IPO News | Huagong Technology (000988.SZ) Proposes Hong Kong Stock IPO China Securities Regulatory Commission Requests Additional Clarification on Compliance with Regulatory Procedures such as Foreign Exchange Registration for Overseas Subsidiaries

The Zhitong Finance App learned that on August 14, the China Securities Regulatory Commission issued the “Notice on Requirements for Supplementary Material Filing for Overseas Issuance and Listing (August 10, 2026 to August 14, 2026)”. The International Division of the China Securities Regulatory Commission issued supplementary material requirements for a total of 8 companies. Among them, Huagong Technology is required to further explain the specific implementation status of overseas investment, foreign exchange registration, etc. regulations involving all overseas subsidiaries, and issue concluding opinions on compliance. According to the Hong Kong Stock Exchange's disclosure on April 13, Huagong Technology (000988.SZ) submitted a listing application to the main board of the Hong Kong Stock Exchange, and CITIC Securities is its sole sponsor.

The China Securities Regulatory Commission requested Huagong Technology to further explain the following matters. Lawyers carried out inspections and issued clear legal opinions:

1. Specific implementation of overseas investment, foreign exchange registration, etc. supervision involving all overseas subsidiaries, and issue concluding opinions on compliance.

2. Please further explain the necessity and rationality of this listing in Hong Kong in conjunction with the investment of capital raised.

According to the prospectus, Huagong Technology was founded in 1999 and is the first listed company in China's laser industry. After more than 20 years of development, the company has formed three core business matrices of “optical connectivity, intelligent sensing, and intelligent manufacturing”, and is committed to becoming a “sensory and intelligent” full-stack AI capability enabler. According to Frost & Sullivan, Huagong Technology is the sixth largest manufacturer of professional optical interconnection products in the world. The company's core products, 800G and 1.6T optical modules, have been mass-produced and delivered on a global scale, and the industry's first 3.2T NPO/CPO solution, 6.4T NPO solution, and 12.8T XPO will be launched in 2025. In terms of intelligent sensing business, the company's NEV PTC heaters ranked first in the global market in terms of revenue, with a domestic market share of 67.2%. In terms of intelligent manufacturing business, Huagong Technology ranked second in the Chinese laser equipment market in 2025, with a market share of 4.4%.