IPO News | Huichuan Technology (300124.SZ) Proposes Hong Kong Stock Listing, China Securities Regulatory Commission Requests Additional Explanation on the Business Details of the Company's Overseas Subsidiaries

Zhitong Finance App learned that on August 14, the China Securities Regulatory Commission issued the “Requirements for Supplementary Materials for Overseas Issuance and Listing Filing (August 10, 2026 - August 14, 2026)”. The International Division of the China Securities Regulatory Commission issued supplementary material requirements for a total of 8 companies. Among them, Huichuan Technology is required to provide additional information on the business content of the company's overseas subsidiaries, the specific implementation of overseas investment, foreign exchange registration and other supervisory procedures involving the establishment of overseas subsidiaries, and issue concluding opinions on compliance. According to the Hong Kong Stock Exchange's disclosure on April 28, Shenzhen Huichuan Technology Co., Ltd. (abbreviation: Huichuan Technology (300124.SZ)) submitted a listing application to the main board of the Hong Kong Stock Exchange, with Morgan Stanley, CICC, Cathay Pacific Junan International, and Bank of America Securities as co-sponsors.

The China Securities Regulatory Commission requested Huichuan Technology to further explain the following matters, and ask lawyers to check and issue clear legal opinions:

1. Please explain the business content of your company's overseas subsidiaries, the specific implementation of overseas investment, foreign exchange registration and other supervisory procedures involving the establishment of overseas subsidiaries, and issue concluding opinions on compliance.

2. Please explain in detail the use of capital raised by your company, whether it involves overseas investment, and whether it has completed the relevant approval, approval or filing procedures. If the relevant procedures have not been completed, please issue a commitment to return all funds raised to the country.

According to the prospectus, according to Frost & Sullivan data, according to 2025 revenue, Huichuan Technology is the world's number one Chinese manufacturer in the field of industrial automation and digitalization, and is ranked in the top three global third-party suppliers of NEV power systems. The company focuses on automation, digitalization, and intelligence in the industrial field, forming a penetrating layout in the “digital layer, edge layer, control layer, driving layer, execution layer and sensing layer”, covering products and solutions such as inverters, servo systems, control systems (PLC/HMI/CNC), high-performance motors, precision machinery, pneumatic components, sensors, industrial vision, elevator core components, etc., as well as a full-scene intelligent industrial control software platform and a cloud-side integrated digital platform.