Haid Group spin-off for Hong Kong listing gets advisor's approval

GF Securities Co., Ltd. has issued a positive independent financial advisor's opinion regarding Guangdong Haid Group's proposed spin-off of Haid International Holdings Limited for a Main Board listing on the Hong Kong Stock Exchange. The spin-off is deemed compliant with relevant laws and regulations, including the "Spin-off Rules."

The advisor confirmed that Haid Group's stock has been listed on the Shenzhen Stock Exchange for over three years, meeting a key requirement. Furthermore, Haid Group reported continuous profitability for the latest three fiscal years (2022-2024), with net profits attributable to parent company shareholders, after deducting non-recurring gains and losses, totaling RMB 996,067.96. Critically, the cumulative net profit attributable to parent company shareholders after deducting the share attributable to the spun-off subsidiary reached RMB 833,466.34, significantly exceeding the RMB 600 million threshold.

The spin-off is expected to benefit shareholders and creditors, enhance the parent company's overall valuation, and allow Haid International Holdings to secure independent financing in the international capital markets. The advisor also verified that no abnormal stock price fluctuations occurred in the 20 trading days prior to the board resolution.