Venture(US:VEMLY) Shang Hai Zheng Quan Bao·2025-09-04 18:33Core Viewpoint - The company, Suzhou Huichuan United Power System Co., Ltd., is preparing for its initial public offering (IPO) and listing on the ChiNext board, following the regulations set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange [1]. Group 1: IPO Process - The IPO will be organized by the lead underwriter, Guotai Junan Securities Co., Ltd., and will involve a combination of strategic placement, offline inquiry, and online issuance [2][3]. - The strategic placement will include participation from the underwriter's subsidiaries, senior management, and core employees, along with other investors [3]. - The total number of shares allocated to strategic investors, subscription amounts, and holding periods will be disclosed in the IPO announcement [4]. Group 2: Offline Inquiry and Issuance - The offline issuance targets professional institutional investors registered with the China Securities Association, including securities companies, fund management companies, and qualified foreign investors [5]. - The initial inquiry period is set for September 10, 2025, during which eligible investors can submit their proposed prices and quantities through the Shenzhen Stock Exchange's electronic platform [6]. - Each participating investor can submit up to three different quotes, with the highest quote not exceeding 120% of the lowest quote [6]. Group 3: Regulatory Compliance - Investors must ensure their proposed subscription amounts do not exceed their asset scale, as determined by the lower of their total assets on August 31, 2025, or their total assets before the inquiry [7][10]. - The underwriter reserves the right to reject or exclude any bids that exceed the asset scale requirements [7]. - Investors are required to submit asset scale reports and comply with internal approval processes before participating in the inquiry [8][9].