At 15:00 on July 13 (8:00 GMT, UK), Mingyang Smart Energy Group Ltd GDRs (global depository receipts) became officially listed on the London Stock Exchange (stock code: MYSE.L).

Mingyang Smart Energy has become the first A-share listed company to complete the overseas GDR listing since the implementation of the new regulations on the interconnection of depositary receipts, and the GDR issuance is the first of its kind in China's new energy sector since the Shanghai-London Stock Connect scheme took effect in June 2019.

On July 11, Mingyang Smart Energy held a ceremony in Zhongshan Hot Spring Resort, and had a video conference with the London Stock Exchange to celebrate the issuance of GDR.

Mingyang Smart Energy is the first Chinese private enterprise listed on the London Stock Exchange since China Securities Regulatory Commission launched the "China-Europe Connect" mechanism for the interconnection of depositary receipts between domestic and overseas stock exchanges in February this year.

By now, Mingyang Smart Energy has been listed in both Shanghai and London, which is going to vigorously promote the company's globalization.

According to the announcement, the listing is valued at $656.89 million, with the price set at $21 per GDR.

Mingyang Smart Energy has also qualified for the London Stock Exchange’s Green Economy Mark upon the GDR listing. The mark is designed to recognize companies and funds contributing to meeting environmental objectives, including climate mitigation and adaptation, waste and pollution reduction, and transitioning to a circular economy.

Reference: The depositary receipt mechanism refers to the issuance and trading of depositary receipts in another capital market with one market's securities as underlying securities. Each depositary receipt represents a certain amount of underlying securities, and investors holding depositary receipts can enjoy the corresponding basic rights and interests of these securities. The underlying securities of depositary receipts can be issued stocks or other securities of overseas companies.