Recent Updates — MAAS
The board of directors approved the appointment of Mr. Baoxue Xu as Co-Chief Technology Officer, effective October 13, 2026. He will oversee research, engineering, and commercialization for the energy solutions division, including battery storage and autonomous charging robotics. Mr. Xu receives no cash salary but was granted 12,500 restricted share units subject to a five-year vesting schedule. This role complements the existing Chief Technology Officer responsible for AI strategy, establishing a dual-engine technology leadership structure. Maase Inc. is an artificial intelligence-centric full-scene digital systems provider and operator.
Maase Inc. has terminated negotiations regarding its proposed acquisition of Shandong Sandi Water Purification Technology Co., Ltd. and its subsidiaries. The company ceased discussions following further evaluation and determined not to proceed with the transaction. No definitive or binding agreements were entered into for this potential deal. Maase Inc. operates in the manufacturing sector, specifically within industrial parks.
Maase Inc. entered into a Securities Purchase Agreement on September 23, 2026, for a private placement of 3,878,856 Class A ordinary shares at $12.89 per share, generating approximately $50 million in gross proceeds. The transaction is expected to close in October 2026, subject to customary conditions, with the issued shares subject to a 36-month lock-up period. Proceeds will fund the expansion of Star Distributed Intelligent Computing Centers and the research, development, and commercialization of its Lingyanmiaoyu large language models. Maase Inc. operates in the artificial intelligence sector as an integrated provider and operator of AI-centric full-scene digital systems.
Maase Inc. filed unaudited pro forma condensed combined financial statements reflecting a series of strategic transactions completed between July 2025 and March 2026. The company acquired Real Prospect Limited (98,002,174 shares), Carve Group Ltd (195,894,609 shares), and Times Good Limited (approx. RMB 1.1 billion consideration including 87,400,144 shares and US$26 million cash). Concurrently, Maase disposed of Puyi Group Limited for RMB 70 million and deconsolidated AIFU Inc. following dilution to a 7.85% ownership stake. These transactions restructured the company's operations by exiting wealth management and insurance agency segments while expanding into manufacturing and other sectors.
Maase Inc. appointed Dr. Zhifeng Li as Chief Technology Officer, effective August 4, 2026. Dr. Li brings expertise in artificial intelligence and industrial technology applications, previously serving as chairman of the board for subsidiary Huazhi Future (Chongqing) Technology Co., Ltd. In connection with his appointment, the company entered into an employment agreement granting him 12,500 restricted share units subject to a five-year vesting schedule; he will receive no cash salary. This leadership change supports Maase Inc.'s strategic transformation into a full-stack AI industry platform and aims to accelerate the commercialization of its integrated AI capabilities across computing infrastructure and vertical solutions.