NIU Holdings Limited (Stock Code: 8619) has entered into a Sale and Purchase Agreement on 27 November 2025 to acquire 60% of the issued share capital of Smart Building Management System Limited from the vendor for a consideration of HK$7,500,000. Subject to completion and fulfillment of conditions, the acquired entity will become an indirect non-wholly owned subsidiary, and its financial results will be consolidated into NIU Holdings Limited.

The target company is primarily engaged in offering solutions for Building Management Systems, Energy Management Systems, Hotel Guest Room Management, and Home Automation. Its unaudited financial data reveal a revenue of HK$24.32 million for the financial year ended 31 March 2025 and HK$22.31 million for the six months ended 30 September 2025, with a reported unaudited net profit of HK$313,000 for the year ended 31 March 2025 and HK$994,000 for the six months ended 30 September 2025. The unaudited net asset value as of 30 September 2025 was approximately HK$7.18 million.

The consideration is based on factors such as financial performance, business prospects, and net asset value of the target, as well as the strategic benefits NIU Holdings Limited anticipates from expanding into the smart building and automation market. Since one or more percentage ratio(s) exceed(s) 5% but is/are less than 25%, the transaction is classified as a discloseable transaction under Chapter 19 of the GEM Listing Rules, subject to relevant notification and announcement requirements. Shareholders and prospective investors are advised to exercise caution regarding the completion of the acquisition, which remains contingent on the fulfillment or waiver of conditions as stipulated in the agreement.