Longbai Group discontinued its listing on the main board of the Hong Kong Stock Exchange

On the evening of November 4, Longbai Group (002601) announced that based on the current capital market environment, comprehensive consideration of the company's current actual operating conditions, capital needs and business development planning, after careful analysis and demonstration, the company decided to terminate the planning to issue H shares and listed on the main board of the Hong Kong Stock Exchange related matters.

As for the reasons for the termination of planning to issue H-share shares and go public, Longbai Group said that since the planning of this issue and listing began in April 2021, the company's board of directors, management and relevant intermediaries have been actively promoting various work, and the main approval procedures of this issue and listing have been basically completed. At present, the A1 application submitted by the company to the Hong Kong Stock Exchange has expired; Most of the projects of the company have been implemented step by step, and there is little capital demand at the present stage. After careful analysis and repeated communication with intermediaries, the company has decided to terminate the issue of H shares.