Goertek Inc. (002241.SZ) plans to spin off its subsidiary GoerTek Micro for listing on the main board of the Hong Kong Stock Exchange.

Goertek Inc. (002241.SZ) announced that it plans to spin off its subsidiary GoerTek Micro to list on the main board of the Hong Kong Stock Exchange. After the spin-off is completed, Goertek Inc.'s equity structure will not undergo significant changes, and it will retain control of GoerTek Micro. Through this spin-off, GoerTek Micro (including its subsidiary) as the only enterprise within the Goertek Inc. system engaged in the research, development, production, and sales of MEMS devices and microsystem modules, will raise international capital through the Hong Kong capital market to establish an international capital operation platform. This will help it maintain its leading position in the field of MEMS devices and microsystem modules, increase its international influence, and enhance Goertek Inc.'s overall competitiveness. The initial issuance size of GoerTek Micro in this offering will not exceed 20% of the total enlarged share capital after the issuance (before the exercise of the over-allotment option), and the global coordinator/bookrunner will be granted an over-allotment option of up to 15% of the initial H-share issuance size.