Xiamen Koto Telecommunications Technology Co., Ltd.'s Hong Kong IPO has been approved by the China Securities Regulatory Commission.

The International Cooperation Department of the China Securities Regulatory Commission (CSRC) issued a Notice on the filing of the overseas issuance and listing of Xiamen Koto Communication Technology Co., Ltd. and the "full circulation" of domestically unlisted shares. The company intends to issue no more than 11,629,100 shares of overseas listed common stock and list them on the Hong Kong Stock Exchange. A total of 20 shareholders of the company plan to convert their combined 88,153,289 shares of domestically unlisted shares into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange.