MTT Group Holdings Limited (Stock Code: 02350) announced that on 5 March 2026, it entered into a non-legally binding memorandum of understanding with Tsingzhan Technology Holdings Limited (the Vendor). The Company intends to acquire a controlling stake in Tsingzhan International AI Co., Limited (the Target Company), together with its subsidiaries (the Target Group).

The Target Group is principally engaged in industrial AI and intelligent robot solutions. It has a track record in providing production line automation and quality inspection technologies focused on sectors such as automotive, equipment manufacturing, and electronics. MTT Group stated that integrating the Target Group’s capabilities could accelerate AI solution deployment in the PRC.

According to the announcement, the consideration will be settled through a combination of cash and potentially new share issuance. Under the MOU, MTT Group intends to conduct due diligence on the Target Group’s assets and financials. The involved parties aim to sign a formal sale and purchase agreement within two months from the date of the MOU, subject to an exclusivity period.

MTT Group noted the Proposed Transaction aligns with its strategy of furthering commercialisation in hyper-converged infrastructure and AI platforms. However, the announcement emphasised that the transaction may or may not proceed. Market participants are advised to exercise caution when dealing in the Company’s securities.