According to the new overseas listing and filing regulations for domestic companies that came into effect on March 31, 2023, companies chose to list H-shares in Hong Kong. The original path of big and small is a thing of the past. Companies listed overseas can directly submit a prospectus, and the roadmap will be replaced by a “filing notice”.
On May 17, the International Cooperation Department of the China Securities Regulatory Commission issued a filing notice on the overseas issuance and listing of Hainan Junda New Energy Technology Co., Ltd. (China Cooperation Letter (2024) No. 1047).
The details of the filing notice are as follows:
Hainan Junda New Energy Technology Co., Ltd.:
We have received the filing materials for your company's overseas issuance and listing. According to the “Securities Law of the People's Republic of China”, “Trial Measures on the Administration of Overseas Issuance and Listing of Domestic Enterprises”, etc., I will notify the filing matters as follows:
1. Your company intends to issue no more than 87,167,800 overseas listed common shares and list them on the Hong Kong Stock Exchange.
2. From the date this filing notice is issued until the end of this overseas issuance and listing, if important matters occur in your company, it shall be reported through the China Securities Regulatory Commission's filing management information system in accordance with the relevant regulations on overseas issuance and listing of domestic enterprises.
3. Within 15 working days after your company has completed overseas issuance and listing, you should report the issuance and listing status through the China Securities Regulatory Commission's Filing Management Information System. Your company should strictly abide by relevant domestic and foreign laws, regulations and rules during the overseas issuance and listing process.
4. If your company has not completed overseas distribution and listing within 12 months from the date of issuance of this filing notice and plans to proceed further, the filing materials should be updated.
This filing notice only confirms the company's overseas issuance and listing registration information. It does not indicate that the China Securities Regulatory Commission has made a substantive judgment or guarantee on the investment value of the enterprise's securities or investors' returns, nor does it indicate that the China Securities Regulatory Commission guarantees or determines the authenticity, accuracy, or completeness of the enterprise's filing materials.
China Securities Regulatory Commission International Cooperation Department
May 14, 2024
According to the Hong Kong Stock Exchange listing rules, companies are required to submit a “Notice of Filing” at least 4 business days before the date of approval of the hearing, which means that Junda Co., Ltd. has obtained the preliminary requirements for the Hong Kong listing hearing, or will soon hold a listing hearing on the Hong Kong Stock Exchange.
Junda Co., Ltd. submitted a prospectus on the Hong Kong Stock Exchange on February 6, 2024. Its main intermediary teams include: Huatai International, CMB International, and Deutsche Bank as its co-sponsors; Deloitte as its auditors; Tianyuan and Mimax are its Chinese lawyers and the company's Hong Kong and US lawyers respectively; AllBright and Watkins are its Chinese lawyers and Hong Kong lawyers respectively; and Frost Sullivan is its industry advisor.
Junda Co., Ltd. was founded in 2003. As the world's leading professional photovoltaic cell manufacturer, it continues to focus on R&D, production and sales of high-efficiency photovoltaic cells. According to Frost & Sullivan data, in the first six months of 2023, according to shipment volume, Junda's global market share of photovoltaic cells reached about 10.8%, ranking fifth, and the company's N-type TopCon battery global market share reached about 57.4%, ranking first.
Junda Co., Ltd. was listed on the main board of the Shenzhen Stock Exchange on April 25, 2017, under the stock code 002865.SZ.
Link to the prospectus of Junda Co., Ltd.:
