Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced additional requirements for overseas listing applications, specifically targeting Flashback Technology and its shareholder structure [1][2]. Group 1: Company Overview - Flashback Technology is a Chinese company focused on providing recycling services for consumer electronics, particularly second-hand mobile phones [2]. - According to Frost & Sullivan, Flashback Technology ranks as the third-largest mobile phone recycling service provider in China, with a market share of approximately 1.3% for both the total transaction value of recycled second-hand phones and sold second-hand phones in 2024 [2]. Group 2: Regulatory Requirements - The CSRC requires Flashback Technology to clarify its equity structure and shareholder transparency, including any historical equity holding arrangements [1]. - The company must conduct a thorough investigation into the overseas investors of Shanghai Xiuhui and explain the reasons for the cessation of transparency regarding Tianjin Jinmi Investment Partnership [1]. - Additional information is required regarding the compliance of the company's major domestic operating entities with foreign investment reporting obligations and foreign exchange registration procedures [2].
闪回科技拟港股IPO 中国证监会要求说明历史沿革中是否存在股权代持情况
Zhi Tong Cai Jing·2025-10-24 13:30