Core Viewpoint - The company Hard Egg Innovation (00400) announced a proposed spin-off and A-share listing of its subsidiary, Keton Technology, on a Chinese stock exchange, which is expected to enhance investor assessment of the remaining group's value focused on AIoT business [1] Group 1: Proposed Spin-off and Listing - Keton Technology plans to issue new shares and list on a Chinese stock exchange, leading to a reduction in the company's equity stake in Keton Technology [1] - The Hong Kong Stock Exchange confirmed on November 21, 2025, that the company can proceed with the proposed spin-off and A-share listing under Listing Rule 15 [1] Group 2: Financial Implications - The proposed spin-off and A-share listing will be treated as a sale of the company's equity stake in Keton Technology as defined under Listing Rule 14.29 [1] - The company believes that the spin-off will benefit its financial position, as Keton Technology's business scale has developed sufficiently to achieve independent listing status, while continuing to be a subsidiary [1]
硬蛋创新：分拆科通技术及建议A股上市获联交所批准