Core Points - Jiangxi Aifenda HVAC Technology Co., Ltd. has revised certain provisions of its Articles of Association to enhance corporate governance and protect the rights of stakeholders [1][2] - The revisions include clarifications on the establishment, registration, and operational procedures of the company, as well as detailed regulations on share issuance, types, and repurchase [1][2] - Significant adjustments were made to the sections regarding shareholders and shareholder meetings, including the rights and obligations of shareholders and the decision-making processes [1][2] Group 1 - The purpose of the revision is to incorporate the protection of employee rights into the Articles of Association [1] - The company has optimized expressions related to its establishment and registration [1] - Specific conditions and pricing for issuing the same category of shares have been clarified [1][2] Group 2 - The board of directors and senior management sections have been revised to include qualifications, responsibilities, and election processes for directors [2] - New rules have been established for the operation of the board's specialized committees [2] - Adjustments have been made to the supervisory board, financial accounting systems, and internal auditing processes [2]

Group 1 - The company Aifenda (SZ 301575) announced on September 21 that its 11th meeting of the 4th board of directors was held via communication on September 19, 2025, to review proposals regarding changes to the company's registered capital, type, and amendments to the articles of association [1] - For the fiscal year 2024, Aifenda's revenue composition is as follows: towel racks (sprayed) accounted for 41.27%, electroplated towel racks for 15.1%, temperature control valves for 12.2%, heating valves for 11.27%, other components for 10.2%, and other HVAC products for 5.82% [1] - As of the report date, Aifenda's market capitalization stands at 4.9 billion yuan [1]

Core Points - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21.67 million shares on the ChiNext board, with a determined price of RMB 27.69 per share [1][2] - The IPO will utilize a combination of strategic placement, offline issuance, and online issuance methods [1] - The initial strategic placement was set at 4.33 million shares, accounting for 20% of the total issuance, with final strategic placement adjusted to 4.26 million shares, or 19.67% of the total [3][6] Strategic Placement - The strategic placement includes participation from senior management and core employees, with 2.09 million shares allocated to a special asset management plan and 2.17 million shares to other investors [3][6] - The difference of 72,536 shares from the initial to final strategic placement was reallocated to offline issuance [3] Issuance Mechanism - The issuance price is capped at the lower of the median and weighted average of offline investor quotes, excluding the highest bid [2] - A mechanism for reallocating shares from offline to online issuance was activated due to a high subscription rate of 10,974.57 times, leading to an increase in online shares by 348,200 shares [4] Subscription Results - The final subscription results showed that offline investors received 872.60 million shares, while online investors received 868.25 million shares after the reallocation [4] - The online issuance had a winning rate of 0.0152% and an effective subscription multiple of 6,573.37 times [4] Underwriting and Fees - The lead underwriter, Zheshang Securities, will underwrite all shares that online investors chose not to subscribe, totaling 56,097 shares [8] - The total underwriting amount for these shares was RMB 1,553,325.93 [8] - Issuance fees do not include VAT and are subject to minor rounding differences [9]

Core Points - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21.67 million shares on the ChiNext board, with a determined price of RMB 27.69 per share [1][2] - The IPO will utilize a combination of strategic placement, offline issuance, and online issuance methods to distribute shares [1] - The initial strategic placement was set at 4.33 million shares, accounting for 20% of the total issuance, with final strategic placement adjusted to 4.26 million shares, or 19.67% of the total [3][6] Strategic Placement - The strategic placement includes participation from senior management and core employees, with their portion amounting to approximately 9.67% of the total issuance [3][6] - The remaining strategic placement shares were allocated to other investors, totaling 10% of the issuance [3][6] - A total of 7.25 million shares were reallocated from the initial strategic placement to the offline issuance due to adjustments [3] Issuance Mechanism - The issuance price is determined based on the median and weighted average of bids from qualified investors, excluding the highest bid [2] - The final allocation saw a significant interest from online investors, with a subscription multiple of 10,974.57, prompting a reallocation of shares from offline to online [4] - After the reallocation, the final distribution was 872.60 million shares for offline investors and 868.25 million shares for online investors [4] Subscription and Payment - The subscription and payment process for the new shares concluded on September 3, 2025, with detailed statistics on the participation from strategic, online, and offline investors [5] - Online investors subscribed for 8,626,403 shares, while offline investors subscribed for 8,726,036 shares, with no shares being declined by offline investors [8] Lock-up Period - A lock-up period of 6 months applies to 10% of the shares allocated to offline investors, while 90% of the shares will be freely tradable upon listing [7]

