New Stock News | Termination of IPO Plan for Beijing Stock Exchange Listed Company Jinlong Electric Motor, A Company Listed on the New Third Board, Plans to List in Hong Kong

On April 14th, Zhejiang Jinlong Electric Motor Co., Ltd., a company listed on the New Third Board, announced that its board of directors approved the proposal to issue H shares on April 14, 2026. Jinlong Electric Motor stated that in order to further enhance the company's capital strength and overall competitiveness, and to deepen the company's internationalization strategy, it plans to issue overseas listed foreign shares (H shares) and apply for listing on the main board of the Hong Kong Stock Exchange. Jinlong Electric Motor also mentioned that the board of directors plans to engage Guowei Certified Public Accountants Co., Ltd. as the auditor for this issuance and listing. Furthermore, Jinlong Electric Motor announced that, based on the current situation of the company and future strategic planning considerations, and after a careful reconsideration and planning of the capital market path, the company has decided to terminate the application for a public offering of shares to unspecified qualified investors and listing on the Beijing Stock Exchange, and to withdraw the guidance filing. Jinlong Electric Motor emphasized that the issuance of H shares is subject to approval by the shareholders' meeting and requires filing, approval, or authorization from relevant government agencies, regulatory authorities, and stock exchanges such as the China Securities Regulatory Commission, the Hong Kong Securities and Futures Commission, and the Hong Kong Stock Exchange. The success of the H share issuance is uncertain. The company will fulfill its information disclosure obligations in a timely manner based on the outcome of the shareholders' meeting, the progress of filing, approval, or authorization from relevant government agencies, regulatory authorities, and stock exchanges regarding this matter. Public information shows that Jinlong Electric Motor was founded in 1956, and its motor manufacturing business started in 1981. It is a professional enterprise specializing in the research and development, design, manufacturing, and sales of permanent magnet motors, servo motors, variable frequency drives, and other intelligent products, as well as high-efficiency, low-carbon energy-saving motors, and is committed to providing motor system integration solutions. On September 21, 2022, the company was listed on the New Third Board. The company has established three main product systems: permanent magnet servo motors, frequency drive controls, and three-phase asynchronous motors. Its products cover industries such as new energy vehicles, intelligent manufacturing, CNC machine tools, intelligent manufacturing, rail transportation, coal, oil, environmental protection, as well as general machinery and transmission equipment fields such as pumps, fans, speed reducers, and air compressors. It provides products and solutions for the upgrading and transformation of the intelligent manufacturing industry.