LABIXIAOXIN (01262) plans to acquire Hong Kong Quyun Wanni Information Technology Co., Ltd for approximately HK$188.5 million.

LABIXIAOXIN (01262) announced that on February 5, 2026, the company intends to acquire Qucloud AI HK Limited (Hong Kong Quyunan Intelligent Information Technology Co., Ltd.) from Qucloud AI. Inc. for a total consideration of HK$1.8848 billion. The acquisition will involve issuing and distributing 20,834,480 shares at a price of HK$3.98 per share, as well as issuing convertible bonds with a total amount of approximately HK$106 million, with a conversion price of HK$4.62 per share. It is reported that Quyunan in Linhai is a wholly foreign-owned enterprise established by the target company in China and is a limited company with no substantial business operations. Quyunan in Beijing is a limited company established in China and is a direct wholly-owned subsidiary of Quyunan in Linhai. Quyunan in Beijing is mainly engaged in developing software applications for enterprises using artificial intelligence (AI) models to analyze customer behavior and improve operational and marketing efficiency. Its clients include food and consumer goods manufacturers. Currently, the target company has highly regarded products and services in the consumer and smart marketing sectors, and has proven the value and effectiveness of its solutions in multiple industries such as automotive, FMCG, real estate, and education. It has strong technical capabilities and a clear growth path, which are important reasons for the acquisition. The acquisition will enable the group to enter a new emerging industry, expand its sources of revenue, and generate synergies with its existing businesses. The group is using the target company's smart marketing tools to achieve precise customer outreach, significantly improving operational and marketing efficiency and brand loyalty to promote the group's products. In the long term, the acquisition is expected to help the group establish its ability to interact accurately with customers through AI solutions and accelerate its transformation from a traditional manufacturing enterprise to a data-driven modern consumer goods group.