Hanergy Announces “Three-Step” Roadmap for Returning to China’s A-Share Market
Beijing, June 14, 2019 - The multinational clean energy company, Hanergy Mobile Energy Holding Group, on June 12th, held shareholders’ meeting to officially announce the “three-step” roadmap for returning to China’s A-share market. The company revealed that it’s estimated to complete asset restructuring and introduce strategic investors within this year. At the meeting that was followed by dinner, the first batch of Hanergy’s independent shareholders were issued special purpose vehicle (SPV) shares.
Nearly 500 guests from different aspects, including the All-China Federation of Industry & Commerce, local governments, dozens of financial institutions, investment institutions, industry associations, business partners and shareholder representatives attended the meeting and witnessed this major moment in Hanergy‘s development. The meeting concluded that the 230-day privatization work was successfully completed, and Hanergy is in a full speed in returning to A-share market.
Expressing his gratitude to the shareholders for their unremitting support and confidence in the company over the last few years, Mr. Li Hejun, Founder of Hanergy, said, “I want to express the gratitude for the trust and support from shareholders, business partners, customers, governments, the media and the society in the past few years. I should thank all the difficult times which make us constantly do self-reflection to identify our own problems, and try to overcome the challenges we faced with.”
Li adds, “The environment in China currently is very conducive to the company’s growth, with the country’s focus on supporting the development of private enterprises and aiding high-tech enterprises to return to A-share market.”
Yuan Yabin, President of Hanergy Mobile Energy Holding Group, said, “Dozens of financial investment institutions are optimistic about Hanergy returning to A-share market. At present, our A-listing advisory body has kicked off its work. After the completion of business restructuring and share reform, it will attract some enterprises to be our strategic shareholders, including enterprises having synergy with Hanergy's businesses and large financial investment institutions. These works are expected to be completed within this year. Then we will start the pre-listing tutoring and submit the listing application materials. We would consider both the Science and technology innovation board (STIB) and the main board."
According to Hanergy’s privatization plan, one share of Hanergy Thin Film Power will be converted into one SPV share. Three Hanergy's independent shareholder representatives, Mr. Lui Chi Wa , a Hong Kong shareholder, Mr. Wen Xiaolin, a shareholder through Shanghai-Hong Kong Stock Connect Program, and Mr. Li Xiao, a Hanergy staff shareholder, received SPV shares at the meeting.
The Hong Kong shareholder Mr. Lui Chi Wa said, “I’m confident of Hanergy returning to A shares market. There are dozens of stocks suspended in Hong Kong stock market, but Hanergy is the only one that is reborn in a new way. I would like to express our gratitude on behalf of Hong Kong's shareholders.”
According to Hanergy, after listing in China’s A-share market, the independent shareholders will hold listed company shares through holding the SPV shares, by then they can choose to unfreeze their share values.
“Hanergy will act to prove you made the right choice. We’ll return shareholder’s trust and support with better company revenues,” said Li Hejun at the end of the meeting.