Shanghai Forest Cabin Cosmetics Group Co., Ltd. (FOREST CABIN, 02657.HK) announced that its board has approved a proposed H-share full-circulation programme.

Key points

• Share conversion scope: 33.57 million domestic unlisted shares will be converted into H shares, representing approximately 23.68% of the company’s total issued share capital.

• Regulatory pathway: The plan requires (1) filing with the China Securities Regulatory Commission (CSRC) and (2) approval from Hong Kong Exchanges and Clearing Limited/The Stock Exchange of Hong Kong Limited (HKEX).

• Listing application: Upon receipt of all regulatory approvals, the company will apply for the listing and trading of the converted H shares on HKEX’s Main Board.

• Corporate governance: Under the company’s articles of association and relevant PRC regulations, a shareholders’ meeting is not required for this conversion.

• Status update: As of the announcement date (16 March 2026), FOREST CABIN has not yet submitted application materials to the CSRC or HKEX. Further announcements will be issued as progress is made.

Risk reminder: The conversion and listing remain contingent on approvals from the CSRC, HKEX, and other regulators. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.