Dongyue Group splits the silicone company and lists it independently

Recently, Dongyue Group announced that the board of directors of the company has decided to separate Shandong Dongyue organic silicon material Co., Ltd. ("Dongyue organic silicon"), an indirect non wholly owned subsidiary mainly engaged in the manufacturing and sales of organic silicon products, to independently issue and list on the gem of Shenzhen Stock Exchange. The directors of Dongyue expect that after the completion of the spin off proposal, the company's shareholding in Dongyue silicone will be reduced, but it will continue to be the holding company of Dongyue silicone. According to the announcement, if the split proposal is implemented, it will broaden the group's financing channels, expand and strengthen the Dongyue silicone business as soon as possible, enhance its competitiveness and industrial status, increase investment in science and technology and environmental protection, improve profitability, and bring returns to the company's shareholders!