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Ningbo, China–(Newsfile Corp. – July 27, 2022) – On July 24, Ningbo Shanshan Co., Ltd (600884.SH) announced that the company is planning to issue global depositary receipts (GDRs) and go public on the SIX Swiss Exchange. The very GDR, the said China’s No.1 new energy materials stock of the “China-Switzerland Connection”, will list on the SIX Swiss Exchange on July 28, 2022 (Swiss time).

The announcement showed Shanshan will issue 15.4423 million shares of GDR at a price of US$20.64 per GDR, that is equivalent to 77.2115 million shares of Chinese A share, raising about US$319 million.

Shanshan, as a “China-Switzerland Connection” GDR issuing entity and new energy materials GDR issuing entity that took the initiative to announce pricing, successfully won the approval the CSRC, the conditional approval of the SIX Exchange Regulation to its listing application, and the approval of the SIX Exchange Regulation to its prospectus on time by complying to the rules and regulations throughout the process. Due diligence was also performed by the intermediaries involved in the project, that confirmed the company’s qualifications and abilities.

Highlight as the No.1 new energy materials stock of “China-Switzerland Connection”

Shanshan’s core business is R&D, production and sales of lithium battery anode materials and polarizers. Currently, the global new energy vehicle industry is in a stage of accelerated development. As a forerunner and leader in lithium battery materials, Shanshan is deeply involved in the development and reformation of the global new energy vehicle industry, and will continue to increase resource investment in overseas markets and establish a product innovation R&D, production and sales system for the global market to further enhance the company’s global competitiveness.

To further consolidate the global leading position in the field of polarizers, Shanshan will promote the internationalization of innovative products, enhance the global supply capacity of raw materials, improve reputation in the global market, and expand global market share.

In February 2021, the company acquired LG Chem’s LCD polarizer business, entered the optoelectronic display material market and realized the localization of polarizers.

From the company’s perspective, issuing GDR and listing on the SIX Swiss Exchange in response to Chinese government’s policy on domestic capital market, is a key strategy to reinforce China’s exchange and connection with European capital market, as well as an important move to boost the development of China’s real economy by using foreign capital market.

Shanshan said it will make full use of the favorable opportunity of capital market reform and the strong support of policies to achieve direct connection with overseas capital markets, enhance the company’s overseas brand awareness and influence, expand overseas financial financing capabilities, and contribute to the company’s internationalization with adequate funds and financial resources for development.

From the perspective of corporate governance, Shanshan believes that by planning the overseas issuance of GDRs and listing on the SIX Swiss Exchange, the company can introduce overseas professional investment institutions and industrial investors to further optimize the company’s equity structure and continuously improve corporate governance. The level of transparency and standardization provides a solid governance mechanism guarantee for the company’s high-quality development.

As one of the largest stock exchanges in Europe, the SIX Swiss Exchange has a relatively high valuation of companies in terms of price-earnings ratio with high competitiveness. Shanshan is expected to gain more favor from the capital market when mapping its international global strategy.

City: Ningbo
Company Name: NINGBO SHANSHAN CO.,LTD
Website: www.shanshan.com
Telephone: 0574-88208375, 0574-88208337
Contact: Zhangxin
Email Address: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131775

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