LABIXIAOXIN FOOD (01262) has announced that on February 5, 2026, the company intends to acquire the entire issued share capital of Qucloud AI HK Limited from Qucloud AI. Inc. for a consideration of HK$188.48 million. The payment will be settled through the allotment and issuance of 20,834,480 consideration shares at an issue price of HK$3.98 per share, alongside the issuance of convertible bonds with a principal amount of approximately HK$106 million. The conversion price for each conversion share is set at HK$4.62.

It is reported that Linhai Qucloud is a wholly foreign-owned enterprise established in China by the target company. It is a limited liability company with no substantive business operations. Beijing Qucloud, a limited liability company established in China, is a direct wholly-owned subsidiary of Linhai Qucloud. Beijing Qucloud is primarily engaged in developing software applications using artificial intelligence (AI) models for enterprises to analyze customer behavior and enhance operational and marketing efficiency. Its clientele includes food and consumer goods producers.

Currently, the target company possesses products and services in consumer intelligence and smart marketing that are highly favored by the market. It has demonstrated the value and effectiveness of its solutions across various industries, including automotive, fast-moving consumer goods (FMCG), real estate, and education. The target company's strong technical capabilities and clear growth trajectory are significant reasons for the acquisition.

The acquisition will enable the group to enter an emerging industry, diversify its revenue streams, and create synergies with its existing business. The group is already utilizing the target company's smart marketing tools to achieve precise customer reach, significantly improving operational and marketing efficiency and brand loyalty to promote the group's products. In the long term, the acquisition is expected to help the group build its capability for precise customer interaction using AI solutions, accelerating its transformation from a traditional manufacturing enterprise into a data-driven modern consumer goods group.