On September 29, ZHIDA TECH fell 9.6% in regular trading, trading at HK$8.00/share, with turnover of HK$22.61 million. The stock had briefly opened higher on news of becoming an exclusive supplier for Saudi Arabia's first domestic auto brand CEER, but quickly reversed as ongoing placement dilution pressure overwhelmed positive sentiment.

On September 25, the company completed the placement of approximately 23.67 million new H shares at HK$8.77 each, representing a 17.11% discount to the pre-deal closing price. The placement expanded total issued shares from 318 million to 342 million, diluting public shareholders' stake from 32.90% to 30.62%. Net proceeds of approximately HK$203 million are earmarked for public charging acquisitions, robotics investments, and new energy-management facilities. Notably, the current share price has now fallen below the HK$8.77 placement price, likely triggering additional selling pressure from both existing holders and new placees facing immediate losses.

The stock had already declined 8.01% on September 28 as the dilution impact first materialized, with major shareholders including Liu Jing seeing their stakes passively reduced from 40.35% to 37.56%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)