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SHENZHEN, China - Lianhe Sowell International Group Ltd (NASDAQ:LHSW), a provider of industrial machine vision products and solutions in China, announced Friday that shareholders approved the adoption of a dual-class share structure during an Extraordinary General Meeting held Thursday. The company's stock, currently trading at $1.95, has seen a significant 14% return over the past week, though InvestingPro data shows it remains down about 54% year-to-date.
The approved changes include re-designating the company's currently issued 52 million ordinary shares into Class A ordinary shares on a one-for-one basis. The remaining authorized but unissued ordinary shares will be re-classified into 398 million Class A ordinary shares and 50 million Class B ordinary shares, with the latter carrying 100 votes per share.
Shareholders also approved the issuance of 400,000 Class B ordinary shares to Lianyue Holding Limited and 600,000 Class B ordinary shares to Patton Holding Group Limited, each at par value.
The company plans to file the new memorandum and articles of association with the Cayman Islands corporate register on Friday, with trading of the re-classified Class A ordinary shares expected to commence on Nasdaq around November 10, 2025.
Lianhe Sowell specializes in industrial vision and robotics solutions, focusing on smart transportation, industrial automation, artificial intelligence, and machine vision technologies.
The information in this article is based on a company press release statement.
In other recent news, Lianhe Sowell International Group Ltd. announced a significant development with the signing of a $105 million non-binding financing agreement. This agreement, made with European infrastructure investment fund Excellent Capital Investments, aims to establish an AI-powered robot manufacturing and R&D base in the United Arab Emirates. The total investment for this project is estimated at $132.5 million, with Lianhe Sowell contributing 20% as a cornerstone investment. Additionally, the company has entered into supply agreements valued at approximately $4.3 million with Midea Group. These agreements involve providing AI-driven 3D automatic optical inspection solutions, facilitated through Shenzhen Hechuan Intelligent Electronics Co., Ltd., which acts as Lianhe Sowell's agent. The company has already delivered $970,000 worth of equipment under this deal. These developments highlight Lianhe Sowell's ongoing efforts to expand its technological capabilities and market reach.
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