UbiTech Does Not Plan Merger with Fenglong Within Next 3 Years

Fenglong, a publicly listed company, has officially stated that it has no plans for restructuring or merger with Shenzhen UbiTech Science and Technology Co., Ltd. over the next three years.

This statement was made in response to investor questions on an interactive investment platform. UbiTech is a well-known Chinese robotics manufacturer specializing in the development and manufacturing of humanoid robots, educational robots, and industrial robots. The company has attracted significant attention as a potential candidate for a backdoor listing through the acquisition of a public company, which would have allowed it to avoid the complex IPO procedure.

A backdoor listing is a way for a private company to become public by acquiring a controlling stake in an already existing public company. In this case, assumptions about the possibility of UbiTech merging with Fenglong were based on previous market rumors and activity surrounding Fenglong's shares. Fenglong's statement dispels these rumors and brings clarity to the situation.

The company emphasized that no plans for asset restructuring by UbiTech are planned for the next 12 months either. Moreover, there are currently no plans for injecting UbiTech assets into Fenglong. This statement may impact the market value of Fenglong's shares, since speculation about a possible merger had supported the stock price.

Investors interested in UbiTech will have to look for other investment opportunities in this company, for example, by waiting for a traditional IPO. For UbiTech, this means continuing independent development and possibly preparing for an initial public offering in the future. In conclusion, Fenglong's statement confirms the absence of restructuring plans with UbiTech in the near future, which brings certainty to the market and redirects investor attention to other potential opportunities in the field of robotics and artificial intelligence in China.