Concord New Energy Group Limited Announces Successful Secondary Listing on Singapore Exchange

Key Highlights

• Dual Listing Achieved: Concord New Energy Group Limited (the “Company”) has successfully completed its secondary listing of ordinary shares on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST), under the stock code “SEG”. The Company’s shares will continue to be primarily listed and traded on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX), stock code 182.
• Listing Method: The secondary listing was effected by way of introduction, meaning no new shares were issued and no fundraising was conducted in relation to this listing.
• Trading Details: Trading on the SGX-ST commenced with shares available in board lots of 100. The Company’s shares are now accessible to a broader base of investors across Hong Kong and Singapore.
• Singapore Share Transfer Agent: The Company’s share transfer agent in Singapore is In.Corp Corporate Services Pte. Ltd., located at 36 Robinson Road, #20-01 City House, Singapore 068877.
• Share Movement & Settlement: Investors interested in trading or transferring shares between the two exchanges should consult the “Clearance and Settlement” section of the Company’s Introductory Document. Professional advice is recommended for shareholders and potential investors regarding cross-border share movements.

Important Information for Shareholders

• Market Impact: This dual listing marks a significant strategic development, expanding the Company’s investor reach, improving trading liquidity, and potentially enhancing share value due to a widened investor base.
• No Change to Share Structure: The listing is by way of introduction, so there is no dilution of existing shareholders’ holdings.
• Regulatory Compliance: The Company continues to comply with the listing requirements of both Hong Kong and Singapore, increasing its transparency and corporate governance profile.
• Corporate Governance: The Board comprises a mix of executive, non-executive, and independent non-executive directors, led by Chairman Mr. Liu Shunxing, ensuring sound oversight of the Company’s international strategy.
• Potential Share Price Catalyst: Greater market visibility and trading accessibility across two leading Asian financial markets could serve as a catalyst for improved valuation and increased investor interest.

Board Composition

The Board of Concord New Energy Group Limited includes:

• Mr. Liu Shunxing (Chairman)
• Ms. Liu Jianhong (Vice Chairperson)
• Mr. Niu Wenhui (Chief Executive Officer)
• Mr. Zhai Feng
• Ms. Shang Jia
• Mr. Chan Kam Kwan, Jason (Executive Directors)
• Mr. Wang Feng (Non-executive Director)
• Ms. Huang Jian, Mr. Jesse Zhixi Fang, Mr. Zhang Zhong, Ms. Li Yongli, Mr. Chua Pin (Independent Non-executive Directors)

Conclusion

The successful secondary listing of Concord New Energy Group Limited on the Singapore Exchange represents a major milestone in the Company’s growth strategy. By securing a presence in both the Hong Kong and Singapore markets, the Company positions itself to attract a larger and more diverse investor base, enhance share liquidity, and potentially boost its overall market value. Shareholders should monitor developments closely, as the dual listing may have a positive impact on the Company’s trading dynamics and long-term strategic prospects.

Disclaimer: The information contained in this article is provided for informational purposes only and does not constitute investment advice or an offer to buy or sell securities. Investors are advised to conduct their own analysis or consult a professional advisor before making any investment decisions.

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