Recent share price and trading volume increases have been observed for Zhongmiao Holdings (Qingdao) Co., Ltd. (Stock Code: 1471). The board of directors states that, apart from information disclosed regarding full circulation of H shares, it is not aware of other causes for the recent movements.

According to the announcement, the company has submitted an application to the China Securities Regulatory Commission (CSRC) to convert 105,895,600 domestic unlisted shares, representing 75% of the total issued share capital, into H shares. Once approved by relevant regulatory authorities, the unlisted shares will be eligible for listing and trading on The Stock Exchange of Hong Kong Limited.

No shareholders’ meeting is required for this application under the company’s Articles of Association and relevant laws in the People’s Republic of China. Further updates will be issued by the company as the process progresses. The board advises shareholders and potential investors to exercise caution when dealing in the company’s shares.