TIDMYTT
RNS Number : 2019F
Zhejiang Yongtai Technology Co Ltd
06 July 2023
Publication of a Prospectus
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA, THE PEOPLE'S REPUBLIC OF
CHINA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE
THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT IS AN ADVERTISEMENT AND NOT A PROSPECTUS AND
NOT AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING,
WITHOUT LIMITATION, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, SOUTH AFRICA OR THE PEOPLE'S REPUBLIC OF CHINA.
Neither this announcement, nor anything contained herein shall
form the basis of, or be relied upon in connection with, any offer
or commitment whatsoever in any jurisdiction. Investors should not
subscribe for or purchase any securities referred to in this
announcement except solely on the basis of the information
contained in the prospectus (the "Prospectus"), including the risk
factors set out therein, published by Zhejiang Yongtai Technology
Co., Ltd. (the "Company") in connection with the offer of global
depositary receipts ("GDRs") representing the Company's A shares
(the "Offer GDRs") and the proposed admission of such GDRs to the
standard listing segment of the Official List of the United Kingdom
Financial Conduct Authority (the " FCA ") and to trading on the
Stock Connect segment of the main market for listed securities (the
" Main Market ") of London Stock Exchange plc (the " LSE ")
(together, the "Admission"). A copy of the Prospectus will shortly
be available for inspection on the Company's website at
http://www.yongtaitech.com, subject to certain access
restrictions.
6 July 2023
ZHEJIANG YONGTAI TECHNOLOGY CO., LTD.
(a joint stock company established under the laws of the
People's Republic of China with limited liability)
Announcement of Publication of Prospectus
Zhejiang Yongtai Technology Co., Ltd. ("Yongtai" or the
"Company", and together with its subsidiaries, the "Group"), a
leading manufacturer of fluorine-containing fine chemicals,
announces that its prospectus in connection with its offering of
GDRs representing A shares of the Company (the " Offering ") has
today been approved by the FCA.
The Prospectus will shortly be submitted to the National Storage
Mechanism and be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy will
also be available shortly on the Company's website at
http://www.yongtaitech.com, subject to certain access restrictions,
and at the Company's registered office located at located at No. 1
Donghai Fifth Avenue, Linhai Park, Zhejiang Chemical API Base,
Zhejiang Province, China.
Huatai Financial Holdings (Hong Kong) Limited is acting as sole
global co-ordinator (the "Sole Global Co-ordinator") and joint
bookrunner, and China Securities (International) Corporate Finance
Company Limited and CLSA Limited are acting as joint bookrunners
(together with the Sole Global Co-ordinator, the "Joint
Bookrunners").
Overview of the Group
The Group is a leading manufacturer of fluorine-containing fine
chemicals, and is one of the few enterprises in the industry that
operates in both inorganic fluorochemical and organic
fluorochemical industries. The Group has built up vertically
integrated industry chains with a rich product portfolio and matrix
covering the upstream, midstream and downstream sectors in the
industries it operates in.
The Group has a horizontally diversified business structure
covering performance materials (new energy lithium battery
materials and liquid crystal materials), pharmaceutical products,
crop science products and trading business .
-- Performance Materials (New Energy Lithium Battery Materials
and Liquid Crystal Materials) Business: By expanding to upstream
lithium fluoride raw materials and downstream electrolyte products,
the Group has formed a vertically integrated industrial chain
covering products from upstream raw materials for lithium salts, to
lithium salts, additives and electrolyte solutions. The Group's
performance materials (new energy lithium battery materials and
liquid crystal materials) mainly include new energy lithium battery
material products (LiPF6 (lithium hexafluorophosphate), LiFSI
(lithium bis (fluorosulfonyl) imide), VC (vinylene carbonate), FEC
(fluoroethylene carbonate), electrolyte solutions) and fluoro
liquid-crystal intermediates.
-- Pharmaceutical Product Business: By expanding to high
value-added downstream sectors, such as active pharmaceutical
ingredients (" APIs ") and finished dosages, the Group has
developed a vertically integrated industrial chain covering key
pharmaceutical fluorine-containing intermediates, pharmaceutical
APIs and pharmaceutical finished dosages in the fields of
cardiovascular, diabetes, central nervous system, anti-infection,
and anti-virus.
-- Crop Science Product Business: B y expanding to high
value-added downstream sectors, such as active crop science
ingredients (" AIs ") and crop science formulations, the Group has
developed a vertically integrated industrial chain covering crop
science intermediates, crop science AIs and formulations including
fluorinated herbicides, fungicides and insecticides.
