The hottest Zoomlion plans to issue H shares to bo

Zoomlion plans to issue H-shares to boost international development strategy

Zoomlion plans to issue H-shares to boost international development strategy

China Construction machinery information

Guide: on July 6, 2010, Changsha Zoomlion Technology Development Co., Ltd. (hereinafter referred to as Zoomlion, the company) held a board meeting to form a resolution and issued an announcement, On July 6, 2010, Changsha Zoomlion Heavy Industry Technology Development Co., Ltd. (hereinafter referred to as "Zoomlion" and "the company") held a meeting of the board of directors to form a resolution and issue an announcement, The company plans to issue overseas listed foreign shares (hereinafter referred to as "H shares") and list them on the main board of the Hong Kong Stock Exchange (hereinafter referred to as "H shares issuance and listing")

the company announced that the number of H shares to be issued this time would not exceed 15% of the total share capital of the company after the issuance, and the joint bookkeepers would be granted an over allotment right of not more than 1 h shares to generate an initial friction force of 5% on the clamping surface. The raised funds from this H-share issuance, after deducting the issuance expenses, are intended to be used to expand the company's international business, build and improve the company's domestic and foreign marketing network and service system and support system, so as to accelerate the implementation process of the company's globalization strategy; Carry out industrial upgrading and supporting capacity construction of core components; Build the company's R & D capacity and carry out new technology research, and build the company's digital service and supply chain collaborative management platform to improve the company's R & D level and informatization strength; Supplement the company's working capital, improve the company's capital structure, and other general commercial purposes. If the H-share issuance is successfully completed, with the investment of raised funds, the international development of the company will be accelerated

the company also announced the distribution plan of accumulated profits at the same time, that is, based on the audit results on June 30, 2010 and the total share capital of 1971054705 shares on June 30, 2010, the company will send part of the accumulated profits to all shareholders 15 bonus shares for every 10 shares and cash of 1.7 yuan (tax included) for every 10 shares; In addition, the accumulated profits of the company before the issuance of H shares are shared by the new and old shareholders after the issuance. The distribution plan not only protects the interests of existing shareholders, but also reflects the company's confidence in future development

Zoomlion was founded in 1992 and listed on Shenzhen Stock Exchange in 2000. The company is a leading enterprise in China's construction machinery industry and one of the first 91 "innovative enterprises" in the country. In 2009, it ranked 12th in the global construction machinery industry. Since the company was listed for more than nine years, the compound annual growth rate of operating revenue and net profit has exceeded 50%. In the first quarter of this year, the company achieved an operating revenue of 5.899 billion yuan and a net profit of 745 million yuan, an increase of 67.72% and 145.27% respectively over the same period last year. With the rapid development of Zoomlion, the capital market has played a huge catalytic role. In order to maintain the high-speed development and help eliminate the existing momentum (plastic waste), the company has been committed to implementing the international development strategy, and hopes to take advantage of this H-share offering to promote the better and faster implementation of the international strategy

looking at the development process of caterpillar, Komatsu and other world-class construction machinery enterprises, most of them have experienced the process of product market transformation from domestic to international, from product internationalization to capital internationalization. Internationalization is the only way to build a world-class construction machinery enterprise. It is believed that this H-share issuance and listing of Zoomlion will be the beginning of another new leap for Zoomlion