MINIEYE to Acquire 50% Stake in Xi'an Tongtu Technology for 25 Million Yuan, Bolstering Smart Logistics and Autonomous Driving Initiatives

MINIEYE (02431) announced that on May 29, 2026, the company intends to acquire a 50% equity stake in Xi'an Tongtu Technology Co., Ltd. from ZTO Express for a total consideration of 25 million yuan. The payment will be structured as 5 million yuan in cash and 20 million yuan through the issuance of consideration shares, which will be allotted and issued at an issue price of HKD 9.81 per H share.

The target company is primarily engaged in the operation of intelligent unmanned vehicles, unmanned aerial vehicle services, geographic information services, and logistics technology services. This proposed acquisition is expected to facilitate a deep integration of smart logistics and autonomous driving operations, delivering significant benefits to the group.

As an operational platform for unmanned vehicle smart logistics, the target company can connect with the nationwide logistics networks, operational resources, and implementation scenarios of various logistics enterprises in the market. By leveraging the group's advanced autonomous driving technology, vehicle-side perception algorithms, and cloud-based intelligent dispatch systems, it aims to develop scenario-specific unmanned vehicle dispatch solutions. These solutions will address the operational characteristics of the logistics industry, such as high order volatility, complex routes, and stringent timeliness requirements, thereby establishing a practical foundation for the commercial application of autonomous driving technology.

The board believes that the target company, through information sharing and joint innovation, can deeply explore the commercial potential of unmanned vehicles in the smart logistics sector. This will assist the group in implementing and iterating its autonomous freight capacity model, establishing a clear and actionable commercial operational framework, and expanding into new business areas.

The proposed acquisition represents a strategic opportunity for the group to accelerate the commercialization of its L4 autonomous driving technology. It is expected to further enhance the group's market competitiveness and industry position, enabling a focused effort on the smart logistics track. This move will accelerate the development and deployment of comprehensive unmanned vehicle solutions and the layout of a freight capacity network, supporting the group's long-term and stable growth.