On December 24, 2025, UBTECH ROBOTICS CORP LTD (“UBTECH”, stock code: 9880.HK), a company listed on the Main Board of the Hong Kong Stock Exchange, and Zhejiang Fenglong Electric Co., Ltd. (“Fenglong”, stock code: 002931.SZ), an A-share listed company, jointly announced that UBTECH intends to acquire a controlling stake in Fenglong. Upon completion of the proposed acquisition, UBTECH will hold no less than 43% of Fenglong’s shares.
The onshore A-share transaction comprises two components: a share transfer by agreement and a partial tender offer. This transaction also qualifies as a major transaction for UBTECH under the Hong Kong Stock Exchange Listing Rules. Completion of the overall transaction remains subject to the satisfaction of customary conditions precedent, including obtaining regulatory approvals in both jurisdictions.
Fangda acted as UBTECH’s sole legal counsel, covering legal matters in the Chinese mainland and Hong Kong SAR, throughout this “H-share acquiring A-share” transaction. Fangda advised on all aspects of the transaction, with the team jointly led by partners MA Qiang, Leo LOU, and Arnold PANG. Leo LOU and MA Qiang took charge of the onshore A-share transaction and regulatory compliance, while Arnold PANG oversaw the legal matters related to Hong Kong SAR. Antitrust partners Michael HAN and WANG Jin, along with corporate partner Ray XU, provided critical legal support for the transaction.
This transaction follows Fangda’s role earlier in December 2025 as Hong Kong legal counsel to UBTECH in completing a new share placement, raising approximately HKD 3.1 billion. It highlights Fangda’s continued legal support of UBTECH in this landmark “H-to-A” acquisition and significant strategic expansion. Moreover, it represents another public market M&A transaction successfully completed by Fangda in 2025-2026 for a prominent Greater Bay Area enterprise.