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On the evening of October 26, BlueFocus Intelligent Communication Group Co., Ltd. (SHE: 300058) announced that it has terminated the issuance of H-shares and its listing on the Hong Kong Stock Exchange.
BlueFocus stated that, based on a comprehensive consideration of the market environment and the company's own development plans, and adhering to the principle of safeguarding shareholder interests and being responsible to shareholders, the company held the fifth meeting of its seventh board of directors on October 26 and agreed to terminate the issuance of H-shares and the listing on the Hong Kong Stock Exchange. The termination of the H-share issuance falls within the scope of authorization granted by the shareholders' meeting to the board of directors to handle at its full discretion, and does not require submission to the shareholders' meeting for review. At present, the company's operations remain stable and orderly. This termination of the H-share issuance and listing is a prudent decision made by the company after comprehensively weighing multiple factors and actual circumstances. It will not have a material adverse impact on the company's daily production and operations, business layout, or sustainable development, and there is no circumstance that harms the interests of the company and all shareholders, especially minority shareholders. As of the close on October 26, BlueFocus shares were quoted at 12.5 yuan per share, with a total market value of approximately 44.88 billion yuan.
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