BAIWANG CO's domestic unlisted shares "fully circulated" have been filed with the China Securities Regulatory Commission

On September 30th, the China Securities Regulatory Commission issued a filing notice regarding the "full circulation" of unlisted shares of BAIWANG CO. According to the filing notice, 52 shareholders of BAIWANG CO plan to convert a total of 135,064,706 shares of unlisted domestic shares into overseas listed shares and list them on the Hong Kong Stock Exchange. If the company does not complete the share conversion within 12 months from the date of issuance of this filing notice and intends to continue the process, it must update the filing materials. Recently, BAIWANG CO released its interim results for the six months ending June 30, 2025, with revenue of 348 million yuan (RMB, the same below), an increase of 23.45% year-on-year; gross profit of 162 million yuan, an increase of 46.84% year-on-year; profit attributable to shareholders of 3.717 million yuan, compared to a loss of 446 million yuan in the same period last year, achieving a turnaround; basic earnings per share of 0.02 yuan