Jiangsu Xinquan plans H-share listing, Mexico investment, and governance updates

Jiangsu Xinquan Automotive Trim Co., Ltd. is advancing its global strategy by pursuing an H-share listing on the Main Board of the Hong Kong Stock Exchange. This initiative aims to enhance governance and access offshore capital, with the company proposing to issue H-shares up to 15% of its total share capital post-listing, with a nominal value of RMB 1.00 per share, to be subscribed in foreign currency. Concurrently, the company is establishing Shanghai Xinquan International Trading Co., Ltd. as a wholly-owned subsidiary with a registered capital of RMB 1,000万元.

In a move to strengthen its international presence, Jiangsu Xinquan plans a USD 11,800万元 capital increase in its Mexican subsidiary, Xinquan Mexico Automotive Trim, S. de R.L. de C.V., maintaining its 99.75% ownership. The board's actions also include revising the Articles of Association and other governance documents to align with H-share listing requirements, renaming the "Strategy Committee" to the "Strategy and ESG Committee," and appointing an independent auditor, Hong Kong BDO Limited, for the H-share listing. The company also nominated Mr. Zhao Ruikun as an independent director, with an annual allowance of RMB 10万元. All proposals require shareholder approval at the upcoming 2026 first extraordinary general meeting on January 21, 2026.