应世生物冲刺港股，被要求补充：新增股东入股有无对价异常？应世南京是否涉虚假出资？

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has requested additional materials from InxMed Limited, a biotech company aiming for a Hong Kong IPO, focusing on shareholder contributions, compliance with regulations, and financial disclosures [1][2][3][4]. Group 1: Regulatory Compliance - The CSRC has asked InxMed to clarify the compliance of its offshore structure and return investment with respect to foreign exchange management, overseas investment, and tax regulations [2]. - The company must provide a legal opinion on the pricing basis and payment methods for acquiring domestic operational entities, ensuring compliance with regulations regarding foreign investment in domestic enterprises [2]. Group 2: Shareholder and Equity Changes - InxMed is required to verify the stock options granted to external consultants and assess whether any shareholders are prohibited from holding shares under relevant laws [3]. - The company must justify the reasonableness of the share price for new shareholders over the past 12 months and investigate any anomalies in the share contributions [3]. Group 3: Domestic Operations - The company needs to explain the reasons for its capital reduction in Nanjing and confirm that there are no issues of false contributions or capital withdrawal, ensuring compliance with the Company Law and tax regulations [3]. - A review of the legality of historical equity holding arrangements in Beijing is also required [3]. Group 4: Business Operations - InxMed must clarify whether its business activities involve restricted areas such as human stem cells and gene diagnosis and treatment, ensuring compliance with foreign investment policies [4]. - The company is also required to supplement its financial status in the filing report with net asset data [4]. Group 5: Financial Performance - InxMed reported net revenues of approximately -392,000 yuan, 2.472 million yuan, and 1.603 million yuan for 2023, 2024, and Q1 2025 respectively, with losses of 209 million yuan, 185 million yuan, and 3.369 million yuan during the same periods [5][6]. - The company has been operating at a loss since its inception and cannot guarantee future revenue or profitability, with significant ongoing R&D expenses expected [6].