RUIHE DATA (03680.HK): Subsidiary Submits Subscription Application for Up to HKD 60,000,000 of Ligent Technologies International Offering Shares, Extending into Upstream AI Computing Optical Interconnect

NewTimeSpace News: On 14 September 2026, Ruihe Data Technology Holdings Limited (stock code: 03680) announced that Ruihe Data Technology (Hong Kong) Limited, its wholly-owned subsidiary acting as the subscriber, submitted a subscription application on that date for the shares allocated to it under the international offering of Ligent Technologies, Inc. (stock code: 09856), with the aggregate subscription amount payable corresponding to the total offer price of all allocated shares not exceeding HKD 60,000,000.

The announcement disclosed an offer price of HKD 32.96 per share, with Citigroup Global Markets Asia Limited, CLSA Limited, GF Securities (Hong Kong) Limited and Futu Securities International (Hong Kong) Limited acting as underwriters. The total offer price payable by the subscriber will be determined by multiplying the number of allocated shares by the final offer price, plus an SFC transaction levy of 0.0027%, an AFRC transaction levy of 0.00015%, a Stock Exchange trading fee of 0.005% and a brokerage commission of 1%. As one or more of the applicable percentage ratios for the subscription is more than 5% but less than 25%, the subscription constitutes a discloseable transaction for the Company and is subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.

Completion of the subscription is subject to the successful listing of Ligent Technologies' international offering shares on the Stock Exchange, the determination of the offer price and the results of the allocation under its international offering. According to the expected timetable for the initial public offering set out in Ligent Technologies' prospectus, the offer price was determined on 14 September 2026 and the offer shares are expected to be listed on 22 September 2026. Completion of the subscription and payment of the subscription monies must take place on or before the first day on which the offer shares commence listing and trading on the Stock Exchange, and there is no restriction on the subsequent sale of the subscribed offer shares.

Ligent Technologies is a limited liability company incorporated in the Cayman Islands that principally engages in the research and development, manufacturing and sale of optical transceivers, optical network terminals and optical chips. Under the prospectus, Ligent Technologies recorded profit before taxation of RMB 242,499 thousand, RMB 98,399 thousand and RMB 921,584 thousand for the years ended 31 December 2023, 2024 and 2025 respectively, and RMB 793,932 thousand for the six months ended 30 June 2026; net profit for the same periods was RMB 215,521 thousand, RMB 89,490 thousand, RMB 872,640 thousand and RMB 660,991 thousand respectively. As at 30 June 2026, its total assets were approximately RMB 11,009.1 million. Each of Ligent Technologies and its ultimate beneficial owners is an independent third party.

The Board considers that Ligent Technologies and the Group have strategic synergies, as the two parties are complementary participants in the upstream and downstream of the industry chain under a "software plus hardware" model. Ligent Technologies provides underlying hardware for artificial intelligence computing, including optical modules and optical chips, while the Group focuses on upper-layer software services such as big data scheduling and AI algorithms. The Group intends to fund the subscription consideration from the unused balance of the proceeds reserved for strategic investments related to its core business from the new share placements completed under general mandates on 6 February 2026 and 24 August 2026, together with the Group's internal resources. If the subscription is implemented and completed, the Company will publish a further announcement on the final number of shares allocated to the subscriber and the final aggregate subscription amount payable.

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