According to the Zhitong Finance APP, on October 30, the China Securities Regulatory Commission (CSRC) issued the "Supplementary Materials Requirements for Overseas Offering and Listing Filing (October 26, 2026 – October 30, 2026)." The International Department of the CSRC issued supplementary materials requirements for a total of five companies. Among them, Senda Electric was asked to provide additional explanations regarding the specific reasons for its repeated changes of listing boards, among other matters. According to a disclosure by the Hong Kong Stock Exchange on June 10, Fujian Senda Electric Co., Ltd. (referred to as "Senda Electric") submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with Fortune Securities International acting as its sole sponsor.
The company was asked to provide supplementary explanations on the following matters, with lawyers required to verify and issue clear legal opinions: First, regarding the repeated withdrawal of applications and frequent changes in listing paths, please explain the specific reasons, decision-making process, and basis for each change of listing board, and whether there are circumstances that would have a material impact on this offering and listing. Second, regarding the controlling shareholder and actual controller, Zhou Haizhu holds 80.00% of the shares. Please explain whether the company's governance and internal controls are sound and effective, whether effective checks and balances exist, and the relevant measures to protect minority shareholders' voting rights and rights to information. Third, please explain the internal decision-making process for dividends during the reporting period, the specific flow of dividend funds, and the performance of regulatory procedures such as tax payments. In light of the company's liabilities and other circumstances, please explain the reasonableness of implementing dividends and, given the dividends, the necessity of raising funds through this listing. Fourth, from 2024 to 2025, the company and four members of its management were issued warning letters by the Fujian Securities Regulatory Bureau and self-regulatory measures by the Beijing Stock Exchange due to failure to timely disclose related parties and related-party transactions, failure to truthfully disclose that the actual controller controlled other people's accounts, cross-period revenue recognition, and corporate governance deficiencies. Please explain the specific circumstances of the above violations, rectification measures, and completion status. Fifth, regarding the historical evolution of the company: (1) Zhou Haizhu became the controlling shareholder in 2018 through a private placement. Please explain whether Zhou Haizhu's capital contributions and share increase funds in each instance were all genuine self-owned or legally raised funds, whether the share ownership is clear, and whether there are undisclosed nominee holdings, concerted actions, or special interest arrangements. (2) Li Jianmin, who held 23.67% of the shares in the 2018 shareholder register, no longer appears in the 2023 shareholder register. Please explain the transfer of his shares, including the transfer time, transferee, and other specific details, and whether there are ownership disputes, nominee holdings, or other undisclosed arrangements. (3) The company's predecessor was established with capital contributions from Hong Kong Xieda Trading, and subsequently underwent multiple changes including the equity transfer of Hong Kong Huida Electric Appliances and the conversion from foreign-invested to domestic-invested status. Please explain whether each capital increase and equity transfer was legal and compliant, and the performance of foreign investment, foreign exchange registration, and tax payment procedures.
The prospectus shows that the company was established in 1995 and is a technology-driven provider of intelligent power distribution equipment and control systems, mainly serving the data center and power grid application sectors. With more than thirty years of deep industry expertise, the company has grown into a leading comprehensive provider of high and low voltage switchgear in China. The company's continuous technological innovation and extensive industry expertise are the foundation driving its growth.
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