Gotion High-tech: GDRs listing has been approved by China Securities Regulatory Commission
Gotion High-tech has disclosed for the first time on March 16 that the Company proposes to issue GDRs overseas and list on the SIX Swiss Exchange AG. The proceeds of GDRs raised will be mainly used to support the expansion of the Company’s business, particularly to grow its overseas production capacity of battery products and raw materials through investment in fixed assets, acquisition of equity interests or other means, to increase the Company’s international footprint.
As a world-leading and rapidly expanding provider of new energy solutions, Gotion High-tech has reached strategic cooperation with a number of international customers and signed product sales orders, and plans to increase the production capacity of EV batteries and supplementary components in overseas markets such as Europe, North America, and Asia. The Company believes that this GDRs issuance will help it to expand the global market share of its products, promote the diversification of shareholder structure, and continue to boost the steady development of the Company.
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