Core Viewpoint - The company is preparing for its H-share listing by revising its articles of association and governance structures to comply with regulatory requirements in both domestic and international markets [1][2]. Group 1: Articles of Association - The company held its 26th meeting of the sixth board of directors on September 30, 2025, to review multiple proposals related to the H-share issuance and listing [1]. - The revised articles of association cover various aspects including establishment basis, listing information, total shares, capital increase/decrease methods, share acquisition, transfer, shareholder rights and obligations, and the powers of the shareholders' and board meetings [1]. - Specific details such as the listing time and number of shares to be issued are included in the revised articles, which will take effect upon the H-share listing on the Hong Kong Stock Exchange [1]. Group 2: Governance Structure - The company is also revising and formulating several governance documents, including 17 key rules such as the "Rules of Procedure for Shareholders' Meetings" and "Rules of Procedure for Board Meetings" [2][3]. - The first four governance documents require approval from the shareholders' meeting, indicating a structured approach to governance reform [2]. - These adjustments are crucial for the company to align with the regulatory requirements of the capital markets and to enhance its governance structure [2].

Core Viewpoint - The company, Sinopharm, is advancing its global strategy by planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international competitiveness and support the development of its pharmaceutical business [3]. Group 1 - The company is currently in discussions with relevant intermediaries regarding the issuance of H-shares and the listing process [1]. - The board of directors and the supervisory board have approved the proposal to seek shareholder authorization for the application of the initial public offering of overseas listed shares (H-shares) [3]. - The specific details regarding the H-share issuance and listing have not yet been finalized [1].

Core Viewpoint - The company, KOTAI Power (300153.SZ), plans to issue shares overseas (H-shares) and apply for listing on the Hong Kong Stock Exchange to enhance its international brand recognition and competitiveness, as well as to strengthen connections with foreign capital markets [1]. Group 1 - The company aims to advance its internationalization strategy to meet the needs of its overseas business layout [1]. - The issuance of H-shares is part of the company's overall development strategy and operational requirements [1]. - The board of directors is requested to authorize the management to initiate preliminary preparations for the H-share issuance and listing [1].

Core Viewpoint - The company has submitted an application for the issuance of overseas listed shares (H shares) and for listing on the main board of the Hong Kong Stock Exchange on September 29, 2025 [1] Group 1 - The application was submitted to the Hong Kong Stock Exchange [1] - The application materials were published on the Hong Kong Stock Exchange's website on the same day [1] - The materials were prepared in accordance with the requirements of the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange [1]

Core Viewpoint - The company, Lingyi Zhi Zao (002600.SZ), is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international strategy and expand overseas business operations [1] Group 1: International Strategy - The company aims to promote its internationalization strategy and strengthen its overseas business layout [1] - The initiative is expected to broaden the company's merger and acquisition as well as financing channels [1] Group 2: Competitive Positioning - The issuance of H-shares is intended to increase the company's international visibility and overall competitiveness [1] - The company assures that this H-share issuance will not lead to any changes in the controlling shareholder or actual controller [1]

Core Viewpoint - The red-chip structure, due to its flexibility and compliance advantages, has become an excellent choice for companies seeking overseas financing and listing amid globalization. However, the process is complex and requires careful navigation of regulatory requirements to avoid potential pitfalls [1]. Key Steps: "Six Steps" from Structure Design to Compliance Loop - The core of the red-chip structure is "overseas holding + domestic operation," utilizing offshore SPVs (such as BVI or Cayman Islands) to hold equity in domestic WFOEs, ultimately leading to overseas listings [3]. - Three key elements must be clarified in advance: equity structure, investment path, and return plan [6]. - The overseas SPV serves as the "core hub," typically registered in BVI (tax transparency, strong confidentiality) or Cayman (high international recognition, ease of listing) [5]. Coordination Principles: "Four Golden Principles" - The 37th document registration is applicable to Chinese individuals (founders, shareholders, employees) to address compliance issues related to overseas holdings [10]. - ODI registration is required for domestic corporate entities to ensure compliance for overseas direct investments [10]. - It is advisable to synchronize the processing of 37th document registration and ODI registration materials to avoid delays in overall progress [10]. Practical Recommendations: Professional Guidance to Avoid Compliance Pitfalls - The establishment of a red-chip structure and compliance with cross-border investment regulations involves multiple areas, including foreign exchange management, business approvals, and tax planning [20]. - Companies are encouraged to consult professional lawyers or advisory firms to develop compliance plans tailored to their specific situations, potentially saving significant costs and time [20].

Core Viewpoint - Guanghetong (300638.SZ) is in the process of applying for the issuance of overseas listed foreign shares (H-shares) and plans to list on the main board of the Hong Kong Stock Exchange [1] Group 1 - The listing hearing by the Hong Kong Stock Exchange Listing Committee is scheduled for September 25, 2025, to review the company's application for issuance and listing [1] - The sponsor of the company's issuance and listing received a letter from the Hong Kong Stock Exchange on September 26, 2025, indicating that the Listing Committee has reviewed the company's application [1] - The letter from the Hong Kong Stock Exchange does not constitute approval for the listing and does not guarantee that approval will be granted [1]

Group 1 - The company has submitted an application for the issuance of overseas listed shares (H-shares) and listing on the Hong Kong Stock Exchange on September 25, 2025 [1] - The application materials are prepared and published in accordance with the requirements of the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange, and may be updated and revised [1] - The subscription for this issuance is limited to qualified overseas investors and domestic qualified investors who are authorized to conduct overseas securities investments under Chinese laws and regulations [1] Group 2 - The company must meet several conditions for the issuance and listing, including obtaining approvals from the China Securities Regulatory Commission, the Hong Kong Securities and Futures Commission, the Hong Kong Stock Exchange, and other relevant regulatory bodies [2] - The implementation of the issuance is subject to market conditions and other factors, indicating uncertainty [2] - The company will fulfill its information disclosure obligations in a timely manner based on the progress of relevant matters [2]

Core Viewpoint - Hailiang Co., Ltd. plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international image and competitiveness, as well as to strengthen connections with overseas capital markets [1] Group 1 - The company is advancing its globalization strategy as part of its overall development plan [1] - The company is currently in discussions with relevant intermediaries regarding the H-share issuance and listing [1] - Specific details of the H-share issuance and listing have not yet been finalized [1]

智通财经APP讯，科大智能(300222.SZ)公告，公司拟筹划境外发行股份(H股)并申请在中国香港联交所 主板挂牌上市。截至目前，公司正在计划与相关中介机构就本次发行H股并上市的相关工作进行商讨， 关于本次发行H股并上市的细节尚未确定。 ...