New Stock News | Gebro plans Hong Kong IPO. The China Securities Regulatory Commission requires supplementary explanations regarding the progress of the state-owned shareholder's compliance with state asset management procedures and other matters.

On September 4, the China Securities Regulatory Commission (CSRC) released the "Supplementary Material Requirements for Offshore Issuance and Listing Filing (August 31, 2026 - September 4, 2026)." The International Department of the CSRC provided supplementary material requirements for five enterprises. Among them, Gribo was required to clarify the progress of state-owned shareholders in fulfilling state-owned share identification and other state asset management procedures, as well as the progress of handling business registration changes for the employee stock ownership platform. According to the Hong Kong Stock Exchange's disclosure on June 7, Gribo Intelligent Power Technology Co., Ltd. submitted an application to list on the main board of the Hong Kong Stock Exchange, with CICC serving as its sole sponsor. The CSRC asked Gribo to supplement explanations on the following matters and to have lawyers verify and provide clear legal opinions: 1. Please supplement the explanation: (1) The pricing basis and history of your company's capital increases and equity transfers, whether there are any abnormal circumstances regarding the shareholding price, whether there is any transfer of interests, whether the capital contributions were paid in, and whether there are instances of unfulfilled capital obligations, withdrawal of capital, or defects in the method of contribution; (2) Whether there has been any shareholding on behalf of others in your company's historical development; (3) Provide conclusive opinions on the legality and compliance of your companys establishment and the changes in equity over time, as well as your company's qualification and effective existence status. 2. Please explain the pricing basis for the entry of new shareholders within 12 months prior to the submission of the offshore issuance and listing filing application, the reasons for and reasonableness of any price differences from those of concurrent capital increases, and provide clear conclusive opinions regarding the income tax payment situation of the transferors involved in the aforementioned equity transfer process and whether there is any transfer of interests. 3. Please explain the reasonableness of the company's assertion that there are no controlling shareholders or actual controllers in accordance with regulatory guidance, and provide specific evidence. 4. Please supplement the explanation of the progress of the national capital management procedures fulfilled by your companys state-owned shareholders regarding state-owned share identification, as well as the approval or internal decision-making processes related to the realization of "full circulation" of shares. 5. Please supplement the explanation of the progress of handling the business registration changes for the employee stock ownership platform, how the shares granted to employees who voluntarily relinquished their rights have been dealt with, whether there are reserved shares in the employee stock ownership plan, whether it is lawful and compliant, and whether there is any transfer of interests. 6. Please supplement the explanation of the relevant approval, authorization or filing procedures fulfilled for the fundraising projects of your company; for projects involving offshore fundraising, clarify the situation regarding the fulfillment of offshore investment approval, authorization or filing procedures. 7. Please supplement the explanation of whether the shares held by shareholders proposed to participate in the "full circulation" process are subject to any pledges, freezes, or other rights defects. The prospectus indicates that Gribo is a global provider of intelligent electrification power domain systems and universal 800V high-voltage direct current power supply systems. Core technologies include high-performance power electronics, motors, software, thermal management, and platform integration. By means of vertical integration and system optimization, Gribo achieves a competitive edge in integrated hardware and software services, primarily serving the new energy vehicle power domain during its track record and expanding into AI computing power infrastructure power supply systems and embodied intelligent power domain electric drive systems, committed to advancing the low-carbon and smart upgrade of the global energy transition economy. As of the last feasible date, the company has cumulatively secured 40 designated points from 10 OEMs directly or through first-level suppliers, and its solutions have been adopted in 16 commercial models from 12 automotive brands. As of the same date, 24 projects are in the customer engagement and solution design phase.