*ST Meili Denies China State Shipbuilding Assets IPO Rumors
*ST Meili has stated on an interactive platform that its current collaboration with China State Shipbuilding Corporation International Engineering Co., Ltd. in the field of construction engineering is a normal business activity based on strategic synergy and business complementarity. The company clarified that this business segment accounted for approximately 4.3% of its revenue in the first quarter of 2026, indicating a minimal impact on the company.
Furthermore, *ST Meili explicitly denied any situation involving China State Shipbuilding assets undertaking a backdoor listing. The company emphasized that these collaborations are purely commercial arrangements and do not represent any form of asset restructuring or backdoor listing by the shipbuilding group.
The company's statement addresses market speculation regarding a potential backdoor listing involving state-owned shipbuilding assets. By quantifying the revenue contribution of the relevant business segment at 4.3%, *ST Meili aims to de-emphasize its significance and mitigate concerns about a substantial asset injection. This proactive clarification seeks to manage investor expectations and maintain market stability, particularly in light of the strategic importance often associated with state-owned enterprises. The company's emphasis on 'normal commercial behavior' suggests a focus on operational integration rather than financial engineering, a distinction crucial for navigating regulatory scrutiny and investor confidence in the evolving landscape of capital markets.
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