Keboda shares fluctuate amidst convertible bond, acquisition plans

Keboda Technology’s shares experienced abnormal fluctuations, with the cumulative deviation from the closing price exceeding 20% over three consecutive trading days from September 15 to September 17, 2025. This triggered a disclosure requirement under Shanghai Stock Exchange rules.

The company is currently in the early stages of planning a convertible bond issuance to unspecified investors, a process subject to significant uncertainty. This issuance would require several approvals, including from the company's board of directors, shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission. The success and timing of these approvals are uncertain, and market conditions or unfavorable financing opportunities could lead to its suspension or termination.

Additionally, Keboda Technology announced on September 5, 2025, its plan to acquire 60% equity in Shanghai Keboda Smart Technology Co., Ltd. from Shanghai Kexin Investment Management Co., Ltd. for cash. This transaction, which is subject to shareholder approval, is expected to conclude by September 30, 2025, making the acquired entity a controlled subsidiary. The company also noted that its controlling shareholder, Mr. Ke Binghua, plans to reduce his holdings by up to 3,200,000 shares, representing 0.7924% of the total share capital, though this plan has not yet commenced.