Summary by Futu AI
QINGDAO INNOVATION QICHI TECHNOLOGY GROUP CO., LTD. (STARTUP QICHI) COMPLETED A NEW H SHARE DISTRIBUTION ON JUNE 14, 2023, TOTALING 19,900,000 SHARES AT A PRICE OF HK$19.70 PER SHARE. The divestiture is aimed at at least six independent partners and ensures that they and their ultimate beneficial owners are non-corporate affiliates. Following this distribution, the Company's issued share capital increased from the original 545,150,738 shares to 565,050,738 shares representing approximately 3.52% of the enlarged share capital. Upon completion of the distribution, the registered capital of the company increased from RMB 545,150,738 to $565,050,738. In response to changes in the share capital, the Company intends to amend the Articles of Association and will submit a special resolution at the Annual General Meeting for shareholder approval. Relevant circulars and notices will be published on the HKEx and the Company's website at the appropriate time.