Lionhead Technology Development (600539.SH) plans to establish a subsidiary in Hong Kong.

Lionhead Technology Development (600539.SH) announced that its wholly-owned subsidiary, Hangzhou Qiqi Technology Co., Ltd. ("Hangzhou Qiqi"), plans to establish a wholly-owned subsidiary named Qiheng (Hong Kong) Limited (proposed name, subject to final approval by local authorities, hereinafter referred to as the "Hong Kong subsidiary") in Hong Kong. The investment amount will not exceed 30 million yuan or its equivalent in foreign currency, with a registered capital of 5 million yuan. The remaining funds will be used for the daily operations of the Hong Kong subsidiary.