Core Points - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of no more than 21.67 million shares on the ChiNext board, with a determined price of RMB 27.69 per share [1][2][3] - The IPO will utilize a combination of strategic placement, offline issuance, and online issuance methods, with strategic placement accounting for 20% of the total issuance [1][2] - The final strategic placement quantity is 4,261,464 shares, which is 19.67% of the total issuance, with a portion allocated to senior management and core employees [2][4] Strategic Placement - The initial strategic placement was set at 4,334,000 shares, but the final number was adjusted to 4,261,464 shares due to a reallocation of 72,536 shares to offline issuance [2][4] - Senior management and core employees participated in the strategic placement through a special asset management plan, receiving 2,094,618 shares, which is 9.67% of the total issuance [2][4] - Other investors in the strategic placement received a total of 2,166,846 shares, accounting for 10% of the total issuance [2][4] Issuance Mechanism - The issuance price is determined based on the median and weighted average of bids from qualified investors, excluding the highest bid [1][3] - The initial offline issuance quantity was 5,200,500 shares, which is 29.87% of the total issuance after deducting the final strategic placement quantity [2][3] - A mechanism was activated to reallocate 20% of the total issuance from offline to online due to a high subscription rate of 10,974.57 times, resulting in an online issuance of 8,682,500 shares [3][4] Subscription and Payment - The subscription and payment process for the new shares concluded on September 3, 2025, with a final online subscription rate of 0.0152% and an effective subscription multiple of 6,573.37 times [3][4] - The offline portion of the issuance has a six-month lock-up period for 877,463 shares, which is approximately 10.06% of the offline total [5][6] Underwriting and Fees - The lead underwriter, Zheshang Securities Co., Ltd., will underwrite all shares that were not subscribed by online investors, totaling 56,097 shares [5][6] - The total issuance costs amount to RMB 54.54 million, excluding value-added tax [6]

Core Viewpoint - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21,670,000 shares of RMB ordinary shares (A-shares) and will be listed on the Growth Enterprise Market [1][2] Group 1 - The IPO application has been approved by the Shenzhen Stock Exchange Listing Review Committee and registered by the China Securities Regulatory Commission [1] - The lead underwriter for this issuance is Zheshang Securities Co., Ltd. [3] - Investors are required to ensure sufficient funds in their accounts by September 3, 2025, to fulfill their subscription obligations [1] Group 2 - The shares issued online will have no circulation restrictions and can be traded immediately upon listing [2] - Investors who fail to pay for shares after winning a subscription three times within twelve months will be prohibited from participating in online subscriptions for six months [2] - The announcement serves as a notification to investors who participated in the online subscription and won shares [2]

Core Points - Jiangxi Aifenda HVAC Technology Co., Ltd. has successfully completed its initial public offering (IPO) of up to 21.67 million shares of ordinary shares (A shares) and has received approval for listing on the ChiNext board [1] - The lead underwriter for this IPO is Zheshang Securities Co., Ltd. [1] - Investors are required to ensure sufficient funds for subscription by the end of September 3, 2025 (T+2 day), and any shortfall will be considered as a waiver of subscription [1] Subscription and Lottery Results - The stocks will be tradable on the Shenzhen Stock Exchange starting from the listing date [2] - Investors who waive their subscription will be prohibited from participating in new stock, depositary receipts, convertible bonds, and exchangeable bonds online for six months from the date of their last waiver [2] - The lottery for the subscription was conducted on September 2, 2025, under the supervision of a public notary, with a total of 17,365 winning numbers announced [2]

