Core Viewpoint - The company, 大洋电机, has submitted an application for listing on the Hong Kong Stock Exchange, aiming to expand its operations in the electric motor and drive control systems sector, where it holds significant market positions both domestically and internationally [1][2]. Group 1: Company Overview - 大洋电机 specializes in the design, manufacturing, and sales of electric motors and drive control systems, with products including motors for building and household appliances, starters, generators, and key components for new energy vehicle powertrains [1]. - The company ranks second globally among third-party HVAC electric drive solution providers based on projected sales revenue for 2024, and it holds the top position in China and North America [1]. - In the starter motor industry, the company ranks fourth globally and second among Chinese enterprises based on 2024 sales revenue [1]. - For new energy vehicle powertrain systems, the company ranks fifth among third-party suppliers in China based on 2024 sales revenue [1]. Group 2: Financial Performance - The company reported revenues of 10.93 billion RMB, 11.288 billion RMB, 12.113 billion RMB, and 6.241 billion RMB for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [2]. - Corresponding profits for the same periods were approximately 425 million RMB, 675 million RMB, 912 million RMB, and 640 million RMB [2]. Group 3: Global Presence and Market Strategy - As of June 30, 2025, the company operates 15 production bases globally, with six located overseas in the United States, the United Kingdom, Vietnam, Thailand, Mexico, and India [2]. - The company has achieved an overseas sales ratio of 46.0%, 44.5%, 45.1%, and 47.7% of total revenue over the past four years, with higher gross margins compared to domestic sales [2].

36氪获悉，大洋电机向港交所提交上市申请书，联席保荐人为华泰国际、花旗。 ...

据港交所文件：中山大洋电机股份有限公司向港交所提交上市申请书。 ...

Market Performance - The electric motor sector increased by 1.39% compared to the previous trading day, with Dayang Electric leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Key Stocks in Electric Motor Sector - Dayang Electric (002249) closed at 10.63, up 10.04%, with a trading volume of 238.37 thousand and a transaction value of 2.458 billion [1] - Kangping Technology (300907) closed at 39.49, up 3.38%, with a trading volume of 52.4 thousand and a transaction value of 207 million [1] - Zhaowei Electromechanical (003021) closed at 141.46, up 2.92%, with a trading volume of 92.9 thousand and a transaction value of 1.303 billion [1] - Other notable stocks include Wolong Electric Drive (600580) with a closing price of 51.80, up 1.57%, and a transaction value of 11.023 billion [1] Fund Flow Analysis - The electric motor sector experienced a net outflow of 93.3008 million from institutional investors, while retail investors saw a net inflow of 83.6059 million [2] - Dayang Electric had a net inflow of 45.4 million from institutional investors, but a net outflow of 21.6 million from speculative funds [3] - Kangping Technology had a net inflow of 12.6756 million from institutional investors, but a net outflow of 17.3432 million from retail investors [3]

Group 1 - Wanma Co., Ltd. and Dayang Electric both hit the daily limit up, indicating strong market performance [1] - Lihexing and Dema Technology saw increases of over 10%, reflecting positive investor sentiment [1] - Other companies such as World, Xiangxin Technology, and Fulian Precision also experienced significant gains, contributing to a bullish trend in the market [1]

Core Viewpoint - The A-share market showed mixed performance on September 22, with the Guozheng Free Cash Flow Index declining approximately 0.6%, while certain stocks like Dayang Electric reached their daily limit up [1] Market Performance - The three major A-share indices exhibited varied movements, with the Guozheng Free Cash Flow Index opening low and continuing to decline [1] - The largest free cash flow ETF (159201) followed the index's downward trend, with trading volume exceeding 1.5 billion yuan, indicating active trading [1] Market Outlook - According to招商证券, the financing trend typically shows a pattern of "contraction before the holiday and explosion after the holiday" around the National Day holiday [1] - Historically, the market tends to be relatively flat before the holiday, while risk appetite improves significantly afterward [1] - Following the Federal Reserve's interest rate cut in September, historical data suggests a higher probability of A/H shares rising in the future [1] - The current market is still in the second phase of a bull market, with three driving factors for the recent A-share uptrend remaining unchanged [1] Investment Products - The free cash flow ETF (159201) and its linked funds (A: 023917; C: 023918) closely track the Guozheng Free Cash Flow Index [1] - The funds select stocks with positive and high free cash flow after screening for liquidity, industry, and ROE stability, indicating high quality and strong risk resistance [1] - The annual management fee for the funds is 0.15%, and the custody fee is 0.05%, both at the lowest market rates, maximizing benefits for investors [1]

Group 1 - The core viewpoint of the news is the performance and market position of Dayang Electric, which saw a stock price increase of 5.07% to 10.15 CNY per share, with a total market capitalization of 24.791 billion CNY [1] - Dayang Electric, established on October 23, 2000, and listed on June 19, 2008, specializes in the production and sales of micro-special motors, electric drive systems for new energy vehicles, starters, generators, and magnetic materials [1] - The revenue composition of Dayang Electric includes: 60.99% from building and home electric motors, 26.56% from starters and generators, 11.62% from new energy vehicle powertrain systems, 0.80% from other sources, and 0.03% from car rentals [1] Group 2 - From the perspective of fund holdings, one fund under China International Capital Corporation (CICC) has a significant position in Dayang Electric, with 78,100 shares held, accounting for 0.71% of the fund's net value [2] - The CICC fund, named CICC CSI 1000 Index Enhanced Initiation A (017733), has achieved a year-to-date return of 30.95% and a one-year return of 69.27% [2] - The fund managers, Geng Shuaijun and Wang Yangfeng, have varying tenures and performance records, with Geng having a tenure of 4 years and 337 days and Wang having 3 years and 253 days [2]

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Zhong Shan Broad-Ocean Motor Co. Ltd. 中山大洋電機股份有限公司 (the "Company") (A joint stock company incorporated in the Peopl ...

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 Zhong Shan Broad-Ocean Motor Co. Ltd. 中山大洋電機股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」）的要求 而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣下 知悉、接納並向本公司、其保薦人、整體協調人、顧問或包銷團成員表示同意： 本公司招股章程根據香港法例第32章公司（清盤及雜項條文）條例送呈香港公司註冊處處長登記前，本公 司不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請 僅依據呈交香港公司註冊處註冊的本公司招股章程作出投資決定；有關文本將於發售期內向公眾刊發。 (a) 本文件僅為向香港公眾人士提供有關 ...

Market Overview - The electric motor sector experienced a significant decline of 6.36% on the previous trading day, with Wolong Electric Drive leading the drop [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Individual Stock Performance - Wolong Electric Drive (600580) saw a sharp decline of 10.01%, closing at 51.00, with a trading volume of 2.5158 million shares and a transaction value of 13.111 billion [2] - Other notable declines included: - Ocean Electric (002249) down 8.87% to 9.66, with a transaction value of 2.904 billion [2] - Jiangsu Yinli (300660) down 8.00% to 59.00, with a transaction value of 1.857 billion [2] - Fangzheng Electric (002196) down 7.69% to 9.73, with a transaction value of 731 million [2] Capital Flow Analysis - The electric motor sector saw a net outflow of 4.096 billion from institutional investors, while retail investors contributed a net inflow of 3.343 billion [2] - The table of capital flow indicates that: - Jiangnan Yifan (301023) had a net inflow of 14.2769 million from institutional investors, but a net outflow of 9.9613 million from retail investors [3] - Other stocks like Shenli Co. (603819) and Xiangdian Co. (600416) also experienced mixed capital flows, with significant retail inflows despite institutional outflows [3]