Hongli Cayman is a holding company with no material operations of its own and do not generate any revenue. Cash proceeds raised from overseas financing activities, including the cash proceeds from the initial offering, may be transferred by Hongli Cayman to Hongli HK, and then transferred to Hongli WFOE via capital contribution or shareholder loans, as the case may be. Cash proceeds may flow to the VIE from Hongli WFOE pursuant to certain contractual agreements between Hongli WFOE and the VIE as permitted by the applicable PRC regulations. The process for sending such proceeds back to the mainland China may be time-consuming after the closing of the initial offering. We may be unable to use these proceeds to grow the business of the PRC operating entities until the PRC operating entities receive such proceeds in mainland China. Any transfer of funds by the offshore holding company to the entities in the PRC, either as a loan or as an increase in registered capital, are subject to approval by or registration or filing with relevant governmental authorities in mainland China. Any foreign loans procured by the PRC operating entities and Hongli WFOE is required to be registered with China’s State Administration of Foreign Exchange (“SAFE”) or its local branches or satisfy relevant requirements, and Hongli WFOE may not procure foreign loans which exceed the difference between their respective total project investment amount and registered capital or 2.5 times (which may be varied due to the change of mainland China’s national macro-control policy) of the net worth of Hongli WFOE, and the VIE may not procure foreign loans which exceed 2.5 times (which may be varied due to the change of mainland China’s national macro-control policy) of the net worth of the VIE. According to the applicable PRC regulations on foreign-invested enterprises in mainland China, capital contributions to the PRC operating entities are subject to the filing with State Administration for Market Regulation in its local branches, the Ministry of Commerce in its local branches and registration with a local bank authorized by SAFE. See “Item 3. Key Information—D. Risk Factors — Risks Related to Doing Business in China — Mainland China regulation of loans to and direct investment in PRC entities by offshore holding companies and governmental control of currency conversion may delay us from using the proceeds of the initial offering or any future offering to make loans or additional capital contributions to our subsidiaries, which could materially and adversely affect our liquidity and our ability to fund and expand the business of the PRC operating entities.”
Company profile
Ticker
HLP
Exchange
Employees
Location
Industry (SIC)
SEC CIK
HLP stock data
Latest filings (excl ownership)
S-8
Registration of securities for employees
28 Mar 24
6-K
Report of Foreign Private Issuer
30 Nov 23
6-K
Report of Foreign Private Issuer
23 Oct 23
6-K
Report of Foreign Private Issuer
3 Oct 23
20-F
2022 FY
Annual report (foreign)
15 May 23
6-K
Hongli Group Inc. Announces the Exercise of the Underwriter’s Over-Allotment Option
3 May 23
NT 20-F
Notice of late annual filing (foreign)
28 Apr 23
6-K
Hongli Group Inc. Announces Pricing of Initial Public Offering
31 Mar 23
424B4
Prospectus supplement with pricing info
29 Mar 23
CERT
Certification of approval for exchange listing
29 Mar 23
Financial summary
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Annual (USD) | Dec 22 | |
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Institutional ownership, Q2 2023
0.0% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 2 |
Opened positions | 2 |
Closed positions | 2 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 1.61 mm |
Total shares | 577.00 |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Elequin Capital | 500.00 | $1.40 mm |
Tower Research Capital | 77.00 | $215.00 k |
Proequities | 0.00 | $0.00 |