On April 24, 2026, Shenzhen UBTECH Robotics Corp. Ltd. (“UBTECH”, stock code: 9880.HK), a company listed on the Main Board of the Hong Kong Stock Exchange, announced the successful completion of its partial tender offer for 13.02% of the shares of Zhejiang Fenglong Electric Co., Ltd. (“Fenglong”, stock code: 002931.SZ), an A share listed company. As of the date of the announcement, UBTECH holds a total of 93,979,906 A shares of Fenglong, representing approximately 43.01% of Fenglong’s issued share capital. With this, the share transfer registrations for UBTECH’s acquisition of controlling equity in Fenglong through both agreement transfer and partial tender offer have been fully completed.
The transaction also constitutes a major acquisition for UBTECH as a Hong Kong listed company, with the relevant resolutions having been reviewed and approved at UBTECH’s shareholders’ meeting on March 10, 2026.
The deal structure comprised both an A share equity transfer agreement and a partial tender offer, under an extremely tight timetable and involving coordinated disclosure and regulatory requirements across the Mainland China and Hong Kong capital markets. Fangda Partners acted as UBTECH’s sole legal counsel (covering both Mainland China and Hong Kong SAR legal matters), providing comprehensive support throughout the process. The team was led by partner Ma Qiang, with partner Leo Lou and Ma Qiang responsible for execution of the A share transaction, and partner Arnold Pang advising on Hong Kong legal matters. Antitrust partners Michael Han and Wang Jin, together with corporate partner Ray Xu, also provided critical legal support.
UBTECH is a global leader in humanoid and intelligent service robots, and one of the very few companies worldwide with full stack technological capabilities in humanoid robotics. This transaction marks UBTECH’s first major M&A and strategic deployment since its listing on the Hong Kong Stock Exchange in 2023. It also represents Fangda’s continued support for UBTECH following its role in December 2025 as Hong Kong legal counsel in UBTECH’s HK$3.1 billion share placement, which laid the financial foundation for this landmark “H to A” acquisition.
