HLA Corp plans Hong Kong listing for global expansion

HLA Corp (SSE:600398) announced its intention to issue H-shares and list on the Main Board of The Stock Exchange of Hong Kong Limited. This move aims to advance its global strategy, expand overseas business, and strengthen capital. This initiative, approved by the board on September 25, 2025, includes issuing H-shares with a par value of yuan 1.00 each, to be subscribed in foreign currency. The total H-share issuance will not exceed 15% of the company's total share capital after the issuance (before exercising the over-allotment option). The H-shares will be offered via a Hong Kong Public Offering and an International Placement to institutional and individual investors outside mainland China.

The board also approved revisions to the company's Articles of Association and related procedural rules to comply with Hong Kong listing requirements. These include adjustments to shareholder and board meeting rules, and the establishment of independent directors. These changes will take effect upon the H-share listing. Additionally, the company plans to appoint an auditor for the H-share issuance and listing, and adjust its specialized committee memberships. The retained earnings before the H-share issuance will be shared proportionally by new and existing shareholders after the issuance.