Chen Yitang: Hong Kong Stock Exchange (00388) is open-minded towards reviewing the rules on dual-class share listings and will subsequently promote the establishment of a reserve talent pool for female directors.

Since the Hong Kong Stock Exchange (00388) first allowed companies with dual-class share structures to list in Hong Kong in 2018, CEO Li Xiaoting stated that the Hong Kong Stock Exchange has an open attitude towards reviewing the rules related to "Weighted Voting Rights (WVR)". The revised "Listing Rules" by the Hong Kong Stock Exchange came into effect yesterday, requiring boards to be non-monolithic in terms of gender and introducing at least one director of a different gender. Li Xiaoting stated that the next step is to establish a pipeline of female directors to ensure a supply of talent. After receiving feedback from the market, Li Xiaoting indeed believed that certain areas could be reevaluated to see how to further improve the listing system. She pointed out that for these companies, shareholders can decide on the company's structure and have more equal voting rights. Li Xiaoting also mentioned that for Chinese companies listed in the US planning to list in Hong Kong, the Hong Kong Stock Exchange is a stable and trustworthy market, and is attractive due to its connectivity with the mainland. She revealed that the Hong Kong Stock Exchange is currently processing over 300 listing applications, and if confidential applications are included, the number will be even higher.