Central China MT (09982) announced on September 23, 2026, that its indirect wholly-owned subsidiary entered into a share purchase agreement with sellers Zhongcai Herui and CBN, along with target company Lianheng Tech. Under the terms of the agreement, the buyer conditionally agreed to acquire, and the sellers conditionally agreed to dispose of, sales shares representing an aggregate 25% of the target company's issued share capital for a consideration of HK$100 million. The consideration will be settled partly in cash of HK$13.7255 million and partly through the allotment and issuance of 1.078 billion consideration shares at an issue price of HK$0.08 per share under a special mandate.
The target company operates its business through its subsidiaries. Its principal operating subsidiary is established in China and primarily engages in software and information technology services, technology promotion services, cultural and artistic activities, as well as operation and maintenance services. The target group mainly provides marketing and technical services supported by AI and big data technologies. Its core services include AI-driven customer acquisition and market promotion services, customer operation services, and the development of industry-specific AI agents. The target group is a contracted advertising agency for several mainstream internet platforms. It also holds multiple patents related to AI technology, including technologies pertaining to developing intelligent customer service chatbots and methods and systems for video generation. Furthermore, the target group possesses technical capabilities in Generative Engine Optimization (GEO). Additionally, the target group has developed software products for the real estate industry, including AI digital employee systems and intelligent customer marketing systems.
Seizing Development Opportunities from Industry Transformation and AI Applications
Agency construction primarily involves providing professional services that can be standardized and replicated. Multiple segments of the business, including investment assessment, project planning, cost control, and marketing, involve knowledge-intensive and repetitive workflows. The board believes AI technology holds considerable application potential in these areas, which could enhance business decision-making and project execution efficiency, optimize operating costs, and improve service quality and customer experience. Consequently, agency construction service providers equipped with AI application capabilities are expected to differentiate themselves in terms of response speed, cost management, and service capabilities.
Moreover, against the backdrop of ongoing adjustments in the real estate industry, the board believes integrating technological capabilities with the group's agency construction business could enrich its existing business model, explore sustainable revenue streams, and enhance its long-term development potential. Implementing the "agency construction + technology" development strategy is also expected to raise the group's profile in the capital markets, broaden its investor base, and create fresh business development opportunities for the group.
After considering the competitive landscape and the fact that AI application in the agency construction industry remains at an early development stage, the board believes that, compared with relying entirely on internal independent development, acquiring relatively mature technical capabilities and related resources through the acquisition can shorten the group's development cycle for technological and business capabilities, while facilitating the integration of AI technology with its existing agency construction operations. Based on the foregoing factors, the board considers the acquisition strategically significant, carrying economic value and potential for future business expansion.
Empowering Brand Building, Marketing, and Sales with AI to Promote Business Diversification and Long-Term Growth
Upon completion of the acquisition, the group intends to progressively apply the target group's technical capabilities in content marketing and AI-driven customer acquisition to areas such as cooperation with government and enterprise clients, investment promotion, customer development, and brand building for its agency construction business. The board believes that, as the real estate market gradually shifts from new development to operations of existing property assets, customer reach, sales conversion, and marketing efficiency are increasingly becoming key factors affecting the overall performance of property projects.
Traditional property sales models rely heavily on intermediary channels, physical sales outlets, and the experience of individual sales personnel, which may face issues such as relatively high channel costs, delayed responses to customer leads, inconsistent accuracy in matching customer needs, and difficulty quantifying marketing effectiveness. By introducing the target group's relevant technologies, the group plans to establish a digitalized marketing system covering content promotion, precision targeting, customer lead response, demand matching, and marketing performance evaluation.
Additionally, the acquisition is expected to enable the group to gradually extend its existing agency construction services from project development and construction management to marketing and sales support. Depending on the specific needs of individual projects, the group can provide clients with integrated "agency construction + marketing and sales" services, thereby further enriching its service offerings, enhancing overall service capabilities, and broadening potential revenue sources.
Driving Intelligent Transformation of Agency Construction Processes to Improve Operational Efficiency and Standardization
The group's agency construction business encompasses multiple stages including investment assessment, project planning, planning and design, tendering and procurement, construction management, marketing and sales, project delivery, and operations. These stages involve substantial data collection, analysis and evaluation, financial modeling, document preparation, and cross-departmental collaboration, some of which still rely heavily on manual processes and individual experience.
Following the completion of the acquisition, the group intends to leverage the target group's capabilities in AI applications and the engineering and deployment of industry-specific AI agents to progressively drive the digitalization and intelligent transformation of its agency construction processes. Relevant technologies can be applied across areas such as market data organization, project planning, financial modeling, and document preparation. These applications are expected to reduce repetitive work, shorten processing times, and enhance the efficiency and consistency of the group's business processes.
Furthermore, the group plans to consolidate its past experience, data, and operating standards to progressively establish a standardized, replicable, and continuously optimizable agency construction management system. Depending on the development progress of relevant systems, application effectiveness, and market demand, the group may also consider commercializing more mature systems to explore potential revenue sources beyond agency construction fees.
Starting the "Agency Construction + AI Technology" Business Model
The board believes the acquisition represents a significant step for the group in launching its "agency construction + AI technology" business model and lays a solid foundation for its potential strategic transformation. The target group's AI and technological capabilities are expected to create synergies with the group's existing agency construction business, client resources, and project management capabilities, while supporting the application of AI in business expansion, marketing management, project execution, and internal operations.
The acquisition will also enable the group to progressively accumulate relevant software, intellectual property, data assets, and industry knowledge, thereby enhancing its comprehensive service capabilities and business scalability. Moreover, the acquisition will help the group gradually extend its business model from traditional agency construction services into areas such as marketing and sales, thereby diversifying its business model and broadening potential revenue streams. The board believes the acquisition aligns with the group's overall development strategy of technological transformation and business diversification, and is expected to enhance the group's long-term competitiveness and growth potential.