New Stock News | Extreme Flying Technology has once again filed with the Hong Kong Stock Exchange, ranking second in the world agricultural Siasun Robot & Automation and agricultural unmanned aircraft industry.

According to the disclosure on March 26th by the Hong Kong Stock Exchange, Guangzhou Jifei Technology Co., Ltd. (Jifei Technology) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Huatai International as its exclusive sponsor. The company had previously submitted documents to the Hong Kong Stock Exchange on September 25th, 2025. Company Overview According to the prospectus, Jifei Technology is a global leading agricultural Siasun Robot & Automation company. In 2024, Jifei Technology ranked second in the world in terms of market share in the agricultural Siasun Robot & Automation and agricultural drones industries, with market shares of 10.7% and 17.1% respectively. By deeply integrating advanced Siasun Robot & Automation, intelligent, and new energy technologies, the company has developed a range of intelligent agricultural Siasun Robot & Automation products with high precision operational capabilities and efficiency far superior to manual labor and traditional agricultural machinery. In 2015, Jifei Technology started with the most hazardous agricultural pesticide spraying process and introduced the pioneer product, electric-driven multi-rotor autonomous agricultural drone. With a profound understanding of the diverse needs of crop management in different tasks and terrains, as well as underlying technologies in agricultural drone development, Jifei Technology further expanded its product range to include agricultural unmanned vehicles, farm machinery autopilots, and smart farm IoT products. The company also developed mobile applications that allow end-users to remotely operate agricultural Siasun Robot & Automation and monitor field conditions in real time. By building a complete product matrix and data loop for agricultural Siasun Robot & Automation, Jifei Technology provides end-users with precise, efficient, flexible, and economical unmanned agricultural solutions. Jifei Technology mainly sells products to end-users through distributors. According to Frost & Sullivan data, due to the dispersed user base, this is a common practice in the agricultural Siasun Robot & Automation industry. Leveraging Jifei Technology's international distributor network and their existing sales channels, Jifei Technology effectively expanded its overseas market, improved product penetration rates and coverage, and reached a wide and diverse customer base. Jifei Technology's direct sales customers mainly include retail customers who purchase agricultural Siasun Robot & Automation through e-commerce platforms. Financial Information Revenue In the fiscal years 2023, 2024, and 2025, the company achieved revenues of approximately RMB 614 million, RMB 1.066 billion, and RMB 1.166 billion, respectively. Annual (Loss) / Profit and Comprehensive Income Total In the fiscal years 2023, 2024, and 2025, the company's total annual (loss) / profit and comprehensive income were approximately - RMB 133 million, RMB 70.407 million, and RMB 124 million, respectively. Industry Overview Agricultural Siasun Robot & Automation has significant features of standardized and automated operations. Based on traditional mechanization, it integrates sensor technology, automatic control technology, machine vision technology, AI, and other advanced technologies, enabling agricultural Siasun Robot & Automation to work efficiently in unstructured agricultural work environments. According to Frost & Sullivan data, based on revenue, the global agricultural Siasun Robot & Automation industry grew from RMB 25 billion in 2019 to RMB 89 billion in 2024, with a compound annual growth rate of 29.3%. Among the main product types of agricultural Siasun Robot & Automation, agricultural drones are more mature commercially and have multiple application scenarios. Functions have gradually expanded from pesticide spraying to seeding, fertilizing, field patrolling, and more. Additionally, more agricultural Siasun Robot & Automation companies are developing and deploying corresponding agricultural Siasun Robot & Automation products in more agricultural sectors (such as planting and harvesting), including unmanned transplanters and harvesting Siasun Robot & Automation. It is estimated that by 2029, the global market size of the agricultural Siasun Robot & Automation industry will grow at a compound annual growth rate of 53.3% to RMB 749 billion. According to Frost & Sullivan data, based on revenue, China's agricultural Siasun Robot & Automation industry market size increased from RMB 9 billion in 2019 to RMB 34 billion in 2024, with a compound annual growth rate of 29.8%. In recent years, China has accelerated the process of agricultural mechanization, enhancing the level of modern agricultural development. It is expected that by 2029, the Chinese agricultural Siasun Robot & Automation market will grow at a rate of 42.3% to RMB 200 billion. In the future, agricultural Siasun Robot & Automation is expected to be introduced into more agricultural scenarios such as breeding, weeding, orchards, hills, and mountain operations, accelerating the rapid development of the Chinese agricultural Siasun Robot & Automation industry. In terms of the global agricultural drone market size, according to Frost & Sullivan data, based on revenue, the global agricultural drone industry increased from RMB 16 billion in 2019 to RMB 55 billion in 2024, with a compound annual growth rate of 28.8%. The rapid development of the agricultural drone industry has driven the trend of energy saving, environmental protection, and efficient development in modern agriculture. It is expected that by 2029, the global agricultural drone industry will grow at a compound annual growth rate of 35.2% to RMB 248 billion. According to Frost & Sullivan data, based on revenue, China's agricultural drone industry market size increased from RMB 8 billion in 2019 to RMB 29 billion in 2024, with a compound annual growth rate of 29.3%. With drones continuously making technological breakthroughs in areas such as energy endurance and intelligence, they can be applied in a wider range of scenarios. The maturity of manufacturing processes has also further reduced the cost of drones, promoting their widespread adoption. It is estimated that by 2029, the Chinese agricultural drone industry will grow at an annual compound growth rate of 30.0% to RMB 109 billion. Board of Directors Information After compilation, Jifei Technology's board of directors will consist of six directors, including three executive directors and three independent non-executive directors. Equity Structure As of the latest practicable date, Mr. Peng Bin has the right to exercise voting rights attached to 42.97% of the company's issued share capital, including (i) Mr. Peng directly holding 29.01% of the company's issued share capital; and (ii) Xiamen Jili (controlled by Mr. Peng through his status as a general partner) directly holding 13.95% of the company's issued share capital. Mr. Peng and Xiamen Jili will continue to be the controlling shareholders of Jifei Technology after the compilation. Ms. Quan Yefen is Mr. Peng's spouse. Therefore, under the Securities and Futures Ordinance, Mr. Peng and Ms. Quan Yefen are each deemed to have an interest in the shares held by the other. As of the latest practicable date, Mr. Peng Bin is the general partner of Xiamen Jili. As of the latest practicable date, Xiamen Jili has (i) 36.90% equity held by Mr. Peng; (ii) 24.38% equity held by Mr. Peng's spouse, Ms. Quan Yefen; (iii) 0.56% equity held by the company's executive director, Mr. Gong (as his limited partner); (iv) 2.37% equity held by the company's executive director, Ms. Tang Xiaomin (as her limited partner); and (v) 35.80% equity held by the remaining limited partners. Their respective interests in the equity held by Xiamen Jili are all below 30%. Therefore, under Part XV of the Securities and Futures Ordinance, Mr. Peng is deemed to have an interest in the shares held by Xiamen Jili. Transaction Team Exclusive Sponsor: Huatai Financial Holdings (Hong Kong) Limited Company Legal Counsel: King & Wood Mallesons; Jingtian & Gongcheng Law Firm Exclusive Sponsor Legal Counsel: Jia Yuan Law Firm; Beijing Zhonglun Law Firm Reporting Accountants and Independent Auditors: Ernst & Young Certified Public Accountants Industry Consultants: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch