The Zhitong Finance App learned that Youzan Technology Co., Ltd. submitted an application for listing on the main board of the Stock Exchange, and Youzan Technology spun off from China Youzan. As of press release, China Youzan (08083) rose 9.59% to HK$0.8, with a turnover of HK$64.9025 million.

According to reports, since Youzan Technology is a non-wholly owned subsidiary of China Youzan, the listing can only be implemented and completed after the plan takes effect in accordance with the proposal. Proposals include the adoption of an arrangement plan to privatize and distribute China's Youzan under section 99 of the Bermuda Companies Act. After the proposal and listing are completed, Youzan Technology's shares will be listed on the main board of the Stock Exchange, while China's Youzan shares will be withdrawn from the GEM listing.