MBMC Quick Report: Zhengxin Photovoltaic, a photovoltaic module manufacturer from Jintan, Changzhou, Jiangsu Province, plans to list in Hong Kong.
Recently, Zhengxin Photovoltaic (838463.NQ), a National Equities Exchange and Quotations (NEEQ) listed company from the Industrial Park of Zhixi Town, Jintan District, Changzhou City, Jiangsu Province, announced that its 6th extraordinary general meeting of shareholders in 2024 reviewed and approved the "Proposal on the Company's Initial Public Offering of Overseas Listed Foreign Shares (H Shares) and Listing on the Main Board of The Stock Exchange of Hong Kong Limited".
The announcement stated that in order to promote the company's leapfrog development and open up financing channels in the international capital market,
the company intends to apply for the initial public offering of overseas listed foreign shares (H shares) and list on the Main Board of the Hong Kong Stock Exchange.
The number of H shares to be issued by the company shall not exceed 25% of the company's total share capital after the completion of the offering, that is, no more than 184,304,000 shares (without considering the exercise of the over-allotment option).
Zhengxin Photovoltaic, a high-tech enterprise integrating power station project development and construction, photovoltaic power generation, R&D, production and sales of modules, as well as photovoltaic solutions,
bases its development on the strategy of specialization, scale and internationalization. Relying on advanced automated production lines, a senior technical and R&D team, and high product quality,
it is one of the leading domestic manufacturers of monocrystalline silicon solar photovoltaic modules and polycrystalline silicon solar photovoltaic modules, as well as one of the earliest companies engaged in the development and construction of solar photovoltaic power generation systems.
According to the annual report, Zhengxin Photovoltaic achieved operating revenue of approximately 3.588 billion yuan and a net profit attributable to owners of the parent company of approximately 92.2349 million yuan in 2023.
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