Hatcher Group Limited (Hatcher Group) announced a restructuring of its previously disclosed investment in Hong Kong Cross-Border Aviation Technology Co., Limited (Hong Kong Cross-Border) and outlined a new strategic cooperation framework aimed at developing hydrogen-powered commercial drone logistics within the Guangdong-Hong Kong-Macao Greater Bay Area.
After additional arm’s-length negotiations, Hintech Robotics Limited (Hintech Robotics) repurchased 36 percentage points of the 51 percent stake originally to be held by Hatcher Group for a token consideration of HKD 1. Consequently, Hatcher Group’s interest in Hong Kong Cross-Border has been reduced to 15 percent, while Hintech Robotics now holds 85 percent. Hintech plans to broaden its shareholder base with additional strategic and overseas investors to support regional market expansion and strengthen control of Hong Kong Cross-Border through future equity restructuring.
Hong Kong Cross-Border has signed a non-binding letter of intent with Shenzhen Pengcheng Linghang Low-Altitude Industry Co., Ltd. (Pengcheng Linghang) to advance a low-altitude, cross-border logistics project centred on hydrogen-powered commercial drones. Key terms include:
• Equity transfer: Pengcheng Linghang will transfer a 10 percent stake to Hong Kong Cross-Border in exchange for technology contributions and industrial synergies.
• Purchase commitment: Subject to airworthiness certification, Pengcheng Linghang undertakes to procure 2,000 commercial drones at market-based prices to accelerate mass production and deployment.
• Financing: Pengcheng Linghang will lead fundraising of no less than RMB 2.00 billion through staged equity rounds, bank loans, finance leases and other channels, supplemented by banking, insurance and corporate-guarantee resources.
• Operations and leasing: For eight years, Hintech Robotics will manage the leasing portfolio covering client acquisition, contracting, rent collection and asset management, while Hong Kong Cross-Border will oversee day-to-day flight operations, maintenance, insurance and airspace coordination.
The initiative aligns with China’s designation of the low-altitude economy as a strategic pillar industry and supports national carbon-neutral objectives through hydrogen-powered, zero-emission drones. Patent registrations for subsequent technologies will be filed with Hong Kong’s Intellectual Property Department under Hong Kong Cross-Border.
The parties aim to conclude a formal investment agreement within three months; however, the Board emphasises that the Letter of Intent is non-binding and may not culminate in definitive transactions. Shareholders and potential investors are advised to exercise caution when dealing in Hatcher Group’s shares.
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