London Stock Exchange : Mingyang Smart Energy Group Limited lists GDRs on the London Stock Exchange

• Global renewable energy solutions provider Mingyang Smart Energy Group Limited raises $657 million through GDR offering on the London Stock Exchange through Shanghai-London Stock Connect
• Mingyang qualifies for the London Stock Exchange's Green Economy Mark upon listing in recognition of revenues derived from green products and services
• The listing underlines London as a leading global hub for sustainable finance

The London Stock Exchange, an LSEG business, today welcomes Mingyang Smart Energy Group Limited (Mingyang) admission for trading on the Shanghai Segment of the Main Market. The wind turbine manufacturer and smart energy provider based in China raised $657 million through an offering of Global Depositary Receipts (GDRs), valuing the company at $9.96 billion. Proceeds from the listing will be used to support the growth of its international business, while scaling the production of renewable energy infrastructure.

The China-based enterprise has qualified for the London Stock Exchange's Green Economy Mark. The Green Economy Mark identifies London-listed companies that generate 50% or more of total annual revenues from products and services derived from the green economy, using FTSE Russell's Green Revenues Classification System. The Green Economy Mark identifies an investible universe of 'green economy' equities, recognising companies and funds contributing to meeting environmental objectives. In doing so, the Mark raises the profile and visibility of these issuers among investors and the wider market. Mingyang is one of the leading global solutions providers within the renewable and offshore wind sectors.

Julia Hoggett, CEO of LSE plc said:
"The listing of Mingyang GDRs through Shanghai-London Stock Connect identifies London as a truly international financial centre. It also showcases the importance of our capital markets in funding green growth and furthering sustainability in the global economy. The partnership between the London Stock Exchange and the Shanghai Stock Exchange is a pathway to a vibrant, diverse market which cultivates financial ties between the UK and China, as well as providing financing choice to issuers contributing to the global transition to a low carbon economy."

Zhang Chuanwei, Chairman of Mingyang said:
"The listing of Mingyang Smart Energy Group Limited GDRs through Shanghai-London Stock Connect will enable us to promote the implementation of our strategy and support growth of our smart energy enterprise in markets outside of China and help the company's internationalisation process. Our aim is to become a full lifecycle renewable solutions provider. Through technological and business innovations, we are becoming an industry leader in providing integrated wind power, photovoltaics, power storage and hydrogen power solutions. I would like to extend my sincerest respect and gratitude to the regulators in China and United Kingdom, as well as both the London Stock Exchange and Shanghai Stock Exchange."

FTSE Russell's 2022 report on investment opportunities within the green economy identified China as having the second largest share by country in the global green economy at 12%, after the United States. The report also found that China also has a 7% exposure to the green economy, above the global average of 5%. Shanghai-London Stock Connect brings together two of the world's largest capital markets and enables international investors to access securities fungible with China's A-Shares on an exchange outside China, using international trading and settlement practices. With this listing, $6.5 billion has been raised by issuers via the mechanism since its launch in 2019. GDRs issued via Shanghai-London Stock Connect feature across the full suite of the London Stock Exchange's trading services including Turquoise and Turquoise Plato midpoint and electronic block trading. Further information on Shanghai-London Stock Connect can be found here.

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