Shandong Hi-Speed New Energy granted public float waiver

Shandong Hi-Speed New Energy Group Limited (HKEX: 01250) has been granted a temporary waiver by the Stock Exchange of Hong Kong from strict compliance with the minimum public float requirement outlined in Rules 8.08(1)(a) and 13.32(1) of the Listing Rules. This follows a share offer that resulted in only 21.31% of the company's shares being held by the public, falling short of the required 25%. The waiver is effective from February 18, 2025, to May 17, 2025, subject to the announcement's publication. The company intends to restore the public float by placing down or selling shares to independent third parties or in the open market. The Stock Exchange reserves the right to withdraw or modify the waiver should the company's situation change.