Futu news, $UBTECH ROBOTICS (09880.HK)$ In the morning session, it once dropped 15%. As of the time of writing, it has fallen by 13.58%, reporting at 78.9 Hong Kong dollars, with a transaction volume of 0.544 billion Hong Kong dollars.
Recently, UBTech announced that on December 29, 2024, the controlling shareholder Mr. Zhou Jian will enter into termination agreements with other shareholders Mr. Zhao Guoqun, Mr. Xia Yongjun, Ms. Wang Lin, Mr. Xiong Youjun, and Mr. Xia Zuoquan, respectively, to terminate the concerted action agreement, effective from December 29, 2024. The concerted action agreement between Shenzhen Asia Vets and Mr. Zhou Jian has also been terminated, effective from December 29, 2024. It is expected that the termination of these concerted action agreements will simplify the decision-making process for Board of Directors meetings and shareholder meetings.
UBTech stated that after the termination of the concerted action agreement, Mr. Zhou Jian, Mr. Zhao Guoqun, Mr. Xia Yongjun, Ms. Wang Lin, Mr. Xiong Youjun, Mr. Xia Zuoquan, and Shenzhen Asia Vets will no longer be responsible for concerted actions, including making unanimous decisions at Board of Directors meetings or unanimous voting at shareholder meetings (if applicable), nor will they be considered as having rights in each other's shareholdings according to the Securities and Futures Ordinance.
After the termination of the concerted action agreement, the concerted parties will no longer constitute a group of shareholders acting in concert with the company, and thus will not be regarded as having rights in each other's shareholdings. As a result, Mr. Zhou Jian, Mr. Zhao Guoqun, Mr. Xia Yongjun, Ms. Wang Lin, Mr. Xiong Youjun, Mr. Xia Zuoquan, and Shenzhen Asia Vets will each hold less than 30% of the company’s voting rights, and will no longer be considered as the controlling shareholders of the company.
The Board of Directors of UBTech believes that the above matters will not have any significant adverse impact on the group's operation. The company may timely issue a separate announcement to update the shareholders and potential investors on any further information regarding the above matters.
On December 29, 2024, Mr. Zhou Jian voluntarily committed to the company that within 12 months from December 29, 2024, he will not reduce his holding of 70,400,000 shares of H Shares in any manner.
It is reported that UBTECH will be listed on the Hong Kong Stock Exchange in December 2023, with a net fundraising amount of 0.931 billion HKD. After the listing, two allocations have been made, raising over 1 billion HKD.
Editor/Rocky