IPO News | High Energy Environment (603588.SH) Proposed Hong Kong Stock Listing The China Securities Regulatory Commission requested additional clarification on whether this fund-raising project is a “high energy consumption” or “high emission” project, etc.
Zhitong Finance App learned that on August 14, the China Securities Regulatory Commission issued the “Requirements for Supplementary Materials for Overseas Issuance and Listing Filing (August 10, 2026 - August 14, 2026)”. The International Division of the China Securities Regulatory Commission issued supplementary material requirements for a total of 8 companies. Among them, the high-energy environment is required to further explain whether this fund-raising project is a “high energy consumption” or “high emission” project. According to the Hong Kong Stock Exchange disclosure on March 27, Beijing High Energy Era Environmental Technology Co., Ltd. (abbreviation: High Energy Environment, 603588.SH) submitted a listing application to the main board of the Hong Kong Stock Exchange, with CCB International as the sole sponsor.
The China Securities Regulatory Commission requested that High Energy Environment provide additional explanations on the following matters, and ask lawyers to check and issue clear legal opinions:
1. Please further explain whether your company has built, is under construction, and whether the current fund-raising project is a “high energy consumption” or “high emission” project, and provide relevant evidence.
2. Based on circumstances such as solvency, etc., please explain whether the actual controller's share pledge, the issuer's and subsidiary company's major loans, and the issuer's external guarantee may cause major ownership disputes over the issuer's shares or lead to changes in the controlling shareholder before and after the issuance is completed.
3. Please itemize the specific amount and proportion of the funds raised by your company for domestic and foreign investment projects in this issuance, and explain the implementation of the relevant approval, approval or filing procedures. For example, please issue a commitment to return all of the funds raised to the country during the implementation of the relevant procedures.
4. Please provide additional information on the details of your company's overseas fund-raising projects and the implementation of overseas investment approval, approval or filing, and provide relevant evidence.
5. Please further explain the details of all pending lawsuits and arbitration involving your company, whether the relevant circumstances will have a significant adverse impact on the company's future operations, whether they will constitute a material obstacle to this issuance, and whether the relevant circumstances have been fully disclosed.
6. Please provide additional information on all administrative penalties and rectification of your company, whether they are major violations of laws and regulations, and whether they will pose a substantial obstacle to this listing. Please also provide materials such as instructions on penalties and rectification findings, court decisions, and punishment documents from the Chongqing Municipal Department of Ecology and Environment.
According to the prospectus, High Energy Environment is a solid waste and hazardous waste resource recycling company in China with a comprehensive product portfolio and a wide range of service fields. The company's product portfolio covers a wide range of metal products, mainly including basic metals, precious metals and key metals. In 2024, the company will recycle 14 kinds of metal elements and sell more than 15 products.