Core Viewpoint - Norland plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international presence, brand image, and funding capabilities for long-term development [1] Group 1: H-Share Issuance - The company is in discussions with intermediaries regarding the H-share issuance and listing, with specific details yet to be determined [1] - The issuance and listing require approval from the board, shareholders, and regulatory bodies including the China Securities Regulatory Commission and the Hong Kong Stock Exchange [1] - There is significant uncertainty regarding the approval and implementation of the H-share issuance [1] Group 2: Fundraising History - Over the past five years, Norland has raised a total of 478 million yuan through two fundraising rounds [2] - In 2020, the company issued 41,126,749 shares at a price of 6.02 yuan per share, raising approximately 229 million yuan after expenses [2] - In 2023, the company received approval to issue 16,106,071 shares at a price of 14.33 yuan per share, raising approximately 224 million yuan after expenses [3] Group 3: Financial Performance - Norland has reported losses for nine and a half consecutive years, with net profits from 2016 to 2025 showing consistent negative figures [5] - The company's net profit attributable to shareholders was -45.18 million yuan for the most recent reporting period, an improvement from -48.14 million yuan in the previous period [6] - Revenue for the latest period was approximately 36.5 million yuan, reflecting a 1.47% increase from the previous year [6]