IPO News | Platinum New Materials (300811.SZ) Proposes Hong Kong Stock IPO, China Securities Regulatory Commission Requests Additional Clarification on Whether the Company and Its Affiliates Are Actually Carrying Out Property Management-Related Businesses

The Zhitong Finance App learned that on September 30, the China Securities Regulatory Commission issued the “Requirements for Supplementary Materials for Overseas Issuance and Listing Filing (September 20, 2026 to September 30, 2026)”. The International Division of the China Securities Regulatory Commission issued supplementary material requirements for a total of 5 companies. Among them, Platco New Materials (300811.SZ) is required to provide additional information on matters such as whether the company and its subsidiaries are actually carrying out business related to property management, and whether there are “high energy consumption” and “high emission” projects. According to the Hong Kong Stock Exchange's disclosure on July 8, Shenzhen Platinum New Materials Co., Ltd. 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 Platinum New Materials to further explain the following matters, and ask lawyers to check and issue clear legal opinions:

1. The scope of business of your company and its subsidiaries involves property management. Please indicate whether you are actually carrying out related business. If you carry out related business, you should indicate the business model, revenue scale and share, etc.

2. Your company and its subsidiaries hold a “sewage discharge permit” and have a sewage discharge registration situation with fixed pollution sources. Please indicate whether your industry is a “high energy consumption” and “high emission” industry, and whether there are “high energy consumption” and “high emission” projects and provide relevant evidence.

3. Huizhou Platinum Technology has been administratively punished due to a production safety accident. Please provide additional opinions from municipal emergency management departments to explain whether it is a major production safety accident and whether it is a major violation of laws and regulations.

4. Please explain the implementation of supervisory procedures such as overseas investment and foreign exchange registration involving the establishment of an overseas subsidiary by your company. The lawyer will check and issue a concluding opinion on compliance.

5. Please further explain the necessity and rationality of this listing in Hong Kong in conjunction with the fund-raising investment.

According to the prospectus, Platco New Materials is a leading global provider of alloy soft magnetic powder products. During the track record period, Platintech's product portfolio mainly included (i) alloy soft magnetic powder cores, (ii) AI chip inductors, and (iii) alloy soft magnetic powder.

According to data from Insight Consulting, Platinum New Materials is one of the few companies in the world with vertical integration capabilities covering alloy soft magnetic powders, alloy soft magnetic powder cores to AI chip inductors. In terms of revenue in 2025, Platinum New Materials (i) ranked first in the global alloy soft magnetic powder core market, with a market share of 27.1%, and (ii) ranked fifth in the global AI chip inductor market, with a market share of 7.6%. Platco New Materials products have entered the supply chain of the world's leading AI chip companies and cloud service providers.