PHANCY (06682) has announced that its board of directors has reviewed and approved a proposal to implement a full circulation of H shares.

The proposal involves converting approximately 53.1577 million domestic shares, which are currently not listed, into H shares. These shares are held by the company's controlling shareholder and other shareholders.

This amount represents about 9.52% of the company's total issued share capital as of the announcement date.

The implementation of the H share full circulation plan is subject to completing the filing procedures with the China Securities Regulatory Commission and obtaining approval from The Stock Exchange of Hong Kong.