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CHENGDU, China - Maase Inc. (NASDAQ:MAAS), whose stock has surged over 30% in the past week despite a challenging six-month period, announced Friday it has signed a non-binding framework agreement to acquire 100% equity of Qingdao Youdian New Energy Technology Co., Ltd. and 49% equity of Qingdao Huijulaixi Intelligent Technology Co., Ltd. According to InvestingPro data, the company maintains a healthy liquidity position with a current ratio of 2.69.
The transaction is expected to close in the third quarter of 2025, according to a company press release.
Youdian specializes in electric vehicle services and residential energy solutions. The company’s product line includes mobile charging robots branded as "Xiaoli Charging" with capacities ranging from 20kWh to 150kWh, as well as residential energy products such as outdoor mobile energy storage units and portable charging devices.
LaiXi, established in 2021, develops intelligent unmanned systems and operates an automated manufacturing facility with an annual production capacity of 1,200 car washing machines. The company has developed patented low-temperature car wash technology that operates at temperatures as low as -13°C without freezing.
"This acquisition represents a key milestone in the strategic upgrade of MAAS," said Min Zhou, CEO of Maase Inc., in the statement.
The framework agreement does not contain all matters necessary to complete the proposed acquisition and does not create binding rights or obligations. The parties will only be bound upon execution of definitive documentation, and there is no guarantee the transaction will be completed.
Maase Inc., founded in 2010 and formerly known as Highest Performances Holdings Inc., currently holds controlling interests in two financial service providers in China: AIFU Inc. and Puyi Fund Distribution Co., Ltd. Trading at just 0.34 times book value, InvestingPro analysis suggests the stock is currently undervalued, with 11 additional key insights available to subscribers.
In other recent news, Maase Inc. announced a private placement agreement to raise approximately $21 million through the issuance of 10 million Class A ordinary shares at $2.08 per share. The transaction includes warrants for purchasing up to 20 million additional shares, structured in two tranches with exercise prices set at 200% and 250% of the purchase price. Following the transaction, Maase will have around 25.9 million ordinary shares outstanding, with the largest investor holding about 19.29% of these shares. The company plans to use the proceeds to support business plans and general corporate purposes, with the transaction expected to close by the end of July 2025. In a separate development, Maase will cease listing its American Depositary Shares (ADSs) on Nasdaq, replacing them with Class A ordinary shares. This change includes a 1-for-90 reverse stock split, consolidating existing shares into one new share, with trading expected to begin on June 23, 2025, under the symbol "MAAS." Additionally, Maase plans to increase its authorized share capital to $450 million, divided into 5 billion shares, and has adopted a new Chinese name for business identification. These moves reflect Maase’s strategy to optimize its capital structure and strengthen its market position.
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