The China Securities Regulatory Commission (CSRC) released a notice on May 15 regarding supplementary material requirements for overseas listing filings. In the notice, the CSRC requested that Guangzhou Great Power Energy And Technology Co.,Ltd. (300438.SZ) provide further clarification on the specific overseas projects for which the raised funds are intended. If applicable, the company is also required to detail the status of obtaining necessary overseas investment approvals, verifications, or filings.
Guangzhou Great Power Energy And Technology Co.,Ltd. had submitted its application for a main board listing on the Hong Kong Stock Exchange on January 30, with CITIC Securities acting as the sole sponsor.
The CSRC has asked the company to supplement information on the following matters and requested its legal counsel to verify and provide a clear legal opinion: 1. Provide additional details on the specific fulfillment of regulatory procedures, such as those related to overseas investment and foreign exchange management, concerning the company's overseas subsidiaries, and issue a conclusive opinion on compliance. 2. Considering factors such as debt repayment capacity, clarify whether the company's share pledge arrangements could potentially lead to a change in the controlling shareholder before and after the completion of this share issuance. 3. Elaborate on the specific overseas projects for which the raised funds are intended. If applicable, detail the status of obtaining necessary overseas investment approvals, verifications, or filings.
According to its prospectus, Guangzhou Great Power Energy And Technology Co.,Ltd. is a global battery manufacturer and integrated energy storage solutions provider, having established a global presence covering two core battery business segments: energy storage batteries, and consumer and power batteries. Data from Frost & Sullivan indicates that in 2024, the company ranked ninth globally in energy storage battery shipments, holding a 3.6% market share. The company has leveraged its battery manufacturing expertise to achieve a leading position in the portable energy storage and residential energy storage battery sectors, ranking first and third globally, respectively, by battery shipment volume in 2024. Its primary business encompasses the research and development, production, and sales of high-performance batteries and integrated energy storage solutions, with a comprehensive product portfolio that includes secondary rechargeable batteries and primary batteries.
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