Graphex (6128) has announced that it proposes to apply for redomiciliation from the Cayman Islands to Hong Kong and to adopt new articles of association that comply with Hong Kong law, replacing its existing memorandum and articles of association.
The redomiciliation requires a resolution at an extraordinary general meeting and approval from relevant regulatory authorities.
Graphex pointed out that, given the company is already listed on the Main Board of the Stock Exchange of Hong Kong and its principal place of business is located in Hong Kong, the redomiciliation will reduce cross-border compliance complexity, simplify its legal entity structure, and effectively lower the costs associated with compliance across multiple jurisdictions.
The company added that Hong Kong's rule of law tradition emphasizes fairness, consistency, and judicial independence, creating a stable and predictable environment for business.
It said the city’s status as an international hub attracts companies to redomicile in Hong Kong. It added that the redomiciliation is an important measure to further consolidate its position in Hong Kong, thereby enhancing the confidence of local and international investors in the company and facilitating communication between the company and its investors.
Graphex stated that, apart from the expenses to be incurred, the redomiciliation will not change its relevant assets, investments, management, or financial position, nor will it alter shareholders' shareholding ratios, and the matter will not have any significant impact on its operations.
The company added that the redomiciliation does not constitute the creation of a new legal entity nor will it affect business continuity. Upon redomiciliation, it will establish a registered office in Hong Kong in accordance with Hong Kong law.
Graphex's main businesses are the development and processing of graphene products, particularly graphite anode materials for lithium-ion batteries used in electric vehicles, energy storage systems, and other applications, as well as landscape design services. Last year, 80 percent of the company's revenue came from mainland China, with the remaining approximately 20 percent from the Hong Kong and Macau markets.
𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓
