焦点国际拟港股上市 中国证监会要求补充说明搭建离岸架构及返程并购的合规性

Group 1 - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 12 companies, focusing on compliance related to offshore structures and reverse mergers for JiaoTian International [1] - JiaoTian International submitted its listing application to the Hong Kong Stock Exchange on June 26, 2025, with Jianquan Financing Co., Ltd. as the sole sponsor [1] - The CSRC has requested JiaoTian International to provide legal opinions on various compliance issues, including foreign exchange registration, offshore investment, and tax obligations related to its offshore structure and acquisitions [2] Group 2 - The CSRC has asked for explanations regarding the registered capital of domestic operating entities JiaoTian Health and Yuejian Nursing, including reasons for unpaid capital and its impact on operational and debt repayment capabilities [2] - The company must clarify the pricing basis and compliance of past capital increases and share transfers for JiaoTian Health and Yuejian Nursing, ensuring that all contributions have been fulfilled [2] - The company is required to disclose the scale of raised funds after fully exercising the over-allotment option, as stated in the prospectus [3] Group 3 - JiaoTian International primarily engages in the manufacturing and sales of absorbent hygiene products, which are categorized into three types: baby care products, female hygiene products, and adult incontinence products [3] - The company employs a multi-brand strategy to offer a wide range of absorbent hygiene products in China, with brands such as "Cotton Hour," "JiaoTian Baby," and "Beimu Le" for baby care, and "Weiyue" and "Blue Cotton Flower" for female hygiene products [3]