According to online reports, Hong Kong-listed company Xinhuo Technology announced that it will issue a total of 166 million subscription shares to five subscribers, equivalent to 22.08% of the company's enlarged share capital, and a subscription price per share of 1.66 Hong Kong dollars, a discount of 29.66% to the closing price of 2.36 Hong Kong dollars on June 27. The total proceeds were 275.6 million Hong Kong dollars. Major shareholder Avenir Investment (Subscriber I)'s shareholding in the company increased from 29.08% to 29.84%;LINEX Holdings Ltd. (Subscriber II) will subscribe for HK$124 million, becoming the largest subscriber in this round, with a shareholding ratio of 10%. TX Capital Holdings Ltd. (Subscriber III) will hold a 1% stake; NightWood (Subscriber IV), indirectly wholly owned by Executive Director Zhang, will hold a 3.43% stake;Rosen Holdings Ltd. (Subscriber V) will hold 0.48%.