-- Trading Business: The Group also conducts trading business,
the business models for which include a contract manufacturing
organisation model. The Group's subsidiary Shanghai E-tong Chemical
Co., Ltd. ("Shanghai E-tong") provides technical or financial
support to domestic manufacturers to produce designated AIs and
formulations, and then sells the products to domestic and overseas
customers. The Group also adopts an original equipment
manufacturing model, whereby Shanghai E-tong delegates domestic
manufacturers to produce formulations with Shanghai E-tong's brand
and mainly sells products to overseas markets such as Indonesia and
Nigeria. Meanwhile, Shanghai E-tong also purchases crop science
products and other fine chemicals in China and resells them to
domestic and overseas trading companies and end-customers.
For the years ended 31 December 2020, 2021, 2022 and three
months ended 31 March 2022 and 2023, the Group's total operating
income was RMB3,450.3 million, RMB4,468.7 million, RMB6,336.2
million, RMB1,737.3 million and RMB1,005.9 million, respectively.
During the same period, the Group's total net profit was RMB77.7
million, RMB332.2 million, RMB659 . 6 million, RMB433.5 million and
RMB17 . 0 million, and its return on equity was 3.7%, 8.1%, 16.0%,
11.0% and 0.4%, respectively, providing a good return to the
Group's shareholders.
Corporate Information
Zhejiang Yongtai Technology Co., Ltd. is a joint stock company
with limited liability established pursuant to the Company Law of
the People's Republic of China (the "PRC") .
The Company's registered office is located at No. 1 Donghai
Fifth Avenue, Linhai Park, Zhejiang Chemical API Base, Zhejiang
Province, China.
For further information, please visit the website of the Company
at http://www.yongtaitech.com, or contact +86 0576-85588006.
Disclaimer / Forward Looking Statements
The contents of this announcement have been prepared by and are
the sole responsibility of the Company.
The information contained in this announcement is for background
purposes only and does not purport to be full or complete nor does
it constitute or form part of any invitation or inducement to
engage in investment activity, nor does it constitute an offer or
invitation to buy any securities in any jurisdiction including the
United States, or a recommendation in respect of buying, holding or
selling any securities. No reliance may be placed by any person for
any purpose on the information contained in this announcement or
its accuracy, fairness or completeness.
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States (including its
territories and possessions, any state of the United States and the
District of Columbia), Australia, Canada, Japan, South Africa, the
People's Republic of China or any other jurisdiction where to do so
would constitute a violation of the relevant laws of such
jurisdiction. The distribution of this announcement may be
restricted by laws in certain jurisdictions and persons into whose
possession any document or other information referred to herein
come should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
This announcement does not constitute or form part of any
offering, is not an offer to sell, or solicitation of an offer to
purchase, buy, acquire or subscribe for, or otherwise invest in,
any securities to any person in any jurisdiction, including without
limitation those in the United States (including its territories
and possessions, any state of the United States and the District of
Columbia), Australia, Canada, Japan, South Africa, the People's
Republic of China or in any other jurisdiction in which such offer
or solicitation would be unlawful. The Offer GDRs have not been,
and will not be, registered under the US Securities Act of 1933, as
amended (the "Securities Act"), or the securities laws of any State
of the United States and may not be offered or sold in the United
States unless registered under the Securities Act or pursuant to or
an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and any applicable
state or local securities law. The Company has not made and does
not intend to make any public offer of securities in any
jurisdiction, including, without limitation, in the United
States.
For persons in any member state of the European Economic Area
(the "EEA"), this announcement is only addressed to and directed at
persons who are "qualified investors" ("Qualified Investors")
within the meaning of Article 2(e) of the Regulation (EU)
2017/1129.
For persons in the United Kingdom, this announcement is only
addressed to and directed at persons who are "qualified investors"
within the meaning of Article 2(e) of Regulation (EU) 2017/1129 as
it forms part of retained EU law as defined in the European Union
(Withdrawal) Act 2018 and who (i) have professional experience in
matters relating to investments falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order
2005, as amended (the "Order"), (ii) are high net worth entities
who fall within Article 49(2)(a) to (d) of the Order, or (iii) are
otherwise persons to whom it may otherwise lawfully be communicated
(all such persons being referred to as "relevant persons").
This announcement must not be acted on or relied on: (i) in the
United Kingdom, by persons who are not relevant persons; and (ii)
in any member state of the EEA, by persons who are not Qualified
Investors. Any investment or investment activity to which this
announcement and the Prospectus relate is available only to and
will only be engaged with (i) in the United Kingdom, relevant
persons, and (ii) in any member state of the EEA, Qualified
Investors.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements may be identified by the use of forward-looking
terminology, including the terms "believe", "expect", "anticipate",
"intend", "estimate", "forecast", "project", "will", "may",
"target", "should" and similar expressions, or, in each case, their
negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. Forward-looking statements may and often do differ
materially from actual results. Any forward-looking statements
reflect the Company's current view with respect to future events
and are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Group's business,
results of operations, financial position, liquidity, prospects,
growth and strategies. Forward-looking statements speak only as of
the date they are made.
