Zheng Quan Zhi Xing·2025-08-18 16:33Core Viewpoint - The report outlines the verification opinion of CITIC Securities regarding the listing and circulation of restricted shares from the initial public offering (IPO) of Guizhou Zhenhua Wind Power Semiconductor Co., Ltd. on the Sci-Tech Innovation Board, confirming compliance with relevant regulations and commitments made by shareholders [1][13]. Summary by Sections 1. Type of Restricted Shares - The restricted shares being listed for circulation are part of the company's IPO, with a total of 50,000,000 shares issued, resulting in a total share capital of 200,000,000 shares. Among these, 157,219,262 shares are restricted and 42,780,738 shares are unrestricted [1][2]. 2. Changes in Share Capital - Since the formation of the restricted shares, there have been no changes in the company's share capital due to profit distribution or capital reserve transfers [2]. 3. Commitments Related to Restricted Shares - Shareholders have made specific commitments regarding the circulation and reduction of shares post-IPO, including a six-month lock-up period that may extend if the closing price falls below the issue price [3][4]. - If any income is gained from not fulfilling these commitments, it must be returned to the issuer within five days [3][12]. 4. Verification of Shareholder Commitments - As of the date of the verification opinion, all shareholders have adhered to their commitments, and there are no issues affecting the listing of the restricted shares [12][13]. 5. Listing Details of Restricted Shares - A total of 86,082,358 restricted shares will be listed for circulation, representing 43.0412% of the company's total share capital. The circulation date is set for August 26, 2025, with a lock-up period of 36 months from the IPO date [13][15].