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Dongyue Associate Future Materials Withdraws Shanghai IPO Application

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Dongyue (HKG:0189) said its associate, Future Materials, withdrew its application for an initial public offering on Shanghai's STAR Market due to changes in its business development plans, according to a Tuesday Hong Kong bourse filing.

The Shanghai Stock Exchange has discontinued its review of the listing application, the company said.

Future Materials plans to consider submitting a new listing application at an appropriate time.

Dongyue Group said the withdrawal is not expected to have any adverse impact on its business operations or financial position.

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