Shareholders agree to issue H-share zoomlion internationalization strategy upgrade

On July 22, the general meeting of Zoomlion held a motion to issue h-share shares and to list on the main board of the Hong Kong stock Exchange.　　Zoomlion Chairman Mr Zhan told our correspondent that the issue of H-shares is mainly based on the company's internationalization strategy, in the hope that by 2015 the company's overseas sales revenue can be up to 50%. "The issuance of H-shares provides a capital platform for the internationalization of the company, not only as a financing channel, but also in the long run to facilitate the company's use of the capital platform for the integration of overseas markets and to enhance the company's international brand status."　　Mr Zhan said the funds raised will be mainly used to expand the company's international business.　　Under the motion, the company plans to approve the issuance of a listing in the general meeting of the shareholders, select the appropriate timing and distribution window to complete this issue listing, the proposed issue of the number of H shares does not exceed the issuance of the company's total share capital of 15%, and the joint bookkeeping manager does not exceed the issue of the number of H shares 15% of the excess placement rights.　　The issue price will take into account the company's existing shareholders ' interests, in accordance with international practice, according to the domestic and foreign capital market at the time of issue, to compare the company's domestic and foreign market valuation level. In February this year, Zoomlion successfully carried out 5.6 billion refinancing, this month, 21st, the major shareholder of Hunan state-owned by the public trading system to increase the 4.1974 million shares, a total cost of 84 million yuan.　　For a short period of continuous capital operation, Mr Zhan said, part is used to "historical scores", the other part is the advance layout of international business. In addition, the temporary shareholders meeting at the same time through the company's profit distribution plan, the end of June 30, 2010, part of the accumulated profits to all shareholders 10 shares to send Red shares 15 shares, every 10 shares of cash 1.7 yuan.　　In addition to this issue of H-shares before the company's accumulated profits from the release of the new and old shareholders share. Since July, Zoomlion shares have soared to 22.35 yuan, up 37.54%. Analysts believe that the issuance and listing of the H-Shares will promote the transformation of zoomlion from product internationalization to capital internationalization, and further accelerate the implementation of the Company's globalization strategy, laying a solid foundation for the company to develop another leap-forward development.