SF Intra-City Proposes Conversion of 171.76 Million Domestic Shares to Achieve Full H-Share Circulation

Bulletin Express07-14

Hangzhou SF Intra-City Industrial Co., Ltd. (SF Intra-City) has approved a plan to convert 171.76 million currently unlisted domestic shares—representing 18.72% of its total issued share capital—into H shares and seek their listing on the Main Board of The Stock Exchange of Hong Kong.

The shares earmarked for conversion are held by Shenzhen S.F. Taisen Holding (Group) Co., Ltd., one of the company’s controlling shareholders. Following conversion, SF Intra-City expects a larger free float, which management believes will enhance the market capitalisation of tradable shares. Controlling shareholders S.F. Taisen and S.F. Holding Co., Ltd. have affirmed their long-term commitment to the business and state they have no current intentions to pare their stakes.

The board determined that no shareholder meeting is required for the conversion under the company’s Articles of Association and applicable PRC laws. An application for the “full circulation” scheme has been submitted to the China Securities Regulatory Commission (CSRC). Completion of the conversion and subsequent listing remains contingent on regulatory clearance from the CSRC, the Hong Kong Stock Exchange and other relevant authorities.

SF Intra-City will issue further updates as milestones are reached. Investors are advised to exercise caution when trading the company’s shares until definitive approvals are secured.

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