On the evening of December 30, Ningbo Deye Technology Co., Ltd. officially announced that the 21st meeting of its third Board of Directors had reviewed and approved the "Proposal on the Company's Issuance of H-Shares and Listing on The Stock Exchange of Hong Kong Limited" along with related plans.
According to the specific plan disclosed in the announcement, Deye intends to apply for a listing on the Main Board of The Stock Exchange of Hong Kong Limited. The proposed number of H-shares to be issued will not exceed 10% of the company's total share capital after the issuance. Additionally, the company may grant the global coordinator an over-allotment option of up to 15% of the aforementioned number of H-shares issued. The issuance will adopt a combination of a Hong Kong public offering and an international offering, targeting professional institutions, corporate entities, and individual investors globally.
To ensure compliant operations following the H-share issuance and listing, Deye's Board of Directors also approved amendments to over ten internal governance systems on the same day, including the "Articles of Association (Draft)." These amendments cover key areas such as the management of raised proceeds, related-party transactions, external guarantees, and investor relations management.
Regarding the selection of auditors, to meet the auditing requirements for this issuance and listing, the company agreed to appoint BDO Limited (Hong Kong) as the auditing firm. It also proposed that the shareholders' meeting authorize the Board and its designated persons to fully determine specific matters such as the scope of work, remuneration, and term of engagement.
Meanwhile, to further perfect the post-listing governance structure and comply with laws and regulations such as the Listing Rules of Hong Kong, the Board—upon the recommendation of the Nomination Committee—agreed to nominate Mr. Lu Zhichao as a candidate for Independent Non-Executive Director of the third Board of Directors. His term will take effect from the date of approval by the shareholders' meeting and the company's official listing, continuing until the expiration of the current Board's term.
The proposed issuance and listing plan is still subject to deliberation at the company's General Meeting of Shareholders and requires filing and approval from regulatory authorities, including the China Securities Regulatory Commission (CSRC) and the Hong Kong Stock Exchange.
Source：EnergyTrend
