Q Technology (Group) Company Limited (SEHK:1478) announced the spin-off of Kunshan Q Technology Limited on December 15, 2020. On December 15, 2020, Q Technology (Group) Company Limited submitted an application in relation to the proposed spinoff to the Stock Exchange of Hong Kong Limited (the “Stock Exchange”) for approval pursuant to Practice Note 15 of the Listing Rules. The proposed spinoff is subject to, inter alia, the prevailing market conditions and approvals from relevant authorities, including the Stock Exchange, China Securities Regulatory Commission, the Shenzhen Stock Exchange or Shanghai Stock Exchange (as the case may be).

As of April 23, 2021, Stock Exchange approved for listing of shares. On June 23, 2021, Kunshan QT China submitted an application to the ChiNext of Shenzhen Stock Exchange for the proposed listing. Kunshan QT China is an indirect wholly owned subsidiary of the Q Technology.

Upon completion of the Proposed Listing, it is expected that Kunshan QT China will remain as a subsidiary of Q Technology. The Proposed Listing is conditional upon, among other things, the approval of the CSRC and the Shenzhen Stock Exchange.