Shanxi Meijin Energy Co based in Taiyuan, capital of North China's Shanxi province, got conditional approval from the Swiss Exchange Supervisory Authority to issue global depository receipts (GDRs) in Switzerland's SIX Swiss Exchange on Feb 19.
Globally, GDRs refer to certificates issued by a depositary bank that represent shares traded in two or more overseas stock markets.
Meijin Energy's Swiss GDRs issuance will help the company make full use of the favorable opportunities, such as China-EU capital market connectivity, broadening international financing channels, and ensuring the capital needed to accelerate the development of its hydrogen energy business.
Meijin Energy is one of the largest independent coke and coking coal producers in China, and is an innovator in the transformation and upgrading of the energy industry.
In recent years, it has accelerated the transformation of new energy by relying on its own industrial advantages and technology.
The company has built a hydrogen energy supply and demonstrative application system, and mastered key core technologies such as membrane electrode, power system, and production-storage-transportation processing.
It was listed as one of the top 100 global hydrogen energy enterprises in 2022 and as one of China's high-growth hydrogen energy enterprises in 2022. Recently, it was also included in the list of 2022 Forbes China top 50 sustainable development industrial enterprises for its pioneer work in low-carbon transformation.