WOLONG ELECTRIC(SH:600580) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-07-21 22:49Group 1 - The company held its 17th temporary board meeting on July 21, 2025, with all 7 directors present, including independent directors participating via communication [2][4] - The board approved the proposal to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its global strategy and competitiveness [3][6] - The proposal requires approval from the shareholders' meeting [5] Group 2 - The H-shares will be publicly offered on the main board of the Hong Kong Stock Exchange, with a nominal value of RMB 1.00 per share [7][9] - The issuance will target global investors, including public investors in Hong Kong and qualified domestic institutional investors [13] - The issuance method will include both public offering in Hong Kong and international placement [15] Group 3 - The proposed issuance scale is up to 10% of the total share capital post-issuance, with an option for an additional 15% through an over-allotment option [17] - The final pricing will be determined based on market conditions and investor demand [20] - The distribution of shares will follow a mechanism that considers the number of valid applications received during the public offering [22] Group 4 - The company plans to use the funds raised for capacity expansion, enhancing production infrastructure, and general working capital [28] - The board's resolutions regarding the issuance will remain valid for 24 months from the date of approval by the shareholders' meeting [30] - The board is authorized to handle all matters related to the issuance and listing of H-shares [32] Group 5 - The company will register as a "non-Hong Kong company" under Hong Kong law to facilitate the listing process [60] - The board approved the appointment of independent directors to enhance governance in line with listing requirements [63] - The company will revise its articles of association and related rules to comply with the new listing regulations [73]