New stock news | Qingtao Energy plans to list in Hong Kong IPO, the China Securities Regulatory Commission requires supplementary explanations on the compliance of employee stock incentive implementation, etc.

On June 5th, the China Securities Regulatory Commission issued the "Supplementary Materials Requirement for Overseas Issuance and Listing (June 1, 2026 - June 5, 2026)." The International Department of the China Securities Regulatory Commission issued supplementary material requirements to 10 companies. Among them, Qingtao Energy was required to provide additional clarification on whether the implementation of employee stock incentives is legal and compliant. According to the disclosure by the Hong Kong Stock Exchange on April 8th, Qingtao Energy submitted its listing application to the main board of the Hong Kong Stock Exchange, with Guotai Junan Finance Limited, China International Finance Hong Kong Securities Limited, and CMSC (Hong Kong) Limited as its joint sponsors. The China Securities Regulatory Commission requested Qingtao Energy to provide clarification on the following matters, and to have a lawyer verify and provide clear legal opinions: 1. Please explain: (1) whether the prices of new shareholders entering the company in the past 12 months are fair and reasonable, and if there is any conclusive opinion on benefit transfers; (2) whether the implementation of employee stock incentives is legal and compliant, and if there is any conclusive opinion on benefit transfers; (3) the impact of special shareholder rights arrangements on control rights, and whether there have been any changes in control rights before and after listing; (4) further explanation according to the "Regulatory Rules Application Guidelines - Overseas Issuance and Listing No.2" requirements on the identification basis of controlling shareholders and actual controllers; (5) the situation of existing and historical nominee holding of shares in your company. 2. Please explain: (1) the situation of state-owned shareholder identification by your company; (2) the registration of your company as a customs consignee and consignor, further explaining the involvement of your company in cross-border operations and whether necessary qualifications and permits have been obtained; (3) the holding of radiation safety permits and pollution emission permits by your company, whether the company's business falls into the categories of "high energy consumption" and "high emissions," and providing relevant evidence; (4) the situation of business qualification permits obtained by the main domestic operating entities of your company; (5) the specifics of pending litigations involving your company, whether they may have significant adverse effects on your company's future operations, whether they may pose substantial obstacles to this issuance, and whether the relevant pending litigations have been fully disclosed. 3. Please explain: whether the shares held by shareholders participating in the "full circulation" in this offering have any defects such as being pledged, frozen, or encumbered. The prospectus shows that Qingtao Energy is a leader in the industrialization and commercialization of solid-state batteries, possessing advanced solid-state battery technology and strong research and development capabilities for solid-state battery products. The company is focused on the research and development, manufacturing, and sales of solid-liquid hybrid batteries and solid-state batteries used in electric vehicles and energy storage systems. Qingtao Energy's innovative capabilities are built on a full-stack R&D team covering materials, electrochemistry, electrical engineering, advanced manufacturing, and software development. According to data from Frost & Sullivan, the company is one of the enterprises in the industry with the most extensive patent portfolio in solid-state battery technology. The company has already commercialized its technological capabilities in the power and energy storage system markets.