Cherish Sunshine International Limited ( (HK:1094) ) has issued an update.

Cherish Sunshine International Limited has appointed Gaoyu Securities Limited as placing agent to arrange a best-efforts placement of up to 118,502,535 new shares to at least six independent investors at HK$0.209 per share, representing about 20% of its existing share capital. The issuance will be made under its existing general mandate, subject to listing approval and conditions in the placing agreement.

If fully subscribed, the placement is expected to raise gross proceeds of approximately HK$24.8 million, with estimated net proceeds of HK$24.0 million to be deployed mainly for staff payroll, partial repayment of a PRC bank loan, professional fees and general working capital. The transaction, if completed, will moderately dilute existing shareholders but is intended to strengthen the company’s liquidity and support ongoing operational and financing obligations, with completion timing dependent on satisfaction or waiver of specified conditions.