Jinyuan Hydrogenation (02502) issued an announcement. In response to the application for full circulation of shares, the company accepted it on April 19, 2024...
According to the Zhitong Finance App, Jinyuan Hydrogenation (02502) issued an announcement. In response to the application for full circulation of shares, the company received a filing notice from the China Securities Regulatory Commission dated April 18, 2024 on April 19, 2024. The filing notice is valid for 12 months from the date it is issued.
All existing unlisted share holders of the company have decided to participate in the plan and have authorized approval to convert their unlisted shares to H shares. Based on this, the company converted a total of no more than 717 million unlisted shares into H shares that can be listed and traded on the main board of the Stock Exchange.
The company's board of directors has passed a motion to implement the conversion. The conversion will take place as soon as the company has completed the other pre-procedures required for this conversion.
The Group is a supplier of hydrophenyl chemicals and energy products in Henan Province. It mainly focuses on (i) production and processing of hydrophenyl chemicals (mainly including pure benzene, toluene and xylene); (ii) production and processing of energy products (including liquefied natural gas and gas); and (iii) hydrogen purification and operation of hydrogenation stations. The company believes that participation in the program will have a positive impact on the company and its shareholders. After the conversion is completed, the company's H share tradable share ratio and market value in circulation will increase, the shareholder structure of the company's H shares will be further diversified, and the company's image and reputation will also benefit from the implementation of the conversion. The transformation will bring the company and its shareholders closer together, and promote the company's value enhancement and continued development.