新股消息 | 明宇制药拟港股上市 中国证监会要求补充说明股权架构搭建及返程并购的合规性等

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for 10 companies, including Mingyu Pharmaceutical, which is preparing for a listing on the Hong Kong Stock Exchange. The CSRC has requested clarifications on compliance regarding equity structure and reverse mergers [1][2]. Group 1: Regulatory Compliance - Mingyu Pharmaceutical is required to clarify the compliance of its equity structure and reverse mergers, including whether shareholders holding over 5% have fulfilled foreign exchange registration requirements and whether domestic entities have complied with outbound investment regulations [1][2]. - The CSRC has asked for legal opinions on whether the establishment of domestic operational entities, Minghui Hangzhou and Minghui Shanghai, has met foreign investment reporting obligations and foreign exchange registration [1][2]. Group 2: Share Capital and Shareholder Information - The company must provide details on whether any upper-tier investors in QimingVIll and QimingVILL-HC are prohibited from holding shares under legal regulations, and the specific arrangements of special shareholder rights and their impact on control [2]. - Recent shareholders, including Radiance, PK, and Chin, must be explained regarding their background, the reasons for shareholding arrangements, and the fairness of the share prices during the recent capital increases [2]. Group 3: Company Overview - Mingyu Pharmaceutical, established in 2018, is a biotechnology innovation company with a dual growth engine based on proprietary antibody-drug conjugate (ADC) platforms and a novel PD-1/VEGF bispecific antibody (bsAb) [3].