New Stock News | JA Solar Technology (002459.SZ) plans to have an IPO in Hong Kong. The China Securities Regulatory Commission requires supplemental explanations for the pending litigation and other matters involving the company and its subsidiaries.

On June 6, the China Securities Regulatory Commission (CSRC) announced the requirements for supplementary materials for overseas issuance and listing filing (from May 30, 2025 to June 5, 2025). It mentioned the requirement for JA Solar Technology (002459.SZ) to provide supplementary explanations on unresolved litigation and other matters concerning the company and its subsidiaries. According to the disclosure by the Hong Kong Stock Exchange on April 28, JA Solar Technology has submitted a listing application to the Hong Kong Stock Exchange main board, with CITIC SEC and CICC as joint sponsors. Specifically, the CSRC public notice stated that JA Solar Technology needs to provide supplementary explanations on the following matters, and have lawyers verify and provide clear legal opinions: 1. Please explain the specific circumstances of administrative penalties related to safety production imposed on your company's subsidiaries, whether the related safety production accidents constitute serious violations, the progress of fines payment, whether necessary and effective rectification measures have been taken, whether there are other production safety liability accidents and their specific circumstances, and whether they constitute situations restricting financing as stipulated in the "Notice of the State Council on Further Strengthening the Work of Enterprise Safety Production" or other conditions that cannot be listed. 2. If your company and its subsidiaries have unresolved litigation, please explain the progress of the related cases and whether they constitute substantial obstacles to the listing process. It is understood that JA Solar Technology's main business includes research and development, production, and sales of photovoltaic silicon wafers, cells, modules, and energy storage systems by CECEP Solar Energy, as well as the development, construction, and operation of photovoltaic power plants, and the research, production, and sales of photovoltaic materials and equipment. The prospectus shows that according to Frost & Sullivan, the company ranked third globally in terms of photovoltaic module shipments in 2024, with a market share of 12.3%, and has been in the top four globally in terms of photovoltaic module shipments for the past 10 years since 2015. As of December 31, 2024, the company's products cover 178 countries and regions globally, and has established 16 overseas sales companies, including seven regional operating centers worldwide, with over half of the company's sales revenue coming from overseas markets during the historical period.