Chongqing Qianli Technology plans H-share listing in Hong Kong

Chongqing Qianli Technology Co., Ltd. (SSE:601777), on September 12, 2025, announced its board's approval to initiate an H-share issuance and listing on the Main Board of the Hong Kong Stock Exchange. This strategic move aims to deepen its global presence and enhance its international brand image. The company plans to decide on the appropriate timing for the listing within the resolution's validity period, taking into account shareholder interests and market conditions.

In preparation for the H-share listing, the board approved the appointment of Ernst & Young Hong Kong as the auditor. The company's English name will also be changed from "Chongqing Qianli Technology Co., Ltd." to "Chongqing Afari Technology Co., Ltd.," which necessitates revisions to the company's articles of association. These resolutions and the proposed Articles of Association (Draft) for H-share listing will be submitted for shareholder approval at the Fifth Extraordinary General Meeting in 2025.

The board also approved a plan for the pre-listing retained earnings or undistributed losses, which will be jointly shared or borne by existing and new shareholders in proportion to their shareholdings. Proceeds from the H-share issuance are intended for AI strategy implementation, R&D enhancement, supply chain integration, sales network expansion, and general working capital.