Yeebo (HKG:0259) shareholders will gather in Hong Kong on May 12 to vote on subsidiary Suanova Technology's purchase of the entire stake in Suanova Smartmodel from Global Vast for HK$1, according to a Wednesday filing with the Hong Kong bourse.

Global Vast is owned by Dogulas Fang Yan Tak, the chairman of Yeebo, the filing said.

The stake consists of 10,000 shares in the investment holding company, which owns Shanghai Yunsuan Hefeng Information, a wholly-owned foreign company, the filing said.

Shanghai Yunsuan Hefeng Information committed to purchasing a 3.34% stake, or 100 million yuan, in Yunhe Zhiwang (Shanghai) Technology, which is engaged in the design, development and sale of intelligent network chips, the filing said.

The purchase will help Yeebo expand into artificial intelligence computing and related businesses, the filing said.