Shenzhen Kaifa subsidiary to list on Beijing Stock Exchange

Shenzhen Kaifa Technology (SZSE:000021) announced that its holding subsidiary, Chengdu Kaifa Technology, will list on the Beijing Stock Exchange (BSE) on March 28, 2025. Prior to the IPO, Shenzhen Kaifa held 69.72% (70 million shares) of Chengdu Kaifa. Following the IPO, Shenzhen Kaifa will still hold 52.29% (or 50.40% after full exercise of the over-allotment option) of Chengdu Kaifa, remaining the controlling shareholder, and will continue to consolidate its financial statements. The IPO consists of 3,346.6667 million shares issued at a price of 30.38 RMB per share and will result in a total outstanding of 13,386.6667 million shares. Shenzhen Kaifa believes the listing will enhance Chengdu Kaifa's reputation and competitiveness. Concurrent with the BSE listing, Chengdu Kaifa's shares will be delisted from the National Equities Exchange and Quotations (NEEQ) system.