Lens Technology announced that on October 16, 2026, the company (as buyer) entered into a share purchase agreement with Mr. Lu Songshou (as seller), PMG International, Yuanshi Technology, and Lu Shaohua regarding a 59.7805% equity stake in PMG International Co., Ltd.
The company has conditionally agreed to purchase approximately 2.989 million common shares of PMG International held by Mr. Lu Songshou, representing 59.7805% of PMG International's total issued share capital, for a consideration of USD 25 million.
Upon completion of the acquisition, PMG International will become a controlled subsidiary of the company. Accordingly, the financial results of the target group will be consolidated into the company's financial statements.
Currently, the target group has completed the expansion of production capacity for AI server structural components and high-efficiency liquid cooling systems at the Songshan Lake park. It has passed factory inspections by leading domestic and international customers and obtained formal orders, and is now in the ramp-up phase of mass production.
The acquisition of the remaining 40.2195% equity interest in PMG International, including the transaction amount and transaction structure, will be subject to further negotiation among the relevant parties based on PMG International's actual operating conditions, audit and valuation results, and will be determined by both parties in a subsequent acquisition agreement. There is a certain degree of uncertainty, and the company will continue to disclose subsequent progress in accordance with regulations.
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