WOLONG ELECTRIC(SH:600580) Xin Lang Zheng Quan·2025-09-29 08:17Core Viewpoint - Wolong Electric Drive's recent overseas listing may be inflated in performance due to accounting errors and "related self-sales" trade practices, raising concerns about the company's financial integrity and regulatory compliance [1]. Group 1: Regulatory Feedback - The China Securities Regulatory Commission (CSRC) has issued feedback regarding Wolong Electric Drive's overseas listing, questioning the inconsistency in the identification of the controlling shareholder and the criteria used for this determination [1]. - The CSRC has requested clarification on the specific circumstances of the controlling shareholder's pledged shares and their impact on the company's control and normal business operations, assessing compliance with regulations prohibiting certain entities from listing abroad [1]. - The CSRC has asked for a detailed list of the actual daily regulatory oversight by relevant authorities concerning the company's business and licensing, including the names of regulatory bodies, areas of supervision, business content, product names, and licensing status [1]. Group 2: Business Operations and Future Plans - The CSRC has inquired about the specific circumstances of the company's subsidiaries engaged in real estate development and sales, including whether they are actively conducting related business and their future business plans, as well as the necessary licensing obtained [1]. - The feedback also seeks to understand the foreign capital ratio after the issuance and listing, ensuring that the company and its subsidiaries continue to meet foreign investment policy requirements post-listing [1].