shares
5. Permissible private placement amount: Proposed to be no more than 4,000 thousand common shares
6. Basis and rationality of private placement price determination: The private placement price will be determined based on relevant laws and regulations, with reference to the reference price in item 11, and taking into consideration the three-year transfer restriction on privately placed securities under the Securities and Exchange Act, which is deemed reasonable.
7. Purpose of funds raised from this private placement: All funds raised will be used for the company and/or its subsidiaries to expand business operations, enter the upstream of the industry chain, and establish a children's wear production base in Vietnam.
8. Reasons for not adopting public offering: The company plans to introduce investors to enhance future competitiveness. Raising capital through a public offering of securities may not easily achieve the aforementioned objective, and privately placed securities are subject to a three-year restriction on free transfer, which can ensure a long-term cooperative relationship between the company and strategic investment partners. Therefore, it is intended to raise funds from specific individuals through private placement to improve the timeliness and flexibility of this fundraising.
9. Objections or reservations from independent directors: None
10. Actual pricing date: Subject to the authorization of the shareholders' meeting to the board of directors for full discretion.
11. Reference price: The price per common share for private placement shall not be less than 80% of the reference price. The reference price shall be determined by the higher of the following two bases:
(1) The simple arithmetic average of the closing prices of common shares on one, three, or five business days before the pricing date, after deducting ex-rights and ex-dividends for bonus shares and cash dividends, and adding back reverse ex-rights for capital reductions;
(2) The simple arithmetic average of the closing prices of common shares on the thirty business days before the pricing date, after deducting ex-rights and ex-dividends for bonus shares and cash dividends, and adding back reverse ex-rights for capital reductions.
12. Actual private placement price, conversion or subscription price: The pricing date, actual reference price and theoretical price, and actual issuance price (including conversion price of privately placed convertible bonds) are proposed to be authorized by the shareholders' meeting to the board of directors to be determined within the scope of not less than the percentage resolved by the shareholders' meeting, based on relevant laws and regulations and the above provisions, taking into account market conditions, objective conditions, and the situation of future negotiations with specific individuals.
13. Rights and obligations of these privately placed new shares: Except for the transfer restrictions stipulated in Article 43-8 of the Securities and Exchange Act, their rights and obligations are the same as those of existing common shares.
14. For those with conversion, exchange, or subscription rights, the conversion basis date: Not applicable
15. Possible dilution of equity for those with conversion, exchange, or subscription rights: Not applicable
16. Possible impact on the proportion of listed common shares if privately placed corporate bonds are delivered and all are converted or subscribed into common shares (number of listed common shares A, A/total issued common shares): Not applicable
17. For the preceding item where the estimated listed common shares are less than 60 million shares and less than 25%, please explain the measures to address low equity liquidity: Not applicable
18. Other matters to be specified:
I. This cash capital increase and private placement of common shares shall be conducted in one or more tranches (not exceeding 3 times) within one year from the date of the resolution of the shareholders' meeting. The main contents of the issuance plan, including the actual issuance price, number of shares, issuance conditions, private placement amount, capital increase base date, project items, expected progress, and expected benefits, as well as all other matters related to the issuance plan, are proposed to be authorized by the shareholders' meeting to the board of directors to adjust, determine, and handle based on market conditions. If future revisions are required due to instructions from the competent authority, or changes due to operational assessment or objective environmental needs, the board of directors is also authorized to handle them with full discretion.
II. To cooperate with this private placement of securities, it is proposed that the shareholders' meeting authorize the board of directors or its designated person to represent the company in signing and negotiating all contracts and documents related to this private placement plan, and to handle all matters required for this private placement plan on behalf of the company. Any matters not covered above are proposed to be authorized by the shareholders' meeting for the board of directors to handle with full discretion in accordance with the law.
III. The establishment of a children's wear production base mentioned in the purpose of funds refers to obtaining 40% equity in Dafafa Garment Co., Ltd. in the memorandum of cooperation.
