
Core Viewpoint - Suzhou Huichuan United Power System Co., Ltd. has received approval for its initial public offering (IPO) and listing on the ChiNext board, with the underwriting managed by Guotai Junan Securities Co., Ltd. [1] Group 1: IPO Details - The IPO application has been approved by the Shenzhen Stock Exchange and registered by the China Securities Regulatory Commission [1] - The IPO will take place on September 15, 2025, with both offline and online subscription periods [2][17] - Investors do not need to pay subscription funds on the day of the IPO [17] Group 2: Subscription Process - Offline subscription will occur from 9:30 AM to 3:00 PM, while online subscription will be from 9:15 AM to 11:30 AM and 1:00 PM to 3:00 PM on the same day [2][17] - Investors must submit verification materials by September 9, 2025, to participate in the offline subscription [8] - The issuance will combine strategic placement, offline inquiry placement, and online issuance [2][3] Group 3: Investor Requirements - Offline investors must be registered securities companies, fund management companies, and other qualified institutional investors [5] - Minimum subscription amounts and asset requirements are set for both offline and online investors [15][16] - Investors must ensure their subscription amounts do not exceed their reported total assets [9][10] Group 4: Pricing and Allocation - The initial inquiry period for pricing is set for September 10, 2025 [6] - The pricing will be determined based on the inquiry results, with a mechanism to exclude invalid quotes [11][12] - The final issuance price will be disclosed in the issuance announcement [4] Group 5: Lock-up Period and Trading - For offline investors, 30% of the allocated shares will have a lock-up period of six months, while 70% will be tradable immediately [13][14] - Online investors will have no restrictions on the shares they acquire [13] Group 6: Risk Management - The underwriting process will be monitored by legal counsel to ensure compliance with regulations [12] - Investors are advised to understand the risks associated with investing in the ChiNext board, which includes high volatility and potential for loss [21]