News on New Stocks | Shenzhen Inovance Technology (300124.SZ) plans to list on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires supplementary explanations regarding the business activities of the company's overseas subsidiaries, among other matters.

On August 14, the China Securities Regulatory Commission (CSRC) released the "Supplementary Material Requirements for Filing of Overseas Issuance and Listing (August 10, 2026 - August 14, 2026)." The International Department of the CSRC issued supplementary material requirements for eight companies. Among them, Shenzhen Inovance Technology was required to further explain the business activities of its overseas subsidiaries, the regulatory procedures related to overseas investments and foreign exchange registration involved in the establishment of these subsidiaries, and to provide conclusive opinions on matters of compliance, among other items. According to disclosures from the Hong Kong Stock Exchange on April 28, Shenzhen Inovance Technology Co., Ltd. (abbreviated as Shenzhen Inovance Technology (300124.SZ)) submitted a listing application to the main board of the Hong Kong Stock Exchange, with Morgan Stanley, CICC, GUOTAI JUNAN I, and Bank of America Securities as joint sponsors. The CSRC has requested Shenzhen Inovance Technology to provide further explanations on the following matters, and has asked lawyers to verify and issue clear legal opinions: 1. Please describe the business activities of your companys overseas subsidiaries, the specific compliance with the regulatory procedures related to overseas investments and foreign exchange registration involved in the establishment of these subsidiaries, and provide conclusive opinions on compliance. 2. Please detail the use of the funds raised by your company, whether it involves overseas investments, and whether the relevant approval, authorization, or filing procedures have been completed. If the relevant procedures have not been completed, please provide a commitment for the full return of the raised funds to the domestic market. The prospectus indicates that, according to Frost & Sullivan data, based on revenue in 2025, Shenzhen Inovance Technology is the leading Chinese manufacturer in the global industrial automation and digitalization sector, and ranks among the top three third-party suppliers of power systems for new energy vehicles worldwide. The company focuses on automation, digitalization, and intelligence in the industrial sector, forming an integrated layout across the "digital layer, edge layer, control layer, drive layer, execution layer, and sensing layer," covering products and solutions such as frequency converters, servo systems, control systems (PLC/HMI/CNC), high-performance motors, precision machinery, pneumatic components, sensors, industrial vision, and core elevator components, as well as an all-scenario intelligent industrial control software platform and an integrated digital platform for cloud, edge, and terminal.