JINLONG MOTOR (873936): CSRC Requests Supplementary Explanations on Capital Increase Pricing, Property Rights Reform and Share Encumbrances in Full Circulation

NewTimeSpace News: On 21 August 2026, the International Department of the China Securities Regulatory Commission (CSRC) released its Supplementary Filing Requirements for Overseas Listings (17 August to 21 August 2026), requesting Zhejiang Jinlong Electrical Machinery Stock Co., Ltd. to provide supplementary explanations on specified matters regarding its filing for the H share listing, with clear legal opinions to be issued by lawyers after verification.

The CSRC asked the Company to clarify the pricing and pricing basis of each historical capital increase and share transfer, whether there were abnormal subscription prices or benefit transfers, whether capital contributions were fully paid up, and whether there were failures to fulfil capital contribution obligations, withdrawal of capital or defects in the form of capital contribution. It also requested an analysis of the Company's nature before its property rights reform under the laws and regulations then in force, whether the reform was approved by competent authorities with sufficient legal basis and lawful procedures, and whether state-owned or collective assets were lost, as well as a concluding opinion on the legality and compliance of the Company's establishment and historical equity changes and its valid existence as a legal entity.

The CSRC further requested the Company and its subsidiaries to clarify whether their businesses involve restricted or prohibited foreign investment areas, whether the Company continuously complies with foreign investment access requirements before and after the proposed listing and the full circulation of H shares, and whether shares held by shareholders participating in the full circulation are subject to pledges, freezes or other defects in title.

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