Zhuzhou Hongda associate's IPO application accepted by SZSE

Zhuzhou Hongda Electronics Corp announced today that its associate company, Jiangsu Zhanxin Semiconductor Technology, has had its application for an initial public offering and listing on the ChiNext board accepted by the Shenzhen Stock Exchange. This marks a significant step for Jiangsu Zhanxin in its pursuit of public listing.

As of the announcement date, Zhuzhou Hongda Electronics Corp indirectly holds 51,023,600 shares in Jiangsu Zhanxin through Nanjing Yixin Yiyi Venture Capital Partnership. This stake represents 13.79% of Jiangsu Zhanxin's total share capital prior to the proposed IPO.

The company cautioned investors that the IPO application still requires approval from the Shenzhen Stock Exchange and registration consent from the China Securities Regulatory Commission. The final outcome remains uncertain, and Zhuzhou Hongda Electronics Corp will provide updates, urging investors to be aware of potential investment risks.