(Hong Kong, 25 May
2021) – China Dynamics (Holdings) Limited (the “Company”;
Stock Code: 476, together with its subsidiaries, collectively “China Dynamics”
or the “Group”), a global leader in electric vehicle (EV) technology,
has initiated the application process to list the Company’s common shares on
the Nasdaq (the “Proposed Listing”). Upon approval for trading on the Nasdaq,
the Company would continue to trade on The Stock Exchange of Hong Kong Limited.
“As the world’s leading
exchange for emerging growth companies, we see a Nasdaq listing elevating our
profile in the global investment community and increasing awareness of our
ongoing global deployments of our advanced EV technologies,” stated China
Dynamics CEO Miguel Valldecabres Polop. “It is anticipated that additional
working capital will be required for the development of our EV business and
general working capital. We have considered various ways of raising funds and
are of the view that the Proposed Listing represents an attractive opportunity
to drive greater market participation and liquidity for our shareholders,
increase our base of U.S. retail and institutional investors, attract analyst
coverage, and ultimately enhance shareholder value over the near and long
term.”
Since 2014, China
Dynamics has emerged as a leading pioneer manufacturer in electric drivetrain
and vehicle networking. It is an integrated driving and logistics solutions
provider with the field of lightweight automotive body design and new energy
platform power system.
“We also consider this
an opportune time for the Proposed Listing as the Group plans to launch several
new growth initiatives under the announced proposed name change to EV Dynamics
(Holdings) Limited which coincided with the recently proposed federal
investments for EV and EV infrastructure announced by the U.S. Government. Our
aim is to achieve a valuation that better reflects the true value of our
proprietary technology and rapid growth, especially now that it has penetrated
the overseas sales market on EV,” added Miguel Valldecabres Polop.
The Company’s plans for the U.S. follows recently gaining major footholds in the Americas,
Europe,
Middle East,
South East
Asia and Japan through
strategic investments, joint ventures, partnerships and large fleet
sales.
Nasdaq’s acceptance for listing the Company’s shares
on the Nasdaq is subject to approval based on several factors, including
satisfaction of minimum listing requirements. The Company expects to satisfy those
listing requirements; however, there can be no assurances when or if the
application will be approved by Nasdaq.
About China
Dynamics (Holdings) Limited (Stock Code: 476)
China Dynamics
(Holdings) Limited is a pioneer and a prominent player in China’s new energy
commercial vehicles market, as well as a whole-vehicle manufacturer of
specialty passenger vehicles and new energy passenger vehicles. It is an
integrated driving and logistics solutions provider with a solid technological
foundation in diverse areas, including new energy platform power system and its
key components. It maintains a production base in Chongqing, with a sales
network in Mainland China, Hong Kong, Asia Pacific and South America. To better
reflect the company’s mission to expand its electric vehicle sales to world
markets, it has proposed to change its name to “EV Dynamics (Holdings)
Limited””. To learn more, visit www.chinadynamics.hk.
Forward-Looking
Statements
China
Dynamics (Holdings) Limited cautions you that statements in this press release
that are not a description of historical facts are forward-looking statements.
These statements are based on the company’s current beliefs and expectations.
The inclusion of forward-looking statements should not be regarded as a
representation by China Dynamics (Holdings) Limited or its advisors that any of
its plans or expectations will be achieved, including but not limited to, to
management’s expectations for revenue growth and global expansion. Actual
results may differ from those set forth in this press release due to the risk
and uncertainties inherent in its business, including risks described in its
prior press releases and filings with regulatory authorities. You are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date hereof, and we undertake no obligation to revise or update
this press release to reflect events or circumstances after the date hereof.
All forward-looking statements are qualified in their entirety by this
cautionary statement, which is made under the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995.
