The Zhitong Finance App learned that China Youzan (08083) announced that the board of directors has applied to the Stock Exchange to list Youzan Technology Co., Ltd. on the main board of the Stock Exchange by way of introduction. As of press release, China's approval rose 4.82% to HK$3.48, with a turnover of HK$21.14,800.

According to the announcement, the listing of Youzan Technology aims to unleash the growth potential of Youzan Technology Group and further develop SaaS business. Since the listing of Youzan Technology is to be carried out by way of introduction, there will be no public sale of Youzan Technology's shares in connection with the listing of Youzan Technology.

In addition, the company announced that the offeror requested the board of directors to submit proposals after the prerequisites of the plan are met or exempted. This includes allocating its shares of Youzan Technology to all Chinese Yousan shareholders. The relevant shares are to be listed on the main board of the Stock Exchange by introduction in accordance with the listing of Youzan Technology; after completing the distribution, China Youzan will be privatized and withdrawn from the listing by means of planning arrangements in accordance with section 99 of the Company Law.