New Stock News | POCO Holding (300811.SZ) plans Hong Kong IPO; CSRC requires supplementary explanation on whether the company and its subsidiaries actually carry out property management-related businesses and other matters.

On September 30, the China Securities Regulatory Commission (CSRC) issued the "Supplementary Material Requirements for Overseas Offering and Listing Filing (September 20, 2026 September 30, 2026)." The International Department of the CSRC issued supplementary material requirements for a total of 5 companies. Among them, POCO Holding (300811.SZ) was required to provide supplementary explanation on whether the company and its subsidiaries actually carry out property management-related businesses, whether there are "high energy consumption" and "high emission" projects, and other matters. According to disclosure by the Hong Kong Stock Exchange on July 8, Shenzhen POCO Holding Co., Ltd. submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with CITIC SEC as its sole sponsor. The CSRC requested POCO Holding to provide supplementary explanation on the following matters, and requested lawyers to verify and issue clear legal opinions: 1. The business scope of your company and its subsidiaries involves property management. Please explain whether relevant businesses are actually carried out. If relevant businesses are carried out, please explain the business model, revenue scale and proportion, etc. 2. Your company and its subsidiaries hold a "Pollutant Discharge Permit" and there are circumstances of fixed pollution source discharge registration. Please explain whether the industry to which they belong is a "high energy consumption" or "high emission" industry, whether there are "high energy consumption" or "high emission" projects, and provide relevant basis. 3. Huizhou BoKe received an administrative penalty due to a production safety accident. Please supplement with the determination opinion of the municipal emergency management department, explaining whether it constitutes a major production safety accident and whether it constitutes a major violation of laws and regulations. 4. Please explain the performance of regulatory procedures such as overseas investment and foreign exchange registration involved in your company's establishment of overseas subsidiaries. Lawyers shall verify and issue a conclusive opinion on compliance. 5. Please further explain the necessity and reasonableness of this Hong Kong listing in light of the use of proceeds. The prospectus shows that POCO Holding is a globally leading provider of alloy soft magnetic powder products. During the track record period, POCO Holding's product portfolio mainly included (i) alloy soft magnetic powder cores, (ii) AI chip inductors, and (iii) alloy soft magnetic powders. According to information from China Insights Consultancy, POCO Holding is one of the few companies in the world with vertically integrated capabilities covering alloy soft magnetic powders, alloy soft magnetic powder cores, and AI chip inductors. Based on 2025 revenue, POCO Holding (i) ranked first in the global alloy soft magnetic powder core market with a market share of 27.1%, and (ii) ranked fifth in the global AI chip inductor market with a market share of 7.6%. POCO Holding's products have entered the supply chains of globally leading AI chip companies and cloud service providers.