Dongyue Group Limited has announced that its associated company, Shandong Dongyue Future Hydrogen Energy Materials Co., Ltd. (Future Materials), has submitted application documents for the initial public offering of its shares and listing on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange. The application has been accepted by the Shanghai Stock Exchange and is currently under review. Future Materials, which specializes in the research, production, and sale of fluorinated proton exchange membranes and related products, is partly owned by Dongyue Fluorosilicon Science and Technology Group Co., Ltd., a wholly-owned subsidiary of Dongyue Group Limited, holding an 8.33% equity interest, and Shandong Dongyue Organosilicon Materials Co., Ltd., an indirect non-wholly-owned subsidiary, holding a 5.14% equity interest. The application is subject to further approval by the Shanghai Stock Exchange and the China Securities Regulatory Commission. Shareholders and potential investors are advised to exercise caution, as the outcome of the application remains uncertain.
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