Zhitong Finance App learned that on August 21, the China Securities Regulatory Commission issued the “Requirements for Supplementary Materials for Overseas Issuance and Listing Filing (August 17, 2026 - August 21, 2026)”. The International Division of the China Securities Regulatory Commission issued supplementary material requirements for a total of 3 companies. Among them, Jinlong Electric is required to further explain the price and pricing basis for previous capital increases and share transfers, whether there are abnormal share prices, and whether there are any benefits transfer. According to the Hong Kong Stock Exchange's disclosure on May 25, Zhejiang Jinlong Electric Co., Ltd. submitted a listing application to the main board of the Hong Kong Stock Exchange, and Nisjin Capital is the sole sponsor.
The China Securities Regulatory Commission requested Jinlong Electric to provide additional explanations on the following matters, and ask lawyers to check and issue clear legal opinions:
1. Please provide additional explanation: (1) The price and pricing basis for your company's previous capital increases and equity transfers, whether there is an abnormal share price, whether there is an abnormal share price, whether there is a transfer of benefits, whether there are actual payments, and whether there are situations where the investment method is faulty; (2) The nature of your company's property rights before reform, please analyze and explain whether the relevant property rights reform actions have been approved by the competent authorities, whether the legal basis is sufficient, and whether the procedures carried out are legal. Please provide the department with a clear opinion on whether the relevant property rights reform actions have been approved by the competent authorities, whether the legal basis is sufficient, and whether the implementation procedures are legal. Legality of the procedure , opinions on whether it has caused the loss of state-owned or collective assets; (3) Please issue a concluding opinion on whether the establishment of your company and previous equity changes are legal and compliant, and the status and effective existence of your company.
2. Please further explain whether the business of your company and its subsidiaries involves areas where foreign investment is restricted or prohibited, and whether they continue to meet the foreign investment entry requirements before and after the current listing and “full circulation”.
3. Please provide additional information on whether the shares held by shareholders who intend to participate in the “full circulation” have been pledged, frozen, or have other rights defects.
According to the prospectus, Jinlong Electric is mainly engaged in the design, development, manufacture and sale of small and medium-sized high-efficiency industrial motors and related control systems. The company has nearly 40 years of experience in motor manufacturing, which can be traced back to the company's predecessor, Huangyan Electric Motor Factory. Driven by the tightening of energy efficiency requirements and the growing popularity of Industry 4.0 and intelligent manufacturing, the company focuses on high-efficiency, variable frequency and precision industrial motors, mainly permanent magnet synchronous motors (PMSM) and three-phase induction motors (3-PHIM).