Chongqing Qianli plans Hong Kong H-share listing for growth

Chongqing Qianli Technology Co., Ltd. announced its intention to apply for a primary listing of H-shares on the Main Board of the Hong Kong Stock Exchange, as part of its strategy to meet operational funding requirements and enhance sustainable development. The proposed listing will involve the public offering and international placement of H-shares. The total number of H-shares to be issued will not exceed 15% of the company's total share capital after the offering, with an option for an additional 15% through an over-allotment option.

The company aims to use the raised capital for several key initiatives, including advancing its AI strategy, enhancing R&D capabilities, integrating upstream and downstream supply chain resources, expanding its sales and service network, and supplementing working capital. The proposal also includes a change in the company's English name to "Chongqing Afari Technology Co., Ltd." and amendments to its Articles of Association to align with H-share listing requirements.

Shareholders will vote on these proposals at the Fifth Extraordinary General Meeting on September 29, 2025. The company also announced the appointment of Ms. Huang Qun as an independent director and determined the composition of its board of directors post-listing. The resolutions related to the H-share listing will be valid for 24 months from the date of shareholder approval.