Londian Wason New Energy Tech Inc. (FOIL) announced changes to its board and Audit Committee. Young Hyun Kong, a director, tendered his resignation on October 14, 2026, effective immediately, for personal reasons. The company said his resignation was not the result of a disagreement with the company about its operations, policies or practices.
The Board appointed Hongtao Zhang as an independent director and Audit Committee member, effective November 4, 2026. The Board determined that he meets the independence requirements applicable to Audit Committee members under Rule 10A-3 and Section 303A of the NYSE Listed Company Manual. After the changes, the Board will have 11 members, including two independent directors, and the Audit Committee will consist solely of independent directors.
Londian Wason New Energy Tech Inc. (FOIL) is the subject of a Schedule 13G reporting beneficial ownership as of September 30, 2026. Guanran Wang reported beneficial ownership of 200,335,615 shares, or 50.9% of the class. DR Global Holdings Limited reported 131,493,850 shares (33.4%); Jesi Industrial Development (Hong Kong) Limited reported 30,206,719 (7.7%); and Advanced New Energy Material Technology Holding Ltd. reported 28,453,440 (7.2%).
Each reporting person lists sole voting and dispositive power equal to its reported beneficial ownership, with zero shared power. The three entities are ultimately wholly owned by Guanran Wang.
Mirae Asset Global Investments Co., Ltd., Mirae Asset Partners IX Private Equity Fund, Odin 8, LLC and Alexandria III Corp. Limited disclosed shared beneficial ownership of 35,488,829 ordinary shares of Londian Wason New Energy Tech Inc. (FOIL), equal to 9.0% of the class. Alexandria is the record holder; the amounts reported by the four entities refer to the same shares and are not additive. They filed jointly regarding the securities, but not as a group.
The ownership percentage is based on 393,922,705 ordinary shares, including 390,792,185 outstanding after the IPO and 3,130,520 shares represented by 626,104 American Depositary Shares issued September 10, 2026, following partial exercise of the underwriters' over-allotment grant.
Londian Wason New Energy Tech Inc. (FOIL) reported the closing of a partial exercise of the underwriters’ over-allotment option connected to its initial public offering. The company sold an additional 626,104 ADSs at the IPO price of $22.00 per ADS, increasing total Offering gross proceeds to $108,059,996, including previously announced IPO gross proceeds of $94,285,708, before underwriting discounts, commissions and offering expenses.
Londian Wason New Energy Tech Inc. (FOIL) has a significant shareholder group, as SK Inc. and its wholly owned subsidiary Golden Pearl EV Solutions Limited jointly report beneficial ownership of 67,193,167 Ordinary Shares, representing 17.1% of the company’s Ordinary Shares outstanding immediately after an offering.
Golden Pearl EV Solutions Limited, incorporated in Hong Kong, directly holds all of these shares and has sole power to vote and dispose of them, while SK Inc., organized in the Republic of Korea, reports this stake as the parent holding company.
Londian Wason New Energy Tech Inc. (FOIL) announced the closing of its initial public offering of 4,285,714 American depositary shares (ADSs), representing 21,438,570 ordinary shares. Following the IPO closing, the New York Stock Exchange lifted the trading halt on the company’s ADSs and trading has resumed.
The company also includes standard cautionary language that many of its statements about future plans, business development, financial condition, and its offering are forward-looking statements subject to significant risks and uncertainties described in its SEC filings.
Londian Wason New Energy Tech Inc. (FOIL) is updating the terms of its ongoing ADS offering under an effective Form F-1. The company is offering 4,285,714 American Depositary Shares, each representing five ordinary shares, at a public offering price of US$22.00 per ADS.
The underwriters hold an option to purchase up to an additional 642,857 ADSs. Depending on whether this option is exercised, gross proceeds are US$94,285,708 without the option and US$108,428,562 with it, with corresponding net proceeds before expenses of US$87,685,708.44 and US$100,838,562.66. Estimated offering expenses, excluding underwriting discounts and commissions, are approximately US$10,522,194.
The supplement primarily revises the expected closing and delivery timing: following resolution of inquiries concerning previously disclosed complaints, underwriters currently expect to deliver the ADSs against payment in U.S. dollars in New York on or about August 19, 2026. The ADSs trade on the NYSE under the symbol FOIL, and the company is classified as a foreign private issuer.
Londian Wason New Energy Tech Inc. (FOIL) reports that the closing of its initial public offering of 4,285,714 American depositary shares (ADSs), representing 21,438,570 ordinary shares, is expected to occur on or about August 19, 2026, as agreed with the underwriters. The company also reiterates that statements about its proposed offering, use of proceeds, business development, financial condition, results of operations, and legal or regulatory matters are forward-looking and subject to significant risks and uncertainties described in its SEC filings.
Londian Wason New Energy Tech Inc. (FOIL) reports that the New York Stock Exchange has imposed a trading halt on its American depositary shares after the company informed the exchange of a delayed closing of its proposed initial public offering of 4,285,714 ADSs representing 21,428,570 ordinary shares. The registration statements became effective on August 11, 2026 and the ADSs began trading on a when-issued basis on August 12, 2026, but the offering has not closed. Londian states the delay arises from unresolved complaints and related regulatory implications regarding a pre-offering restructuring, including transactions and compliance matters involving its controlling shareholders. The company states these complaints do not relate to its business operations or financial condition and that it is actively addressing them with the aim of completing the offering as soon as practicable.
Londian Wason New Energy Tech Inc. (FOIL) is conducting an initial public offering of 4,285,714 ADSs at US$22.00 per ADS, each ADS representing five ordinary shares, with an additional 642,857 ADS over-allotment option for underwriters. Gross proceeds are US$94.3 million, with approximately US$77.0 million expected in net proceeds to fund global capacity expansion, R&D and general corporate purposes.
The company is a Cayman holding company whose operations are conducted through subsidiaries in China, exposing investors to PRC legal, regulatory, foreign-exchange and cash-transfer constraints. It reports strong growth in electrolytic copper foil, with 2025 revenue of RMB10,942.1 million and a shift from a 2024 net loss of RMB292.9 million to 2025 net income of RMB20.3 million. For the three months ended March 31, 2026, revenue rose 113.7% year over year and net income reached RMB134.5 million, while adjusted EBITDA margin improved to 9.3%.
Material risks include dependence on EV and electronics demand, customer and supplier concentration, significant leverage and prior working-capital deficiency, PRC regulatory and currency controls, and potential HFCAA-related delisting risk if PCAOB access to PRC/Hong Kong auditors is restricted in the future.