Shaoneng Group gets government green light for share issuance

Guangdong Shaoneng Group Co., Ltd. announced on September 23, 2025, that it has received approval from the Shaoguan Municipal People's Government State-owned Assets Supervision and Administration Commission for its targeted share issuance.

The approval, outlined in "Shaoguochanquan [2025] No. 149," permits Shaoguan Financial Holdings Group to subscribe for company shares up to 400 million yuan. This subscription involves a maximum of 101,010,100 shares, with provisions for adjustments in the event of stock splits, bonus issues, or capital reserve conversions.

The company's board of directors approved the share issuance on July 3, 2025, and shareholders subsequently sanctioned it at the fourth extraordinary general meeting in 2025.

The proposed share issuance is still contingent on registration approval from the China Securities Regulatory Commission before it can be executed. Guangdong Shaoneng Group has committed to fulfilling its information disclosure obligations as the matter progresses.