Yik Wo International to appoint professional parties to proceed with the preparation of application for the possible transfer of listing
HONG KONG SAR - Media OutReach - 23 February 2023 - Yik Wo International Holdings Limited (HKEx stock code: 8659, the "Group" or "Yik Wo") is pleased to announce that the Board has appointed professional parties to proceed with the preparation of application for the possible transfer of listing from GEM to the Main Board of the Stock Exchange.
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 2020, 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, no 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 over two years. Thanks to the effort made by the team, the Group has successfully expanded its business and size. We evaluate the possibility of transferring the listing, hoping to bring better returns to our shareholders. The Group will make further announcements in due course to ensure shareholders and potential investors are informed of the progress of the matter."
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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 fourth largest disposable plastic food storage container company in the PRC with a market share of 2.2% in 2019 in terms of sales. 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.
