On the evening of July 22, two companies listed in the lithium battery industry, Sugo and Kodak, issued a reminder announcement on the issuance of Global Depositary Receipts (GDRs) and listing on the Swiss Stock Exchange, becoming the first A-share companies to be listed on the Swiss Stock Exchange.

　　On the evening of July 24, the two companies announced again that the issued GDRs are expected to be listed on the SIX Swiss Exchange on July 28, 2022 Swiss time.

　　Both companies have high growth in performance

　　Kodak Manufacturing announced in the evening of July 24 that the company has determined the final price of the issue at $14.43 per GDR. The total number of GDRs issued by the company is 12 million, the underlying securities represented by 60 million A shares, the total amount of funds raised is $173 million, the issue is not offered under the over-allotment option GDRs. the company expects that the issue of GDRs will be officially listed on the SIX Swiss Exchange on July 28, 2022 Swiss time.

　　KODAK Manufacturing's 2022 semi-annual results forecast shows that the company expects to achieve net profit attributable to shareholders of the listed company of 2.1 billion to 2.2 billion yuan in 2022 semi-annual, an increase of 412.9% to 437.33% year-on-year.

　　Sugo announced on the evening of July 24 that the company has determined the final price of the issue at $20.64 per GDR. The number of GDRs issued by the Company is 15.44 million, raising approximately USD 319 million. The Company expects that the GDRs issued will be officially listed on the SIX Swiss Exchange on July 28, 2022 Swiss time.

　　Sugo expects to achieve a net profit attributable to owners of the parent company of 1.6 billion to 1.7 billion yuan in the half-year of 2022, an increase of 111% to 124% year-on-year. The main reason for the change in performance is that, benefiting from the sustained high boom of the new energy vehicle industry, the downstream demand for negative electrode materials business is strong, the company continues to strengthen the close cooperation with strategic customers, the head customer accelerates the release of volume, overlapping with the smooth release of the new production capacity of the second phase of the company's Baotou, the shipment of negative electrode materials increased significantly year-on-year; the price of negative electrode raw materials rose significantly during the reporting period, the company through strengthening supply chain management, product structure continued to During the reporting period, the company ensured a solid profitability of product units by strengthening supply chain management, continuous optimization and upgrading of product structure, and improving the level of graphitization self-supply rate.

　　Broaden financing channels

　　It is worth noting that Greenmax, which is also in the lithium battery industry chain, issued a reminder announcement on the issuance of GDRs and listing on the SIX Swiss Exchange on the evening of July 24, and the price range of the GDRs issued was initially determined to be US$12.16 to US$12.52 per GDR. The offering period for the GDRs in the Offering is the same day, July 25, 2022 (Central European Summer Time).

　　The Company expects that the final number and price of the GDR offering will be determined on or about July 25, 2022 (Central European Summer Time) based on the international market offering and through bookbuilding. The total amount of proceeds will be determined based on the final number and price of the GDR issue.

　　According to Huaxin Securities' research report, compared with the fixed issue financing, the offshore issuance of GDR financing will improve the company in the following aspects: firstly, the equity dilution will be reduced because the GDR issue price will not be lower than 90% of the average price of the 20 days before the pricing benchmark date, while the fixed issue price will be 80%, and the number of new shares issued under the same financing scale will be reduced; secondly, the financing channel will be broadened, and through the issuance of GDR, foreign funds can be raised; and Third, improve the shareholder structure, through the docking with the Swiss capital market, can attract overseas long-term investors.