New Stock News: Zhongshan Broad-ocean Motor (002249.SZ) is planning to launch an IPO in Hong Kong. The China Securities Regulatory Commission requires an explanation of the progress of the approval process for the establishment of Zhongshan Broad-ocean Motor in Hong Kong.

On November 7th, the China Securities Regulatory Commission announced the disclosure of supplementary materials requirements for overseas issuance and listing filings (November 3, 2025 November 7, 2025). The CSRC requested Zhongshan Broad-ocean Motor to provide an explanation on the progress of handling the changes in the establishment of the Zhongshan Broad-ocean Motor Hong Kong development and reform registration procedures. According to the Hong Kong Stock Exchange disclosure on September 22nd, Zhongshan Broad-ocean Motor submitted its listing application to the Hong Kong Stock Exchange, with Citigroup and Huatai International as its joint sponsors. Zhongshan Broad-ocean Motor (002249.SZ) is already listed on the Shenzhen Stock Exchange. At the same time, the CSRC required Zhongshan Broad-ocean Motor to explain, based on the actual controlling shareholder's debt repayment ability, whether the pledge of shares by the controlling shareholder or actual controller before and after this issuance may lead to a change in the company's control rights, and whether it may result in situations prohibited by Article 8 of the Measures for the Administration of Issuance and Listing Overseas by Domestic Enterprises. In addition, in accordance with the Guidelines for the Application of Regulatory Rules-Overseas Issuance and Listing No. 2, the company is required to supplement information on its subsidiary companies and branch locations in the legal opinion statement. Currently, only the situation of key subsidiary companies and branch locations has been verified and explained. The expected amount of funds raised before and after the exercise of over-allotment rights, the specific calculation method, the specific uses of the raised funds, and the proportion of domestic and overseas uses should be explained. For projects involving overseas fundraising, the compliance with overseas investment approval, verification, or filing procedures should be clarified. The prospectus shows that Zhongshan Broad-ocean Motor is a supplier of electric motors and electric drive systems, with products covering motors for building and household electrical appliances, starters, generators, as well as powertrain systems and key components for new energy vehicles. During the historical period, the company mainly engaged in the design, manufacturing, and sales of electric motors and drive control systems, facilitating the realization of key functions in various industries. As of June 30, 2025, the company has 15 production bases globally, including six overseas bases in the United States, the United Kingdom, Vietnam, Thailand, Mexico, and India.