Core Viewpoint - Fenglong Co., Ltd. has disclosed an announcement regarding abnormal stock trading fluctuations, reiterating that UBTECH will not pursue a backdoor listing within three years [1] Group 1: Stock Performance - Fenglong Co., Ltd. has experienced a three-day consecutive limit-up, with a total increase of 33.15% prior to and following its suspension [2] Group 2: Business Operations and Future Plans - UBTECH has no clear plans to change the main business of the listed company or make significant adjustments within the next 12 months, nor does it plan to sell, merge, or collaborate on major assets or businesses [4] - After the completion of the transaction, Fenglong Co., Ltd. will continue to focus on its original business, and the fundamental situation will not undergo significant changes [4] - UBTECH aims to optimize the management and resource allocation of the listed company to enhance its operational and profitability capabilities, although there are uncertainties regarding business transformation and future collaborations [4] Group 3: Acquisition Details - On December 24, UBTECH announced plans to invest 1.665 billion yuan to acquire 9.395 million shares of Fenglong Co., Ltd., representing 43% of the total share capital, thereby gaining control [5] - Following the acquisition, the controlling shareholder of Fenglong Co., Ltd. will change from Chengfeng Investment to UBTECH, with the actual controller changing to UBTECH's founder and chairman, Zhou Jian [5] - This strategic acquisition is seen as a significant move for UBTECH to enhance its industry chain layout and strengthen its core competitiveness in the humanoid robot sector [5] Group 4: Market Context - Similar cases in the A-share market include Qiteng Robotics seeking to acquire Victory Energy and other companies pursuing similar acquisition strategies [6] - A market analyst noted that such target companies often possess "shell" attributes, characterized by moderate market capitalization, traditional main businesses, and concentrated shareholding, making control acquisition more certain [6] - Acquiring an existing listed platform is viewed as a quicker and more certain path compared to independent IPOs, providing space for future capital operations and a safety net for investment institutions [6]
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