Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 13 companies, including HiLearn, which is preparing for its listing on the Hong Kong Stock Exchange with CMB International as the sole sponsor [1] Group 1: Regulatory Requirements - HiLearn is required to provide clarification on its equity changes and shareholder status, including details on past capital increases, share transfer pricing, and compliance with capital contribution obligations [2] - The company must explain its business scope related to value-added telecommunications, data processing services, and advertising, ensuring compliance with foreign investment regulations [2] - The CSRC requests information on the company's compliance with labor and social insurance regulations, ongoing litigation, and any administrative penalties related to false advertising [2] Group 2: Business Operations - HiLearn is identified as the fourth largest online vocational training service provider in China by revenue for 2024, and the largest provider in online construction vocational training [4] - The company offers tailored training services across various fields, including construction, emergency safety, finance, law, and healthcare [4] - HiLearn aims to leverage AI technology to enhance its platform, positioning itself as a one-stop service platform for career development and lifelong learning for adults [4]
嗨学网拟港股上市 中国证监会要求补充说明股权变动等事项
Zhi Tong Cai Jing·2026-01-05 12:48