Statement Date: 2026/05/15
Statement Time: 13:38:37
Company Code: 2929
Company Name: Tao Di-KY
Subject: Announcement of Board Resolution to Handle Private Placement of Securities
Applicable Clause: Article 11
Date of Occurrence: 2026/05/15
Explanation:
1. Date of board resolution: 2026/05/15
2. Type of privately placed securities: Common shares
3. Subscribers of privately placed securities and their relationship with the company: The company has identified the subscriber: Wang Xunfa; Relationship between the subscriber and the company: Vice Chairman of Jiangsu Caimao Industry and Trade City Co., Ltd. (a related enterprise with significant mutual influence with the company)
4. Number of privately placed shares or units: Proposed to be no more than 4,000 thousand common shares
5. Permissible private placement amount: Proposed to be no more than 4,000 thousand common shares
6. Basis and rationality of private placement price determination: The private placement price will be determined based on relevant laws and regulations, with reference to the reference price in item 11, and taking into consideration the three-year transfer restriction on privately placed securities under the Securities and Exchange Act, which is deemed reasonable.
7. Purpose of funds raised from this private placement: All funds raised will be used for the company and/or its subsidiaries to expand business operations, enter the upstream of the industry chain, and establish a children's wear production base in Vietnam.
8. Reasons for not adopting public offering: The company plans to introduce investors to enhance future competitiveness. Raising capital through a public offering of securities may not easily achieve the aforementioned objective, and privately placed securities are subject to a three-year restriction on free transfer, which can ensure a long-term cooperative relationship between the company and strategic investment partners. Therefore, it is intended to raise funds from specific individuals through private placement to improve the timeliness and flexibility of this fundraising.
9. Objections or reservations from independent directors: None
10. Actual pricing date: Subject to the authorization of the shareholders' meeting to the board of directors for full discretion.
11. Reference price: The price per common share for private placement shall not be less than 80% of the reference price. The reference price shall be determined by the higher of the following two bases:
(1) The simple arithmetic average of the closing prices of common shares on one, three, or five business days before the pricing date, after deducting ex-rights and ex-dividends for bonus shares and cash dividends, and adding back reverse ex-rights for capital reductions;
(2) The simple arithmetic average of the closing prices of common shares on the thirty business days before the pricing date, after deducting ex-rights and ex-dividends for bonus shares and cash dividends, and adding back reverse ex-rights for capital reductions.
12. Actual private placement price, conversion or subscription price: The pricing date, actual reference price and theoretical price, and actual issuance price (including conversion price of privately placed convertible bonds) are proposed to be authorized by the shareholders' meeting to the board of directors to be determined within the scope of not less than the percentage resolved by the shareholders' meeting, based on relevant laws and regulations and the above provisions, taking into account market conditions, objective conditions, and the situation of future negotiations with specific individuals.
13. Rights and obligations of these privately placed new shares: Except for the transfer restrictions stipulated in Article 43-8 of the Securities and Exchange Act, their rights and obligations are the same as those of existing common shares.
14. For those with conversion, exchange, or subscription rights, the conversion basis date: Not applicable
15. Possible dilution of equity for those with conversion, exchange, or subscription rights: Not applicable
16. Possible impact on the proportion of listed common shares if privately placed corporate bonds are delivered and all are converted or subscribed into common shares (number of listed common shares A, A/total issued common shares): Not applicable
17. For the preceding item where the estimated listed common shares are less than 60 million shares and less than 25%, please explain the measures to address low equity liquidity: Not applicable
18. Other matters to be specified:
I. This cash capital increase and private placement of common shares shall be conducted in one or more tranches (not exceeding 3 times) within one year from the date of the resolution of the shareholders' meeting. The main contents of the issuance plan, including the actual issuance price, number of shares, issuance conditions, private placement amount, capital increase base date, project items, expected progress, and expected benefits, as well as all other matters related to the issuance plan, are proposed to be authorized by the shareholders' meeting to the board of directors to adjust, determine, and handle based on market conditions. If future revisions are required due to instructions from the competent authority, or changes due to operational assessment or objective environmental needs, the board of directors is also authorized to handle them with full discretion.
II. To cooperate with this private placement of securities, it is proposed that the shareholders' meeting authorize the board of directors or its designated person to represent the company in signing and negotiating all contracts and documents related to this private placement plan, and to handle all matters required for this private placement plan on behalf of the company. Any matters not covered above are proposed to be authorized by the shareholders' meeting for the board of directors to handle with full discretion in accordance with the law.
III. The establishment of a children's wear production base mentioned in the purpose of funds refers to obtaining 40% equity in Dafafa Garment Co., Ltd. in the memorandum of cooperation.