Lingyi iTech plans Hong Kong listing, acquires auto stake

Lingyi iTech (Guangdong) Company proposes to issue H shares and list them on the Main Board of The Stock Exchange of Hong Kong Limited. This move aims to advance its international strategy, expand overseas business, broaden financing channels, and enhance global visibility. The board approved this on October 28, 2025, and it is subject to shareholder and regulatory approvals.

In a related strategic initiative, the company's subsidiary, Lingyi Technology (Shenzhen) Co., Ltd., will acquire a 96.15% stake in Zhejiang Xianglong Machinery Co., Ltd. for CNY 240,384.00 million. This acquisition, aimed at deepening its presence in the automotive industry and enhancing asset quality, was approved by the board on October 28, 2025, and is subject to anti-monopoly and foreign investment reviews. The company will also continue its engagement with Rongcheng Certified Public Accountants as its external auditor for 2025.

The company also announced the achievement of unlocking conditions for its 2022 and 2024 employee stock ownership plans. The first vesting period for the 2024 plan and the third vesting period for the 2022 plan concluded on November 6, 2025, and December 8, 2025, respectively. Furthermore, the exercise price for the 2024 stock option incentive plan has been adjusted to CNY 4.42 per share following a dividend distribution.