Robo.ai Implements 1-for-20 Reverse Stock Split and Expands Global Operations

Robo.ai has announced a 1-for-20 reverse stock split of its ordinary shares, according to a press release. The company stated that the move is part of a capital structure optimization plan aimed at improving share liquidity and attracting institutional investors.

Fractional shares resulting from the split will be rounded up to the nearest whole share to protect existing shareholders. Robo.ai also reported progress in reducing net debt through the restructuring and spin-off of debt-bearing subsidiaries, creating a stronger financial foundation for future expansion and potential mergers or acquisitions.

In its operational update, the company highlighted growth in its data services, hardware distribution, and strategic restructuring units. Robo.ai is expanding its commercial presence through the acquisition of a controlling stake in ChinaSky, which operates automobile sales in overseas markets and is expected to contribute to revenue and cash flow.

The company is also in discussions with government entities and partners in the Middle East on projects involving smart mobility, unmanned systems, and city-level applications. Robo.ai plans to release its financial performance report within the next month.