New Stock News | Dongheng New Energy plans to IPO in Hong Kong. The China Securities Regulatory Commission requires clarification on whether there have been instances of shareholding on behalf of others in its historical evolution.

On August 7, the China Securities Regulatory Commission (CSRC) released the "Supplementary Material Requirements for Filing of Overseas Issuance and Listing (July 27, 2026 - August 7, 2026)." The International Department of the CSRC provided supplementary material requirements for three enterprises. Among them, Dongheng New Energy was asked to clarify whether there are instances of shareholding agency in its historical development. It is reported that Wuxi Dongheng New Energy Technology Co., Ltd. (abbreviated as Dongheng New Energy) submitted its listing application to the Hong Kong Stock Exchange's main board on June 23, 2026, with China International Capital Corporation (CICC) and Dongxing (Hong Kong) as its joint sponsors. The CSRC requests the company to supplement its explanation on the following matters, which lawyers should verify and provide clear legal opinions on: 1. Please provide additional clarification: (1) whether the share purchase prices of new shareholders within 12 months prior to the submission of the overseas issuance and listing filing application are fair and reasonable, and to provide a conclusive opinion on whether there are instances of interest transfer; (2) regarding the company's historical cases of zero transfer of equity, please explain whether the transaction price is fair and reasonable, and verify the authenticity of the transaction; (3) whether there are instances of shareholding agency in the company's historical development. 2. Please clarify whether the shares to be held by shareholders participating in this "full circulation" have any circumstances of being pledged, frozen, or other rights defects. 3. The company and its subsidiaries hold registration qualifications for fixed pollution source discharge. Please clarify whether the established, under-construction, or planned projects fall into the categories of "high energy consumption" and "high emissions." The prospectus shows that Dongheng New Energy is a leading technology company for new energy conductive carbon materials in mainland China, driven by innovation and customer demand, continuously promoting sustainable development through its core competitive advantages, aiming to become a globally leading technology company in new energy conductive carbon materials. The companys core business is research and development, production, and sales of high-performance conductive carbon materials, focusing on their applications in new energy battery fields. It has a comprehensive product line of conductive carbon materials, covering conductive carbon black, carbon nanotubes, and graphene. According to Frost & Sullivan's data, the company's core products, conductive carbon black and carbon nanotubes, rank among the industry's leaders in revenue scale in both the Chinese mainland and global markets. In terms of revenue for 2025, the company ranks as the second-largest carbon nanotube supplier and the fourth-largest conductive carbon black supplier among all manufacturers globally, and it is the second-largest carbon nanotube supplier and the largest conductive carbon black supplier among Chinese manufacturers globally.