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An announcement from Beijing SinoHytec Co., Ltd. Class H ( (HK:2402) ) is now available.
Beijing SinoHytec has completed a placing of 8.88 million new H shares under its existing general mandate, with the shares placed to at least six independent investors at HK$22.68 each, representing about 3.69% of its enlarged share capital. The transaction, which closed on 23 December 2025 after the Stock Exchange granted listing approval, raised gross proceeds of roughly HK$201.4 million and net proceeds of about HK$197.72 million, none of the placees becoming substantial shareholders. SinoHytec plans to use approximately HK$177.95 million of the funds to repay bank loans and around HK$19 million for general working capital, a move that is expected to strengthen its balance sheet, reduce financing costs and provide additional liquidity to support ongoing operations in the competitive hydrogen fuel cell industry.
More about Beijing SinoHytec Co., Ltd. Class H
Beijing SinoHytec Co., Ltd. is a joint stock company incorporated in the People’s Republic of China and listed in Hong Kong under stock code 2402, with its H shares traded on the Stock Exchange of Hong Kong. The company operates in the hydrogen energy and fuel cell sector, focusing on developing and supplying hydrogen fuel cell systems and related technologies for new-energy vehicles and other clean energy applications, targeting both domestic Chinese and international markets as the hydrogen economy expands.
Average Trading Volume: 2,006,953
Technical Sentiment Signal: Hold
Current Market Cap: HK$6.9B
See more insights into 2402 stock on TipRanks’ Stock Analysis page.