Beijing Saimo Brings in Strategic Investors Through Capital Increase at Key Subsidiary

Beijing Saimo Technology Co. Ltd. Class H ( (HK:2571) ) has issued an announcement.

Beijing Saimo Technology Co., Ltd. has entered into an Investment Agreement and a Shareholders Agreement with three investors—Shuxin Juhui Consulting Enterprise, Xinjuhui Technology Enterprise and Jing Wei—under which the investors will inject a combined RMB9.61 million in cash and intellectual property into a subsidiary (the Target Company). This capital increase will raise the Target Company’s registered capital from RMB10 million to about RMB19.61 million, with Beijing Saimo retaining a 51% stake and the new investors collectively holding 49%, allowing the unit to remain a consolidated subsidiary. The transaction, which reduces Beijing Saimo’s percentage shareholding and therefore constitutes a deemed disposal under Hong Kong Listing Rules, qualifies as a discloseable transaction, triggering reporting and announcement requirements but not altering the company’s overall control of the subsidiary.

The most recent analyst rating on (HK:2571) stock is a Buy with a HK$14.50 price target. To see the full list of analyst forecasts on Beijing Saimo Technology Co. Ltd. Class H stock, see the HK:2571 Stock Forecast page.

More about Beijing Saimo Technology Co. Ltd. Class H

Beijing Saimo Technology Co., Ltd. is a PRC-incorporated joint stock company listed in Hong Kong that operates through subsidiaries, including the Target Company in which it holds a controlling equity interest. The group focuses on technology-driven businesses and maintains operational control of key subsidiaries to consolidate their financial results into the group’s accounts.

Average Trading Volume: 232,705

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$1.68B

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