Shaoneng Group's A-share issuance accepted by Shenzhen Exchange

Guangdong Shaoneng Group announced the Shenzhen Stock Exchange accepted its application for a 2025 non-public issuance of A-shares to specific objects. This action requires further review and approval from the China Securities Regulatory Commission. The issuance aims to raise up to RMB400 million, to be used entirely for supplementing working capital. This initiative is expected to reduce the company's asset-liability ratio, optimize its capital structure, and enhance risk resistance.

Following the issuance, Shaoguan State-owned Assets Supervision and Administration Commission will become the actual controller of Shaoneng Group, with Industrial Assets and Jincai Investment jointly holding 21.75% of the company's shares. This change is projected to strengthen Shaoguan SASAC's leadership role and foster sustainable development.

This strategic move is part of Shaoneng Group's broader efforts to expand its clean renewable energy, ecological plant fiber products, and precision (intelligent) manufacturing businesses. The company emphasizes that the financing aligns with national policies supporting these sectors and will bolster its market competitiveness and core strengths.