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HONG KONG, May 25, 2021 - (ACN Newswire) - China Dynamics (Holdings) Limited (the "Company"; Stock Code: 476, together with its subsidiaries, collectively "China Dynamics" or the "Group"), a global leader in electric vehicle (EV) technology, has initiated the application process to list the Company's common shares on the Nasdaq (the "Proposed Listing"). Upon approval for trading on the Nasdaq, the Company would continue to trade on The Stock Exchange of Hong Kong Limited.
"As the world's leading exchange for emerging growth companies, we see a Nasdaq listing elevating our profile in the global investment community and increasing awareness of our ongoing global deployments of our advanced EV technologies," stated China Dynamics CEO Miguel Valldecabres Polop. "It is anticipated that additional working capital will be required for the development of our EV business and general working capital. We have considered various ways of raising funds and are of the view that the Proposed Listing represents an attractive opportunity to drive greater market participation and liquidity for our shareholders, increase our base of U.S. retail and institutional investors, attract analyst coverage, and ultimately enhance shareholder value over the near and long term."
Since 2014, China Dynamics has emerged as a leading pioneer manufacturer in electric drivetrain and vehicle networking. It is an integrated driving and logistics solutions provider with the field of lightweight automotive body design and new energy platform power system.
"We also consider this an opportune time for the Proposed Listing as the Group plans to launch several new growth initiatives under the announced proposed name change to EV Dynamics (Holdings) Limited which coincided with the recently proposed federal investments for EV and EV infrastructure announced by the U.S. Government. Our aim is to achieve a valuation that better reflects the true value of our proprietary technology and rapid growth, especially now that it has penetrated the overseas sales market on EV," added Miguel Valldecabres Polop.
The Company's plans for the U.S. follows recently gaining major footholds in the Americas, Europe, Middle East, South East Asia and Japan through strategic investments, joint ventures, partnerships and large fleet sales.
Nasdaq's acceptance for listing the Company's shares on the Nasdaq is subject to approval based on several factors, including satisfaction of minimum listing requirements. The Company expects to satisfy those listing requirements; however, there can be no assurances when or if the application will be approved by Nasdaq.
About China Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics (Holdings) Limited is a pioneer and a prominent player in China's new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas, including new energy platform power system and its key components. It maintains a production base in Chongqing, with a sales network in Mainland China, Hong Kong, Asia Pacific and South America. To better reflect the company's mission to expand its electric vehicle sales to world markets, it has proposed to change its name to "EV Dynamics (Holdings) Limited". To learn more, visit www.chinadynamics.hk.
Forward-Looking Statements
China Dynamics (Holdings) Limited cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by China Dynamics (Holdings) Limited or its advisors that any of its plans or expectations will be achieved, including but not limited to, to management's expectations for revenue growth and global expansion. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in its business, including risks described in its prior press releases and filings with regulatory authorities. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Media Enquiry
Strategic Financial Relations Limited
Vicky Lee +852 2864 4834 vicky.lee@sprg.com.hk
Phoebe Leung +852 2114 4172 phoebe.leung@sprg.com.hk
Eddie Li +852 2114 4170 eddie.li@sprg.com.hk
Website: www.sprg.com.hk
Topic: Press release summary
Source: China Dynamics (Holdings) Limited
Sectors: Daily Finance, Automotive, Daily News
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From the Asia Corporate News Network
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