Xin Lang Cai Jing·2025-11-24 08:32Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 10 companies seeking to list in Hong Kong, indicating a rigorous review process for overseas listings by Chinese firms [2][5][7]. Group 1: Regulatory Requirements - Chinese companies must obtain a filing notice from the CSRC before listing in Hong Kong, and this notice must be submitted at least four business days prior to the listing hearing [2]. - The CSRC's International Department has requested additional information from companies including Micro Manufacturing, Rongtai Pharmaceutical, and others regarding their compliance with regulatory guidelines [2][5]. Group 2: Company-Specific Inquiries - Micro Manufacturing: The company is required to clarify the reasons for inconsistencies in the identification of controlling shareholders and provide legal opinions on the matter [2]. Additionally, it must explain the reasonableness of the share prices for new shareholders over the past 12 months and whether there are any issues of interest transfer [2][3]. - Rongtai Pharmaceutical: Similar to Micro Manufacturing, it must justify the share prices for new shareholders and confirm compliance with regulatory guidelines regarding its business operations [5][6]. - Hua Heng Biological: The company needs to provide details on its technology export activities and confirm compliance with regulations prohibiting certain overseas listings [7][8]. - Magic Vision Technology: The company is asked to clarify the pricing basis for share transfers and the legality of its historical equity changes [9][10]. - Wangyuan Technology: The company must explain the rationale behind share transfer pricing and the implications of its previous A-share listing application [13][14]. - Jingchen Semiconductor: The company is required to provide updates on its capital changes and the operational status of its subsidiaries [18][19]. - Changchun High-tech: The company must clarify the ownership structure of its controlling shareholders and the implications of any share pledges [20][21]. - Inpai Pharmaceutical: The company needs to address the pricing basis for its equity changes and confirm compliance with foreign investment regulations [25][26]. - Puyuan Precision Electronics: The company is required to clarify its overseas investment compliance and the operational status of its subsidiaries [27][28]. - Aimeson: The company must provide details on its historical equity changes and the implications of its shareholder structure on compliance with foreign investment regulations [29][30].