HATCHER GROUP (08365.HK): Shareholder Buys Back 36% Stake in Target Company for HKD 1, Cutting Group's Stake to 15%; Target Signs Strategic Investment LOI for Low-Altitude Economy Project
NewTimeSpace News: On 2 September 2026, Hatcher Group Limited (stock code: 08365.HK) published a further voluntary announcement updating the progress of its investment in a new business. Under its voluntary announcement dated 4 June 2026, the company acquired a 51% equity interest in Hong Kong KuaJingTong Aviation Technology Co., Ltd. (Hong Kong KuaJingTong), with the seller, Qianyi Intelligent Technology Co., Ltd. (Qianyi Intelligent), holding the remaining 49%; following fair negotiation between the parties, Qianyi Intelligent bought back 36% of the company's interest for a consideration of HKD 1. Upon completion of the transaction, the company holds 15% of Hong Kong KuaJingTong and Qianyi Intelligent's stake increased to 85%. Qianyi Intelligent intends to introduce additional strategic partners and overseas investors, expand the market through Southeast Asian buyers and implement a capital restructuring to consolidate its controlling position in Hong Kong KuaJingTong with a more diversified capital structure.
Hong Kong KuaJingTong has signed a strategic investment letter of intent (LOI) with Shenzhen Pengcheng Linghang Low-altitude Industry Co., Ltd. (Pengcheng Linghang). The announcement noted that the low-altitude economy has been designated a national strategic pillar industry, that commercial drone logistics and freight services are predominantly electrically driven, and that the target project plans to introduce hydrogen power, which offers zero-carbon emission and environmental benefits in line with the national carbon peak and carbon neutrality goals; as a leading Hong Kong commercial drone manufacturer, Hong Kong KuaJingTong holds lawful rights to use R&D and manufacturing technologies and possesses the qualification foundation to independently implement industrial projects, with subsequent related patents to be registered with the Hong Kong Intellectual Property Department in its name as the patent owner.
The strategic cooperation framework under the LOI includes: commercial drones to be developed and manufactured by Hong Kong KuaJingTong with airworthiness certifications (including type certificate, production certificate, certificate of airworthiness for individual aircraft and design organization approval); the target project, a low-altitude economy cross-border logistics project, with Phase One covering Greater Bay Area cross-border drone logistics and freight services spanning R&D and manufacturing, cross-border logistics operations and leasing services; Pengcheng Linghang to transfer 10% of its equity to Hong Kong KuaJingTong as consideration for its technology input and industrial synergy; Pengcheng Linghang to purchase an aggregate of 2,000 drones at reasonable commercial prices to be negotiated by the parties once the drones complete finalization and are ready for commercial supply; Pengcheng Linghang to act as lead arranger introducing no less than RMB 2 billion in funding through multiple rounds of equity financing, bank loans, financial leasing, industrial funds and other channels; and Pengcheng Linghang to entrust Qianyi Intelligent with full responsibility for the commercial drone leasing business (eight-year cooperation period) and Hong Kong KuaJingTong with day-to-day flight operations of commercial drones (eight-year cooperation period).
The three parties intend to negotiate and sign a formal investment agreement within three months after the signing of the LOI. The board emphasized that the LOI is not legally binding and the transactions contemplated thereunder may not necessarily proceed, and shareholders and potential investors should exercise caution when dealing in the company's shares.
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