Singyes Solar finalises spin-off and listing of new materials unit

China-based firm Singyes Solar Technologies Holdings (HKG:0750) said on Friday it has completed the spin-off and listing of its new materials unit.

China Singyes New Materials Holdings Ltd makes Indium Tin Oxides (ITO) film, polymer dispersed liquid crystal film (smart film), electronically switchable glass (smart light-adjusting glass) and smart light-adjusting projection systems. Following the spin-off, it will be a non-wholly-owned subsidiary of Singyes Solar. The change will become effective immediately.

China Singyes New Materials’ shares started trading on the Growth Enterprise Market (GEM) of the Hong Kong Bourse on July 21 with ticker “8073.”

Singyes Solar noted that the operating results of Singyes New Materials Holdings and its subsidiaries will continue to be included into its consolidated financial reports. When announcing its plans for the spin-off in September 2016, Singyes Solar said it intends to focus its business on engineering, procurement and construction (EPC) services for photovoltaic (PV) parks.

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