Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
XINGDA INTERNATIONAL HOLDINGS LIMITED
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 1899)
PROPOSED SPIN-OFF AND SEPARATE LISTING OF
THE MANUFACTURING AND TRADING OF
RADIAL TIRE CORDS BUSINESS
ON A STOCK EXCHANGE IN THE PRC
This announcement is made by Xingda International Holdings Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
The board of directors of the Company (the "Board") wishes to inform shareholders and potential investors of the Company that the Board is considering the feasibility of a proposed spin-off and separate listing of part of the Company's existing business by way of A shares listing on a stock exchange in the People's Republic of China (the "PRC")(the "Proposed Spin-Off"). The business now being considered as the subject matter of the Proposed Spin-off is principally the business of manufacturing and trading of radial tire cords of the Company.
If the Board decides to proceed with the Proposed Spin-Off, the Company will submit a proposal in relation to the Proposed Spin-off to The Stock Exchange of Hong Kong Limited (the "Stock Exchange") pursuant to Practice Note 15 of the Listing Rules for its approval. The Company will also submit an application in relation to the proposed listing of A shares to the China Securities Regulatory Commission ("CSRC") and/or the relevant stock exchange in the PRC for approval.
The Proposed Spin-Off is at a preliminary stage. Approvals by the relevant regulatory authorities have yet to be obtained. The Proposed Spin-Off may or may not materialise and the relevant regulatory authorities in Hong Kong (including the Stock Exchange) and in the PRC may or may not