GOFINTECH QUANT (00290) intends to acquire Luffa AI Limited for a total of $19.8 million, consisting of 11.89 million shares and $20 million for a subscription of a total of 10 million shares.

GOFINTECH QUANT (00290) announced that on May 25, 2026, the company (as an investor), the target company Luffa AI Limited, and three shareholders of the target company (Seller A, Seller B, and Seller C, collectively referred to as Sellers), along with the sole shareholder of Seller A, entered into an investment agreement. According to the terms of the investment agreement: (i) The company conditionally agreed to purchase and the Sellers conditionally agreed to sell a total of 11.89 million issued shares of the target company (equivalent to approximately 10.8% of the target company's enlarged issued share capital, assuming completion of the subscription as described in paragraph (ii) below), for a total consideration of USD 19.8 million (approximately HKD 154 million); and (ii) The company conditionally agreed to subscribe for and the target company conditionally agreed to allot and issue a total of 10 million new shares of the target company (subscription shares, equivalent to approximately 9.1% of the target company's enlarged issued share capital), for a total consideration of USD 20 million (approximately HKD 156 million). As of the date of this announcement, Seller A, Seller B, and Seller C each hold direct stakes in the target company's issued share capital of 45.0%, 35.0%, and 20.0% respectively. After the completion of the transaction, the target company will be owned by Seller A, Seller B, Seller C, and the company with equity interests of 36.1%, 28.0%, 16.0%, and 19.9% respectively. The company's investment in the target company will be recognized in the company's consolidated financial statements as financial assets at fair value through profit or loss. As a diversified financial services platform, the group has been actively exploring various collaborations in the fields of quantum technology and artificial intelligence. The signing of the investment agreement provides a unique opportunity for the group to leverage its research and development achievements in quantum encryption algorithms and blockchain technology. This move is expected to enhance the group's competitive advantage and technological competitiveness in financial technology services.