CHINA GAS HOLD (00384): Yipin Hui has submitted a draft registration statement to the U.S. Securities and Exchange Commission for a potential offering.

China Gas Hold (00384) announced that it plans to independently list several value-added service businesses. The company has submitted proposals for the proposed spin-off listing to the Hong Kong Stock Exchange in accordance with Listing Rule 15. The Stock Exchange has confirmed that the company can proceed with the proposed spin-off listing. Yi Pin Hui submitted a draft registration statement to the U.S. Securities and Exchange Commission on November 12, 2024 (New York time) based on confidential benchmarks for a possible offering. The proposed spin-off listing currently includes (i) an offering; and (ii) distributing American Depositary Shares to shareholders in kind (or providing cash to shareholders who are entitled to fractional American Depositary Shares, opt to receive cash instead of American Depositary Shares, are located in the United States, or are U.S. persons or other non-qualified holders of American Depositary Shares). Yi Pin Hui is a limited company incorporated in the Cayman Islands and acts as the holding company for the value-added service businesses operated by the Yi Pin Hui Group. Through an internal restructuring, Yi Pin Hui indirectly owns all the issued shares of the target company. The Yi Pin Hui Group is mainly engaged in the sale and provision of kitchen and home products and services, including but not limited to kitchen appliances, gas security products, other home products, and other services (including residential upgrade solutions). The company believes that the proposed spin-off listing will be beneficial to both the company and Yi Pin Hui from a business perspective and align with the overall interests of shareholders. The proposed spin-off listing will allow investors to better evaluate the group and focus on retaining core businesses, enabling the company to concentrate and allocate its funds to develop core businesses. Additionally, the proposed spin-off listing will create an additional fundraising platform for the Yi Pin Hui Group, potentially attracting a new group of investors specializing in the kitchen and home products and services industry. The proposed spin-off listing will better reflect the value of the Yi Pin Hui Group and increase its operational and financial transparency, allowing investors to clearly differentiate the performance and potential of the retained group and independently evaluate and assess the performance and potential of the Yi Pin Hui Group.