Summary by Moomoo AI
Zhonglian Heavy Science Co., Ltd. (“Zhonglian Heavy Machinery”) announced that its subsidiary Hunan Zhonglian Heavy Duty Intelligent High Aerial Operating Machinery Co., Ltd. (“Zhonglian High-lift”) will be re-listed. This IPO has been audited and supported by independent financial advisor China International Financial Corporation, which considers it to comply with the relevant laws and regulations and the requirements of the Split Rules. Since its listing on the Shenzhen Stock Exchange on October 12, 2000, ZHPC has been profitable for three consecutive years, and the split-up CPC is capable of operating independently. The delisting is expected to strengthen CUHK's capital strength, enhance market competitiveness and contribute to the overall performance of CUHK. In addition, CID shares did not fluctuate in price by more than 20% during the 20 trading days prior to the announcement of the split and there were no anomalies. A split listing will help preserve the legitimate interests of shareholders and creditors and is expected to enhance the company's overall market value.