New Stock News | Zhengli New Energy Plans to List on the Stock Exchange. China Securities Regulatory Commission Requires Supplementary Explanation on July's Capital Increase Completion Situation and Other Matters.

On September 13, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing filing (from September 6, 2024 to September 12, 2024) to be made public, which included the requirement for Heli New Energy to provide further explanations on the completion of the capital increase in July and the company's latest equity structure. According to the Hong Kong Stock Exchange disclosure on July 26, Jiangsu Heli New Energy Battery Technology Co., Ltd. submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and CMB International as its joint sponsors. Specifically, the CSRC public announcement stated that Heli New Energy should provide supplementary explanations on the following matters, and the lawyers should verify and provide clear legal opinions: 1. Please list the changes in equity since June 2020, including pricing basis and fairness. 2. Please explain the completion of the capital increase in July 2024, the latest equity structure of the company, and have the lawyers verify the new shareholders. 3. Please explain the reasons and background for external personnel to participate in the employee shareholding platform, the share acquisition price, valuation basis, source of funds, whether there are subjects prohibited from holding shares by laws and regulations, whether there are benefits transfer and disputes; lawyers should provide a clear conclusion on the legality and compliance of the employee share ownership plan. 4. Please explain the progress of identifying state-owned shareholders, and have the lawyers provide a clear conclusion on whether the issuance and listing have been lawfully conducted in accordance with relevant state-owned asset management approval, filing, or approval procedures. 5. Please explain whether there are any disputed situations such as pledge, freeze, or other disputes in the shares held by the shareholders planning to participate in the "full circulation". According to the prospectus, Heli New Energy is a leading power and energy storage battery manufacturer in China, providing integrated solutions for cells, modules, battery packs, battery clusters, and battery management systems. It is committed to expanding the large-scale application of electrochemical products in the land, sea, and air interconnected full scenario (LISA). Data shows that as of the three months ending March 31, 2023 to the three months ending March 31, 2024, Heli New Energy ranked 2nd in the installation volume among the top ten companies in the power battery market in terms of year-on-year growth rate as of March 31, 2024, ranked 1st in the installation volume among the top ten companies in the lithium iron phosphate power battery market, and ranked 2nd in the installation volume among the top ten companies in the ternary power battery market.