
Company Overview - Beijing Haochuang Ruitong Electric Equipment Co., Ltd. has received approval for its initial public offering (IPO) and listing on the ChiNext board from the Shenzhen Stock Exchange and the China Securities Regulatory Commission [1][2] - The company plans to issue 27,900,000 shares, representing 25.36% of the total shares post-issue, with a par value of RMB 1.00 per share [20] Issuance Process - The issuance will combine strategic placements, offline inquiries, and online offerings to public investors holding non-restricted A-shares and depository receipts [20] - The offline subscription period is set for September 4, 2025, from 9:30 AM to 3:00 PM, while the online subscription will occur on September 11, 2025, from 9:15 AM to 11:30 AM and 1:00 PM to 3:00 PM [2][16] Investor Requirements - Offline investors must have a minimum average market value of RMB 10 million in non-restricted A-shares over the 20 trading days prior to the base date of September 3, 2025 [15] - Online investors must hold at least RMB 10,000 in non-restricted A-shares to participate in the online subscription [16] Pricing and Allocation - The pricing mechanism involves a preliminary inquiry where offline investors submit their pricing basis and suggested price ranges before participating in the inquiry [5][8] - The final issuance price will be determined based on the median and weighted average of valid bids after excluding the highest bids [12][13] Lock-up Period - For strategic placement investors, 90% of the allocated shares will have no lock-up period, while 10% will be subject to a 6-month lock-up period starting from the listing date [14] - Other strategic placement investors will face a 12-month lock-up period for their allocated shares [14] Compliance and Reporting - The underwriting process will be overseen by Jiangsu Huashang Law Firm to ensure compliance with regulations throughout the issuance and underwriting phases [12] - Investors must submit a commitment letter and relevant verification materials through the designated platform to participate in the offline issuance [14]