Core Viewpoint - The increasing enthusiasm for converting domestic shares to H-shares among Hong Kong-listed companies is evident, with HuTongDa Network applying to convert 349,749,813 domestic shares to H-shares, which will increase the H-share proportion to 94.21% after completion [1][2][4]. Group 1: Company Actions - HuTongDa Network has submitted an application to the China Securities Regulatory Commission (CSRC) to convert 349,749,813 domestic shares into H-shares, which represents approximately 91.48% of the total domestic shares and about 62.17% of the total share capital [2]. - After the conversion, the total number of H-shares will increase to 530,016,152, making up 94.21% of the total share capital, while domestic shares will decrease to 32,553,685, accounting for 5.79% [2]. - The company has 23 shareholders participating in the conversion, with the largest shareholder, the chairman Wang Jianguo, converting 114 million domestic shares to H-shares [2]. Group 2: Market Context - The H-share market still has a significant amount of domestic shares that cannot be traded, unlike the A-share market, which has already achieved full circulation [1][4]. - The CSRC has been promoting the conversion of domestic shares to H-shares since 2019, and recent regulatory changes have simplified the process, allowing for faster conversions [4][6]. - The market environment has improved, with a notable increase in trading volume in the Hong Kong market, which is driving more companies to consider converting their domestic shares to H-shares [7]. Group 3: Industry Trends - There has been a noticeable increase in the number of companies applying for full circulation of H-shares, with 11 companies obtaining approval for conversion in the last three months, surpassing the total applications from the previous year [6]. - The trend of converting domestic shares to H-shares is expected to continue, with more state-owned enterprises and leading technology firms likely to join this movement [7].
汇通达申请转全流通，内资股转H股热情升温