HONG KONG SAR - Media OutReach - 31 May 2023 - Yik Wo International Holdings Limited (HKEx stock code: 8659, the "Group" or "Yik Wo") is pleased to announce that on today, the Group submitted a formal application to the Stock Exchange in respect of the Proposed Transfer of Listing to the Main Board, which will not involve any issue of new Shares.
Listed on the GEM in 2020, the Group engages in the design and development, manufacturing and sales of disposable plastic food storage containers. As at 13 December 2022, the Board appointed a financial advisor to evaluate the possibility of transferring the listing from GEM to the Main Board; As at 23 February 2023, the Board has appointed professional parties to proceed with the preparation of application for such transfer, and the formal application has been made to the Stock Exchange at the date of the announcement.
Mr. Xu Youjiang, Chairman and Executive Director of the Group, remarked, "Yik Wo has been listed on GEM for approximately three years. Thanks to the effort made by the team, the Group has successfully expanded its business and size. Through the Transfer of Listing to the Main Board, we hope to further promote the Group's corporate profile and recognition among the investor public, which would be beneficial to the future growth, financing flexibility and business development of the Group, and will create a long-term value to the Shareholders. The Group will make further announcements in due course to ensure shareholders and potential investors are informed of the progress of the matter."
The issuer is solely responsible for the content of this announcement.
About Yik Wo International Holdings Limited
Yik Wo International Holdings Limited, listed on GEM in 2020, engages in the design and development, manufacturing and sales of disposable plastic food storage containers, committed to providing reliable and high-standard products to customers. According to the F&S Report, the Group was the top 10 largest disposable plastic food storage container company in the PRC in 2022 in terms of sales revenue. The Group offers over 400 models of products, mainly sold under our "JAZZIT" brand, with various sizes, designs and shapes, which are primarily sold to customers in the PRC with a small part in overseas countries. In 2022, the Group completed the acquisition to expand its business scope into the film and e-commerce industry.