According to Zhitong Finance App, Lianyang Intelligent Holdings (01561) issued an announcement. On September 9, 2026, the company and Power Circles signed a memorandum of understanding on the Group's proposed restructuring. The proposed restructuring will include (including) share mergers, subscription matters, debt restructuring through creditor plans, changes in each trading unit, and termination of the share option plan. Subsequently, the company, Power Circles and the investor entered into a supplementary memorandum of understanding dated October 5, 2026 to amend the terms of the memorandum of understanding, including subscription shares, subscription price, investor status, and payment terms of the loan.
As of the date of this announcement, investors had no interest in any existing shares. The subscription matters include subscribing for 212 million consolidated shares at a subscription price of HK$0.37,736 per subscription share, and the company and investors must enter into a subscription agreement on December 31, 2026 or the relevant deferred date agreed by the parties. Immediately after the issuance of the subscribed shares is completed, investors and those acting in concert will have an interest in the 212 million consolidated shares, and the shareholding ratio of investors and those acting in concert in the company will increase to about 66.55% (assuming there are no other changes in the company's issued share capital). The subscription price of HK$0.37736 per subscription share was discounted by approximately 37.11% compared to the theoretical closing price of HK$0.60 per consolidated share reported on the Stock Exchange on the last trading day (adjusted for the impact of the share consolidation).
The company has applied to the Stock Exchange to resume trading of the Company's shares on the Stock Exchange starting at 9:00 a.m. on October 6, 2026.