Zhisheng Group Holdings (08370) plans to acquire Intelligence Advantage Limited shares and sales loans for US$16.9534 million

Zhitong Finance App News, Zhisheng Group Holdings (08370) issued an announcement. On September 18, 2026 (after the trading period), the buyer (Zhisheng Group Holdings Limited, the Company) signed a sales agreement with the seller. According to this, the buyer has agreed to buy at cost and the seller has already agreed to sell (i) shares and (ii) sales loans at cost. Upon completion, the target company Intelligence Advantage Limited will become a direct non-wholly-owned subsidiary of the Company, and the target group's financial results will be incorporated into the Company's financial results.

The cost was US$16.9534 million, which is the sum of (a) the total amount of US$13.4 million paid and invested by the seller in the sale of the shares and (b) US$3.534 million in sales loans.

The target company, Intelligence Advantage Limited, is an investment holding limited company incorporated in the British Virgin Islands. The seller and Speed Ventures Limited hold approximately 51.94% and 48.06% of the shares respectively. Speed Ventures Limited is an investment holding company for a registered limited partnership fund (the fund). The general partner and shareholder of the fund is Mr. Wen Li.

The seller is Mr. Ma Minghui, an executive director and major shareholder. On the date of this announcement, Mr. Ma held 26.33 million shares through his wholly-owned company Sun Universal Limited, accounting for approximately 14.13% of the Company's current issued share capital.

The board has no intention of reducing or changing the size of its furniture business. At the same time, the Group's business strategy has been to expand its data center business in Thailand and provide data center services to Thailand's top Internet companies through multi-year contracts. The Thai data center market is an important landing point for the Group's international data center business, and it is also the core layout to meet the overseas needs of Chinese artificial intelligence customers. As disclosed in our circular dated April 30, 2025, the Thai data center market is one of the emerging markets for data center development in Southeast Asia. The market value in 2024 is US$1.56 billion and is expected to reach US$3.19 billion in 2030, with a compound annual growth rate of about 12.66%. Major government measures such as Thailand 4.0 and the Eastern Economic Corridor, as well as tax incentives and the Thailand Investment Promotion Commission's approval of a number of data center and cloud service projects, have created a favorable investment environment. The construction and management of its own multi-tenant large-scale artificial intelligence data center has also always been the Group's long-term goal.