Beijing Xunzhong Clarifies Buyback Protections for Dissenting NEEQ Shareholders

Beijing Xunzhong Communication Technology Co., Ltd. Class H ( (HK:2597) ) has provided an update.

Beijing Xunzhong Communication Technology Co., Ltd., a PRC-based communications technology company listed in Hong Kong, holds Domestic Shares previously traded on China’s NEEQ platform in addition to its H shares. Its ultimate controller is chairman and CEO Piao Shenggen, who leads a board comprising both executive and independent non-executive directors.

The company has issued a supplemental announcement clarifying protective measures for dissenting domestic shareholders in connection with its planned delisting of Domestic Shares from NEEQ. It specifies that ultimate controller Piao Shenggen, as sole repurchase obligor, will buy back eligible dissenting shareholders’ Domestic Shares under PRC law within 36 months of a valid application, with execution deferred if shares are pledged or judicially frozen, leaving other aspects of the earlier circular and EGM notice unchanged.

More about Beijing Xunzhong Communication Technology Co., Ltd. Class H

Beijing Xunzhong Communication Technology Co., Ltd. is a PRC-incorporated joint stock company listed in Hong Kong, operating in the communications technology sector. The company’s share capital includes Domestic Shares that are or were quoted on the National Equities Exchange and Quotations (NEEQ) market in mainland China, alongside its H shares traded in Hong Kong.

Average Trading Volume: 56,223

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$1.93B

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