New stock news | Haiwei Electronics plans for a Hong Kong IPO. The China Securities Regulatory Commission requires it to provide additional information on the development of its technology export business in the past three years.

On April 11, the China Securities Regulatory Commission issued the "Requirements for Supplementary Materials for Overseas Issuance and Listing Disclosure (April 3, 2025 - April 10, 2025)," and the International Department of the CSRC issued supplementary material requirements for 7 companies. The disclosure mentioned that Haiwei Electronics was required to supplement information on the operation and compliance of its technology export business in the past three years. According to the Hong Kong Stock Exchange disclosure on February 26, Haiwei Electronics submitted an application to the Hong Kong Stock Exchange Main Board, with CICC as the sole sponsor. The CSRC requested the company to provide clarification on the following matters, and requested lawyers to verify and provide clear legal opinions: 1. Both the company and its subsidiaries are engaged in technology export business, please provide information on the operation and compliance of the technology export business in the past three years. 2. Please provide clarification on the reasonableness of the prices at which new shareholders have invested in the past 12 months, and whether there are any differences in these investment prices that may indicate a transfer of interests. 3. Please provide information on whether the shares held by shareholders participating in this application for "full circulation" are subject to pledge, freeze, or other defects in rights. According to the prospectus, based on the data from Zhoushi Consultancy, Haiwei Electronics is the largest manufacturer of capacitor film in China based on sales of capacitor base film in 2023. The company's capacitor film products mainly include (i) capacitor base film and (ii) metallized film. These products are crucial components of film capacitors, which are known for their excellent voltage resistance, high-frequency stability, and long service life. Film capacitors are widely used in various applications, including (i) new energy vehicles, (ii) new energy power systems, (iii) industrial equipment, and (iv) household appliances.