Sunwoda Explains Decision to Halt Hong Kong IPO, Citing Balance of Pros and Cons and Development Needs

Deep News10-30 19:20

On October 30, Sunwoda Electronic Co., Ltd. (300207) Vice President and Chief Sustainability Officer Liang Rui stated today that the company's decision to terminate its Hong Kong IPO was made after comprehensively weighing the advantages and disadvantages and considering development needs.

Sunwoda announced in a filing yesterday evening that it would terminate the issuance of H-shares and its listing on the Main Board of the Hong Kong Stock Exchange.

The company explained that the decision was based on a comprehensive assessment of market conditions, changes in the company's own development, and future strategic planning, and was made in accordance with the principle of safeguarding shareholder interests. It will not have a material impact on the company's daily operations or sustainable development.

In July 2025, Sunwoda announced its plan to issue H-shares and apply for listing on the Main Board of the Hong Kong Stock Exchange. On July 30, Sunwoda submitted an application to the Hong Kong Stock Exchange for the issuance of overseas-listed foreign shares (H-shares) and listing on the Main Board.

Sunwoda had stated that the purpose of applying for a Hong Kong listing was primarily to advance the company's globalization strategy, build an international capital operations platform, enhance its international brand image and overall competitiveness, and support the company's long-term development.

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