New Stock News | Bethel Automotive Safety Systems plans Hong Kong IPO; CSRC requires supplementary explanation of all pending litigation and arbitration details involved

On September 18, the China Securities Regulatory Commission (CSRC) issued the "Supplementary Materials Requirements for Overseas Offering and Listing Filing (September 14, 2026 September 18, 2026)." The International Department of the CSRC issued supplementary materials requirements for a total of 6 companies. Among them, Bethel Automotive Safety Systems was required to supplementally explain all pending litigation and arbitration details involving the company, among other matters. It is reported that Bethel Automotive Safety Systems submitted its listing application to the Main Board of the Hong Kong Stock Exchange on May 21, 2026, with CICC as the sole sponsor. The CSRC requested the company to supplementally explain the following matters, and requested lawyers to verify and issue clear legal opinions: 1. Please supplementally explain the specific performance of regulatory procedures such as overseas investment and foreign exchange management involved in the company's establishment of overseas subsidiaries, and issue conclusive opinions on compliance. 2. Please list item by item the specific amounts and proportions of the proceeds from this offering to be used for domestic and overseas investment projects, and explain the performance of relevant approval, authorization, or filing procedures. If relevant procedures are still being performed, please issue a commitment that all proceeds will be repatriated to the domestic territory. 3. Please supplementally explain all pending litigation and arbitration details involving the company, whether such circumstances will have a material adverse impact on the company's future operations, whether they will constitute a substantive obstacle to this offering, and whether such circumstances have been fully disclosed. 4. Please supplementally explain the specific circumstances of transactions with CHERY AUTO and others during the reporting period, the fairness of the pricing of relevant related-party transactions, and issue a clear conclusive opinion on whether there is any tunneling of benefits. 5. Please, in light of solvency and other circumstances, supplementally explain whether equity pledges, loan guarantees, and other circumstances before and after the completion of this offering may lead to major ownership disputes or cause a change in the issuer's controlling shareholder. The prospectus shows that Bethel Automotive Safety Systems is a leading Chinese supplier of automotive intelligent chassis systems. According to Frost & Sullivan, in 2025, the company ranked first among Chinese-brand suppliers in both the China electronic parking brake system and brake-by-wire system markets, with market shares of 14.2% and 8.6% by revenue, respectively. Since its establishment in 2004, Bethel Automotive Safety Systems has focused on the research and development, manufacturing, and provision of automotive intelligent chassis systems, building full-stack in-house core technology capabilities covering automotive braking systems (X-axis), steering systems (Y-axis), suspension systems (Z-axis), and intelligent driving systems, with end-to-end capabilities from independent research and development and matching validation to large-scale production. According to Frost & Sullivan, the company is one of the few Chinese-brand suppliers capable of providing full XYZ-axis chassis solutions and achieving system-level integration, and is also among the first batch of Chinese-brand suppliers to achieve large-scale production and platform-based layout of core automotive intelligent chassis technologies.