New stock news | LanTu Auto plans to IPO in Hong Kong. The China Securities Regulatory Commission requires explanation of the situation of fulfilling overseas investment approval, approval, or filing procedures.

On November 21st, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing disclosure (from November 17th, 2025 to November 21st, 2025). The commission requested that Lantu Automotive provide supplementary explanations on the compliance with state-owned asset management procedures in this transaction and the compliance with overseas investment approval, review, or filing procedures. According to the disclosure made by the Hong Kong Stock Exchange on October 2nd, Lantu Automotive has submitted an application for listing, with CICC as its exclusive sponsor. According to the prospectus, Lantu Automotive is a high-end intelligent new energy brand under Dongfeng Corporation. Furthermore, the commission requested additional explanations regarding (1) the historical evolution and main business of DONGFENG GROUP, as well as the decision-making process for this transaction; (2) whether shareholders of DONGFENG GROUP, aside from holding company shares, have the right to choose cash, whether cash payments are involved, and if so, please explain the source of funds. The assets contributed by shareholders at the company's establishment; compliance with state asset management procedures during previous changes in company ownership; and issuing conclusive opinions on the legality and compliance of previous changes in company ownership. Additionally, supplementary explanations are required on the development and operation of websites, apps, mini-programs, and other products, the scale of user information collection and storage, data collection and usage practices, whether personal user information is shared with third parties, and arrangements or measures for personal information protection and data security before and after listing. According to the prospectus, Lantu Automotive's target audience is positioned as the backbone of the new era, with products mainly covering the price range from 200,000 to 500,000 RMB. Lantu Automotive began delivering its first model, Lantu FREE, in August 2021, with the 100,000th vehicle produced in April 2024 and the 200,000th in April 2025. Based on insights from Z03 Consulting, Lantu Automotive's sales volume had a compound annual growth rate of 103.2% from 2022 to 2024, making it the third-fastest-growing high-end new energy automotive brand in China.