On December 19, the China Securities Regulatory Commission (CSRC) released the "Supplementary Material Requirements for Overseas Issuance and Listing (December 15–19, 2025)." The CSRC's international department disclosed supplementary material requests for seven companies, including Dajin Heavy Industry (002487.SZ), which was asked to provide further details on its overseas fundraising projects and the completion of foreign investment approval, verification, or filing procedures.
Dajin Heavy Industry submitted its application to the Hong Kong Stock Exchange on September 29, 2025, with Huatai International and China Merchants Securities International acting as joint sponsors. The CSRC requested Dajin Heavy Industry to supplement the following information, with legal verification and a clear legal opinion required:
1. Clarify the operational status of international container ship and general cargo transportation, waterway general cargo transportation, and photovoltaic equipment manufacturing and sales, including whether necessary permits have been obtained. 2. Confirm whether the company holds marine surveying qualifications and whether its business scope or that of its subsidiaries involves restricted or prohibited foreign investment sectors. 3. Provide details on the regulatory compliance of overseas investments and foreign exchange management for its foreign subsidiaries, along with conclusive opinions on compliance. 4. Elaborate on the specifics of its overseas fundraising projects and the completion of foreign investment approval, verification, or filing procedures.
According to its prospectus, Dajin Heavy Industry is a globally leading supplier of core offshore wind power equipment, specializing in the new energy sector for nearly two decades. It provides integrated "construction + transportation + delivery" solutions for offshore wind power foundations to major global developers. Frost & Sullivan data shows that, as of June 30, 2025, Dajin Heavy Industry was the only supplier in the Asia-Pacific region capable of batch-delivering monopiles to Europe.
The company’s clients primarily include top-tier offshore wind power developers and turbine manufacturers. In 2023, Dajin upgraded its "Two Seas Strategy" to the "New Two Seas Strategy." From 2022 to the first half of 2025, its overseas business expanded rapidly, with international revenue surging from 16.4% to 79.0% of total income, reflecting the successful execution of its strategy and strong customer recognition.
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