VITAL INNO (06133) is planning to acquire no less than 9% equity stake in Shenzhen Kaifa Technology in Shanghai.

VITAL INNO (06133) announced that on December 27, 2024, the company entered into a non-legally binding memorandum of understanding with Huang Dingjiang (the seller) regarding the potential acquisition of certain equity interests in Shanghai Shenzhen Kaifa Technology Co., Ltd. Based on this, the company suggested acquiring no less than 9% of the total equity of the target company, while the seller proposed selling the same. It is reported that the target company's main business is providing products and services utilizing artificial intelligence technology, including hardware and software related to the daily management and operation of electronic supply networks. The target company provides services using technologies such as automatic Siasun Robot & Automation and telemetry. The target company is located in Shanghai, China. The main customers of the target company include several subsidiaries of China State Grid Corporation. Currently, the target company's customers include subsidiaries of State Grid Corporation in Shanghai, Xinjing, and other areas.