October 9, CIG fell 5.14% in regular trading to 105.5 HKD, with turnover of 2.7 billion HKD.

The decline follows the company's announcement on October 8 of a discounted placement of 18.446 million new H shares at 105.16 HKD each, an 8% discount to the prior close, raising approximately 1.93 billion HKD net. Concurrently, CIG issued 3.96 billion yuan in convertible bonds with an initial conversion price of 128.82 HKD per share, a 12.7% premium, for net proceeds of about 4.606 billion HKD.

Approximately 55% of the combined proceeds will fund optical module capacity expansion, with 30% allocated for upstream strategic investments and 15% for working capital. The dual financing triggered investor concerns over near-term dilution, though the market remains attentive to the company's 800G product shipments and expected 1.6T mass production.

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