HONG KONG SAR - Media OutReach - 25 May 2021 - 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.
25 May 2021
