China Shandong Hi-Speed Financial Group Limited (00412.HK) ("CSFG" or the "Company", together with its subsidiaries collectively known as the "Group") is pleased to announce that Annual General Meeting has approved the proposed change of company name from "China Shandong Hi-Speed Financial Group Limited" to "Shandong Hi-Speed Holdings Group Limited" and to change its secondary name in Chinese from "中國山東高速金融集團有限公司" to "山高控股集團有限公司" so as to reflect the principal businesses and development strategies of the company more clearly.
CSFG said that the decision to change the name of the company is due to the adjustments of development strategies. In 2022, CSFG has been promoting the transformation from a financial investment group to an industrial investment group in an orderly manner, exploring investment opportunities in emerging industries including new energy, new technologies and new consumption as well as continuing to increase the proportion of industrial investments. After the completion of newly-allotted share subscription of Beijing Enterprises Clean Energy Group Limited (BECE) on 19 May 2022, CSFG was interested in approximately 43.45% of the total number of BECE Shares in issue. As the asset structure of the Group experienced significant changes, the new company name "Shandong Hi-Speed Holdings Group Limited" is beneficial for the Group to enhance its profile in Hong Kong's capital market.
CSFG serves corporate and individual clients in mainland China, Hong Kong and the world, providing them with integrated financial services related to cross-border investment and financing needs in mainland China and Hong Kong. CSFG pointed out that the Group set its goal of strategic transformation - becoming an excellent industrial investment group. It adopted the strategic transformation policy of "specialization, concentration, marketization and institutionalization".
CSFG will strive to enrich and improve the diversified investment ability in transformation development and business restructuring, continue to adhere to our core development concept of 'conduct compliance prudentially, develop steadily and healthily', and seize the market opportunities, so as to achieve a new pattern of comprehensive development of the Group and create greater value for all shareholders, investors, and stakeholders of the society.
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