Huaxin Cement plans spin-off of overseas subsidiary for international listing

Huaxin Cement Co., Ltd. announced plans to consolidate all its overseas operating assets into a new overseas subsidiary, with the intention of listing this subsidiary on an overseas stock exchange. This initiative aims to broaden financing channels, integrate resources, and enhance the company's operational capabilities, ultimately supporting its long-term strategic goal of becoming a leading multinational building materials enterprise.

The planned spin-off will not affect Huaxin Cement's control over the relevant overseas assets, and the new subsidiary will remain a consolidated subsidiary. The primary business of the proposed spin-off entity will encompass cement manufacturing and sales, technical services, ready-mix concrete, aggregates production, and environmental services related to cement kiln co-processing of waste.

The company emphasized that the spin-off is in its early planning stages and involves various internal and external communications. It acknowledged that the project's implementation carries uncertainties, including meeting regulatory requirements and securing necessary approvals, which may impact the final timeline and outcome. Investors are advised to be aware of the associated risks.