To the fullest extent permitted under applicable laws, the
Company and each of the Joint Bookrunners and their respective
affiliates expressly disclaims any obligation or undertaking to
update, review or revise any forward-looking statement contained in
this announcement whether as a result of new information, future
developments or otherwise.
Any subscription or purchase of Offer GDRs in the proposed
Offering should be made solely on the basis of information
contained in the Prospectus. The information in this announcement
is subject to change. Before subscribing for or purchasing any
Offer GDRs, persons viewing this announcement should ensure that
they fully understand and accept the risks which are set out in the
Prospectus. No reliance may be placed for any purpose on the
information contained in this announcement or its accuracy or
completeness. This announcement shall not form the basis of or
constitute any offer or invitation to sell or issue, or any
solicitation of any offer to purchase or subscribe for any Offer
GDRs or any other securities nor shall it (or any part of it) or
the fact of its distribution, form the basis of, or be relied on in
connection with, any contract therefor.
The timing of Admission may be influenced by a variety of
factors which include market conditions. There is no guarantee that
Admission will occur. Potential investors should not base their
financial decision on the Company's intentions in relation to
Admission or this announcement. Acquiring investments to which this
announcement relates may expose an investor to a significant risk
of losing all of the amount invested.
Persons considering making investments should consult an
authorised person specialising in advising on such investments.
This announcement does not constitute a recommendation concerning
the Offering. The value of GDRs can decrease as well as increase.
Past performance is not a guide to future performance. Information
in this announcement cannot be relied upon as a guide to future
performance. Before purchasing any securities in the Company,
persons viewing this announcement should ensure that they fully
understand and accept the risks which are set out in the
Prospectus. Potential investors should consult a professional
advisor as to the suitability of the Offering for the person
concerned.
None of the Company, the Joint Bookrunners or any of their
respective affiliates, or any of their or their affiliates'
directors, officers, employees, advisors or agents, accepts any
responsibility or liability whatsoever for or makes any
representation or warranty, express or implied, as to the truth,
accuracy or completeness of the information in this announcement
(or whether any information has been omitted from the announcement)
or any other information relating to the Company, its subsidiaries
or associated companies, whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available or for
any loss howsoever arising from any use of the announcement or its
contents or otherwise arising in connection therewith.
The Joint Bookrunners and their affiliates are acting
exclusively for the Company and no-one else in connection with the
Offering. They will not regard any other person as their respective
clients in relation to the Offering and will not be responsible to
anyone other than the Company for providing the protections
afforded to their respective clients nor for providing advice in
relation to the Offering, the contents of this announcement or any
transaction, arrangement or other matter referred to herein.
Huatai Financial Holdings (Hong Kong) Limited, China Securities
(International) Corporate Finance Company Limited and CLSA Limited
are licensed by the Securities and Futures Commission of Hong
Kong.
In connection with the Offering, the Joint Bookrunners and/or
any of their respective affiliates and/or funds managed by
affiliates of the Company acting as an investor for its or their
own account(s) may subscribe for the Offer GDRs and, in that
capacity, may retain, purchase, sell, offer to sell or otherwise
deal for its or their own account(s) in such Offer GDRs, any other
securities of the Company or other related investments in
connection with the Offering or otherwise. Accordingly, any
references in the Prospectus, to the Offer GDRs being issued,
offered, subscribed, acquired or otherwise dealt in should be read
as including any issue or offer to, or subscription, acquisition or
dealing by, the Joint Bookrunners and/or any of their respective
affiliates and/or funds managed by affiliates of the Company acting
in such capacity. In addition, certain of the Joint Bookrunners or
their affiliates may enter into financing or hedging arrangements
(including swaps) with investors in connection with which such
Joint Bookrunners (or their affiliates) may from time to time
acquire, hold or dispose of GDRs. Neither the Joint Bookrunners nor
any of their respective affiliates intend to disclose the extent of
any such investment or transactions otherwise than in accordance
with any legal or regulatory obligation to do so.
No stabilisation will be carried out in connection with the
Offering.
Unless otherwise indicated, market, industry and competitive
position data are estimates (and accordingly, approximate) and
should be treated with caution. Such information has not been
audited or independently verified, nor has the Company ascertained
the underlying economic assumptions relied upon therein.
Certain data in this announcement, including financial,
statistical, and operating information has been rounded. As a
result of the rounding, the totals of data presented in this
announcement may vary slightly from the actual arithmetic totals of
such data. Percentages in tables may have been rounded and
accordingly may not add up to 100%.
For the avoidance of doubt, the contents of the Company's
website are not incorporated by reference into, and do not form
part of, this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PDISSASUMEDSESW
(END) Dow Jones Newswires
July 06, 2023 05:32 ET (09:32 GMT)
Zhejiang Yong (LSE:YTT)
Historical Stock Chart
From May 2024 to Jun 2024
Zhejiang Yong (LSE:YTT)
Historical Stock Chart
From Jun 2023 to Jun 2024