Yonyou Network Technology (600588.SH) announced that the company is planning to issue Overseas shares (H shares) and list them on the Hong Kong Stock Exchange.
According to the Zhito Finance APP, Yonyou Network Technology (600588.SH) announced that to advance its Global Strategy 2.0 and strengthen connections with Overseas Capital Markets, the company is planning to issue Overseas shares (H-shares) and be listed on the Hong Kong Stock Exchange. This H-share issuance and listing still require submission for approval at the company's shareholder meeting and must be filed with the China Securities Regulatory Commission and obtain approvals from the Hong Kong Stock Exchange and the Hong Kong Securities and Futures Commission.
The company reminds that there is still significant uncertainty regarding this H-share listing, and investors should be aware of the investment risks.
According to the information, Yonyou Network Technology Co., Ltd. was established in 1995, located at No. 68 Beiqing Road, Haidian District, Peking. It is a company primarily engaged in providing services to large enterprises, medium-sized enterprises, small and micro enterprises, and government and other public organizations.
According to the company's published 2024 annual report, in the 2024 fiscal year, Yonyou Network's revenue was 9.153 billion yuan, a year-on-year decline of 6.57%; the net loss attributable to shareholders of the listed company was 2.061 billion yuan, an increase in loss; the net loss attributable to shareholders of the listed company after deducting non-recurring gains and losses was 2.038 billion yuan, an increase in loss; the basic loss per share was 0.62 yuan; revenue from Cloud Computing Service was 6.85 billion yuan, slightly down by 3.4%.
