MAAS · Maase Inc.

Maase Inc. has successfully completed a transformative acquisition of Times Good Limited, the controlling entity of Huazhi Group, marking a strategic pivot from a 'Scenario Operator' to an 'AI Industry Player.' The transaction, initially disclosed on January 23, 2026, was consummated on March 30, 2026. The consideration involved the issuance of 87,400,144 Class A ordinary shares to the sellers, resulting in the sellers holding approximately 19.77% of the total issued share capital and 7.93% of the total voting power. This significant equity issuance reflects the material nature of the transaction and aligns seller interests with Company performance. Huazhi Group specializes in high-performance computing and AI algorithm R&D, with domain expertise in smart governance and enterprise digital transformation. CEO Min Zhou highlighted the strategic synergy, noting that Huazhi’s technology stack complements MAAS’s existing landscape. The acquisition enables vertical integration of computing infrastructure, proprietary algorithms, and intelligent hardware, creating a closed-loop AI ecosystem. Post-acquisition, MAAS plans to focus on mission-critical scenarios such as energy dispatch optimization and urban governance. As of March 30, 2026, the Company has 442,175,578 ordinary shares outstanding.