Core Viewpoint - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21.67 million shares on the ChiNext board, with the underwriting led by Zheshang Securities Co., Ltd. [1] Summary by Sections Issuance Details - The total number of shares for this issuance is set at 21.67 million, with a price of RMB 27.69 per share [2] - The issuance will involve a combination of strategic placement, offline pricing for qualified investors, and online issuance for public investors holding non-restricted A-shares [1][2] Strategic Placement - The initial strategic placement is 4.33 million shares, accounting for 20% of the total issuance [3] - The final strategic placement consists of 4.26 million shares, which is 19.67% of the total issuance, with a portion allocated to senior management and core employees [3] Issuance Process - The online issuance of 520,050 shares will occur on September 1, 2025, with payment obligations due by September 3, 2025 [4] - Investors must ensure that their funds are available by the specified date to avoid invalidation of their share allocation [5] Lock-up Periods - Online issued shares have no restrictions and can be traded immediately upon listing, while 10% of the offline issued shares will have a six-month lock-up period [6] - Shares allocated through strategic placement will have a 12-month lock-up period [6] Subscription Statistics - The online issuance received 12,841,532 valid applications, totaling 57,073,257,500 shares, with a total of 114,146,515 allocation numbers [9] - The initial effective subscription multiple for online investors was 10,974.57, leading to a decision to implement a reallocation mechanism [10] Reallocation Mechanism - Following the reallocation, the final offline issuance will be 8.73 million shares (50.13% of the adjusted total), while the online issuance will be 8.68 million shares (49.87% of the adjusted total) [10] - The final online issuance success rate is 0.0152% with an effective subscription multiple of 6,573.37 [10] Lottery and Results Announcement - A lottery for share allocation will take place on September 2, 2025, with results announced on September 3, 2025 [11]

Core Viewpoint - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21.67 million shares on the ChiNext board, with a set price of RMB 27.69 per share [1][2]. Summary by Sections IPO Details - The IPO will consist of a maximum of 21.67 million ordinary shares and has been approved by the Shenzhen Stock Exchange and the China Securities Regulatory Commission [1]. - The offering will utilize a combination of strategic placement, offline inquiry, and online issuance methods [1]. Issuance Structure - The initial strategic placement is set at 4.334 million shares, accounting for 20% of the total issuance [3]. - The final strategic placement amounts to approximately 4.261 million shares, which is 19.67% of the total issuance, with a slight adjustment from the initial number [3]. - The offline issuance will account for 29.87% of the total shares after the strategic placement adjustment [3]. Subscription and Allocation - As of the subscription period, there were 12,841,532 valid applications for the online issuance, totaling 57,073,257,500 shares, indicating a high demand [7]. - The initial subscription multiple for online investors was 10,974.57 times, leading to the activation of the allocation mechanism to shift shares from offline to online [8]. Lock-up Periods - For offline investors, 90% of the allocated shares will have no lock-up period, while 10% will be subject to a 6-month lock-up [6]. - Strategic placement shares for senior management and core employees will have a 12-month lock-up period [6]. Lottery and Results Announcement - The lottery for share allocation is scheduled for September 2, 2025, with results to be announced on September 3, 2025 [8].

Corporate Governance Structure - The company has established a clear and standardized corporate governance structure, including the General Meeting of Shareholders, Board of Directors, Supervisory Board, and senior management, along with specialized committees such as the Strategy Committee, Compensation and Assessment Committee, Audit Committee, and Nomination Committee [1] General Meeting of Shareholders - During the reporting period, the company held 15 General Meetings of Shareholders, all conducted in accordance with the Articles of Association and the Rules of Procedure for General Meetings, with no violations reported [1] Board of Directors - The company has a Board of Directors consisting of 7 members, including 3 independent directors, and has held 21 Board meetings during the reporting period, all compliant with the Articles of Association and the Rules of Procedure for Board Meetings [2] Supervisory Board - The Supervisory Board is composed of 3 members, including 1 employee representative, and has held 13 meetings during the reporting period, adhering to the relevant regulations [2] Independent Directors - The company has implemented an Independent Director Work System, ensuring that independent directors account for no less than one-third of the Board. Independent directors have actively contributed to improving corporate governance and risk management [2][3] Board Secretary - A Board Secretary System has been established, with the current Board Secretary fulfilling responsibilities in accordance with the Articles of Association and relevant regulations, ensuring legal compliance in the convening of Board and General Meetings [3]