• FS.com completed the acquisition of 100% of Shanghai Baud Data Communication for RMB 330 million; the target is now a wholly owned subsidiary.
• Results will be consolidated into the group’s financial statements following completion.
• Valuation implied about 0.71x FY2025 revenue of RMB 462.8 million; about 1.89x FY2025 gross profit of RMB 174.7 million.
• Target posted RMB 171.5 million revenue in the five months to May 31, 2026; consideration implied about 0.8x annualized revenue.
• Deal aimed at adding an established data-communications R&D and manufacturing platform to support broader product coverage and supply-chain resilience.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. fs.com Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260820-12292080), on August 20, 2026, and is solely responsible for the information contained therein.