Huaxin Cement Intends to Integrate Overseas Business and Split Overseas Listing

Huaxin Cement (06655) announced that in order to further broaden financing channels, open up and integrate resources, and improve the operating capacity of Huaxin Cement, Huaxin Cement intends to integrate all its overseas assets which are actually engaged in production and operation into the oversea s subsidiaries to be established by Huaxin Cement or its subsidiaries. It also intends to apply for the spin-off of the new subsidiary to an overseas stock exchange for listing.

The announcement said that the split listing is conducive to further broadening financing channels, opening up and integrating resources, improving the operating capacity of Huaxin Cement, enhancing the competitiveness and flexibility of new subsidiaries in overseas capital market financing and M & a transactions, and enhancing the influence of Huaxin Cement in the global cement production and sales industry. It is of great significance to implement Huaxin Cement's long-term strategic goal of "building a leading multinational building material enterprise in the world". This spin-off listing is conducive to the sustainable and stable development of the company as a whole.