Shenzhen Xunce falls most in 9 weeks on discounted share sale, bonds issue

Shenzhen Xunce Technology

03/07/2026 03:52

** Shares of Shenzhen Xunce Technology 3317.HK fall 13.9% to HK$106.6, on track for the biggest one-day pct decline since April 28
** Stock of China-based real-time data infrastructure and analytics solutions provider on track to snap three straight rising sessions 
** Shenzhen Xunce plans sale of 7.28 mln shares to third-party investors, raising HK$784 mln ($99.98 mln) to enhance full-chain AI data infrastructure and expand cross-industry commercialization, among others
** The new shares will be issued at HK$107.7 apiece, representing a 13% discount to Thursday's close of HK$123.80 per share
** Company also proposes to issue 1.36 bln yuan ($200.57 mln) worth of bonds which are convertible into 12.69 mln new shares 
** YTD, stock up 127.1%, while benchmark Hang Seng Index .HSI down 9%
     
     
     
($1 = 7.8419 Hong Kong dollars)
     
($1 = 6.7806 Chinese yuan renminbi)

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))