DAQIN ENERGY STORAGE: CSRC seeks supplementary filing materials on pricing, holdings

NewTimeSpace News: On 18 September 2026, the International Department of the CSRC issued supplementary material requirements for Daqin Energy Storage's overseas issuance and listing filing, covering six items.

Regarding new shareholders, the CSRC requires an explanation of the reasonableness of the subscription prices of shareholders added in the last 12 months and the reasons for differences between them, together with a definitive conclusion on whether such prices are fair and reasonable and whether there is any transfer of benefits. Regarding the employee shareholding platform, the Company is required to explain the reasons for and reasonableness of the significant differences in equity incentive grant prices among Yuanjian Daotong, Nanzhang Zichou and Suzhou Qinhuoban, as well as the composition and positions of equity incentive participants and their relationships with other shareholders and directors, supervisors and senior management. Regarding the historical shareholding entrustment of the controlling shareholder, the Company is required to set out in tabular form the names of the parties, the entrusted equity percentages, the start and end dates and the method of termination, and to explain, in light of the above, whether the controlling shareholder's equity is subject to any material ownership dispute.

In addition, the CSRC requires explanations of the pricing basis of the fourth equity transfer in April 2022 and the reasons for the difference from the capital increase pricing in the same period, the income tax paid by the transferors, the Company's cross-border business and whether the necessary qualifications and permits have been obtained, the performance of regulatory procedures for outbound investment and foreign exchange management, and whether the shares to be involved in the "full circulation" are subject to pledge, freezing or other defects in title. All such matters require verification by counsel and a definitive legal opinion.

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