New Stock Listings - Jin Hua New Materials (920015) issued at a price of 18.15[1] - United Power (301656) issued at a price of 12.48[1] - Jianfa Zhixin (301584) issued at a price of 7.05[1] Rights Issues and Announcements - Offer period for Upwind New Materials (688585) from September 29 to October 28, 2025[1] - Last trading day for Zitian Tui (300280) is in 6 trading days[1] Abnormal Fluctuations - Significant abnormal fluctuations reported for multiple stocks including Xian Dao Intelligent (300450) and Hangke Technology (688006)[1] - Various stocks under observation for abnormal trading activities, including Kaipu Cloud (688228) and Zhonghuan Hailu (301040)[1]

Core Viewpoint - The company, Suzhou Huichuan United Power System Co., Ltd., has received approval for its initial public offering (IPO) of 288.57491 million shares at a price of RMB 12.48 per share, with the underwriting managed by Guotai Junan Securities Co., Ltd. [1][2] Issuance Details - The total number of shares for this issuance is 288.57491 million, with the entire offering being new shares and no existing shares being sold by current shareholders [2] - The initial strategic placement was set at 86.572473 million shares, accounting for 30% of the total issuance, with the final strategic placement amounting to 84.935893 million shares, or 29.43% of the total [3][6] Subscription Mechanism - The issuance will utilize a combination of strategic placement, offline inquiry placement, and online issuance to the public, with the stock code being "301656" [1] - The offline initial issuance was 163.239017 million shares, representing 80.16% of the remaining shares after strategic placement, while the online initial issuance was 40.4 million shares, or 19.84% [4] Subscription Results - The online subscription saw a total of 80,827,455 shares subscribed, amounting to RMB 1,008,726,638.40, while offline investors subscribed for 122,508,522 shares, totaling RMB 1,528,906,354.56 [8][9] - The final online issuance rate was 0.0328%, with a subscription multiple of 3,047.16 times [4] Underwriting and Fees - Guotai Junan Securities fully underwrote the shares that were not subscribed, totaling 303,040 shares, with an underwriting amount of RMB 3,781,939.20 [10] - The total issuance costs amounted to RMB 73.449 million, including various fees such as underwriting, auditing, and legal expenses [11]

Core Points - The company, Suzhou Huichuan United Power System Co., Ltd., has received approval for its initial public offering (IPO) of 288.57491 million shares at a price of RMB 12.48 per share [1][2] Group 1: Issuance Details - The IPO will be conducted through a combination of strategic placement, offline issuance to qualified investors, and online issuance to the public [1] - The initial strategic placement will consist of 86.572473 million shares, accounting for 30% of the total issuance [2] - The final strategic placement shares amount to 84.935893 million shares, which is 29.43% of the total issuance, with the difference being allocated to offline issuance [2][3] Group 2: Subscription and Payment Process - Offline investors must pay for their subscriptions by September 17, 2025, and failure to do so will result in the invalidation of their allocations [4][5] - Online investors must ensure sufficient funds are available in their accounts by the same date to avoid forfeiting their allocations [5] Group 3: Lock-up Periods - Shares from the online issuance will have no restrictions and can be traded immediately upon listing [6] - For offline investors, 30% of their allocated shares will be subject to a six-month lock-up period, while 70% will be unrestricted [6] Group 4: Subscription Statistics - The online issuance received 13,329,409 valid applications, totaling 247.210275 billion shares, with a final subscription rate of 0.0328% [8][9] - The initial subscription multiple was 6,119.06621 times, leading to the activation of the allocation mechanism [9] Group 5: Lottery and Results Announcement - The lottery for the online issuance will take place on September 16, 2025, with results announced on September 17, 2025 [11]

Group 1 - The company, United Power (301656.SZ), announced the issuance price of its shares at 12.48 yuan per share based on preliminary inquiry results [1] - The offline issuance subscription date and online subscription date are both set for September 15, 2025 [1] - The pricing decision considered various factors including remaining bids, intended subscription amounts, effective subscription multiples, industry position, market conditions, valuation levels of peer listed companies, funding needs, and underwriting risks [1]