Group 1 - The China Securities Regulatory Commission (CSRC) has requested additional disclosures from Banu Hotpot regarding dividend decisions, tax payments, and foreign exchange management procedures during the reporting period [1][2] - Banu International Holdings Limited has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation and CMB International as joint sponsors [1] - Banu is recognized as the largest quality hotpot brand in China, holding a 3.1% market share in the quality hotpot sector as of 2024, according to Frost & Sullivan [2] Group 2 - The CSRC has asked Banu to clarify the reasons for the founder's and spouse's additional shareholding through Tomato Second, despite existing holdings through personal and employee platforms [1] - The company must provide details on the development and operation of its digital products, including user information collection and data security measures before and after the listing [2] - The company is required to explain the internal decision-making process for dividends, the necessity of financing for the listing, and compliance with labor laws regarding non-full-time employees [2]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has requested additional documentation from Estun Automation (002747.SZ) regarding the inconsistency in the identification of its controlling shareholder and the implications of pledged shares on the company's control and operations [1] Group 1: Regulatory Requirements - CSRC requires Estun to clarify the reasons and standards for the inconsistent identification of its controlling shareholder and to provide a conclusive opinion on this matter [1] - The commission also demands details on the specific situation regarding the pledged shares held by the controlling shareholder and its impact on the company's control and normal business operations, assessing whether it constitutes a situation that prohibits overseas listing as per relevant regulations [1] Group 2: Company Background - Estun is recognized as a leading enterprise in the Chinese industrial robotics sector, with its shipment volume consistently ranking first among domestic companies in the industrial robot solutions market [1] - According to Frost & Sullivan, Estun achieved a historic milestone in Q1 2025, surpassing foreign brands in domestic market shipment volume, becoming the first domestic robot company to lead the Chinese industrial robot solutions market [1]

Group 1 - The China Securities Regulatory Commission (CSRC) has requested additional information from Banu Hotpot regarding its dividend decision-making process, tax payments, and foreign exchange management compliance during the reporting period [1][2] - Banu International Holdings Limited has submitted a listing application to the Hong Kong Stock Exchange, with CICC and China Merchants International as joint sponsors [1] - Banu is recognized as the largest quality hotpot brand in China, holding a 3.1% market share in the quality hotpot sector as of 2024, according to Frost & Sullivan [2] Group 2 - The CSRC has asked Banu to clarify the reasons behind the ownership structure involving Tomato Second and the compliance of related foreign investment and foreign exchange management procedures [1][2] - The company must provide details on its website, app, and data protection measures, including user information collection and third-party data sharing practices [2] - Banu's internal decision-making regarding dividends and the necessity of financing through the upcoming listing must be justified in light of the company's liabilities [2]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has requested additional documentation from Estun Automation (002747.SZ) regarding discrepancies in the identification of its controlling shareholder and the implications of share pledges on company control and operations [1] Group 1: Regulatory Requirements - CSRC requires Estun to clarify the reasons and standards for inconsistencies in the identification of its controlling shareholder [1] - The commission has asked for a definitive conclusion regarding the controlling shareholder's status and the specific circumstances of share pledges held by the controlling shareholder [1] - Estun must explain the foreign exchange administrative penalties faced by its subsidiary, Nanjing Dingpai Electromechanical Technology Co., Ltd., and whether these constitute significant legal violations impacting the company's upcoming listing [1] Group 2: Company Overview - Estun is recognized as a leading enterprise in the Chinese industrial robotics sector, maintaining the highest shipment volume among domestic companies in the industrial robot solutions market for several consecutive years [1] - According to Frost & Sullivan, Estun achieved a historic milestone in Q1 2025 by surpassing foreign brands in domestic industrial robot shipments, becoming the first domestic company to lead the Chinese industrial robot solutions market [1]

Group 1 - The China Securities Regulatory Commission (CSRC) has requested Chuangzhi Xinian to provide supplementary explanations regarding its previous A-share listing guidance filing and the reasons for its withdrawal, as well as its plans for continuing the A-share listing process [1] - CSRC also requires Chuangzhi Xinian to clarify the qualifications of its road cargo transportation business and the compliance of its technology export activities over the past three years [1] - The company is involved in the production of metallization interconnection plating materials and key process technologies, focusing on wafer-level and chip-level packaging, as well as PCB manufacturing [2] Group 2 - Chuangzhi Xinian is recognized as the largest domestic supplier of wet process plating materials in the Chinese market, according to Frost & Sullivan, based on 2024 revenue [2] - The company has developed a complete product matrix for chemical plating and electroplating materials, covering applications in wafer-level packaging, chip-level packaging, and PCB manufacturing [2] - The CSRC has also requested clarification on the reasonableness of the share price for new shareholders in the past 12 months and whether there are any issues related to interests transfer [1][2]

此外，补充说明公司已实施的股权激励方案合规性，包括具体人员构成及任职情况，参与人员与发行人 其他股东、董事、监事、高级管理人员是否存在关联关系，以及价格公允性、协议约定情况、履行决策 程序情况、规范运行情况，并就其是否合法合规、是否存在利益输送出具明确结论性意见。补充说明公 司本次拟参与"全流通"的股东所持股份是否存在被质押、冻结或其他权利瑕疵的情形。 招股书显示，创智芯联是一家金属化互连镀层材料和关键工艺技术的方案提供商，致力于推动晶圆级和 芯片级封装，以及PCB制造领域镀层材料供应链发展。公司已开发出完整的化镀及电镀材料产品矩阵， 全面覆盖晶圆级封装、芯片级封装及PCB制造的应用场景。根据弗若斯特沙利文的资料，按2024年收入 计，公司是中国市场中最大的国内湿制程镀层材料提供商，同时是中国市场最大的一站式镀层解决方案 提供商。 智通财经APP获悉，8月8日，中国证监会公布境外发行上市备案补充材料要求公示(2025年8月1日— 2025年8月7日)。证监会要求创智芯联补充说明前期进行A股上市辅导备案的具体情况及撤回原因，是 否计划继续推进A股上市及具体安排、是否存在对本次发行上市产生重大影响的情形。据港交所 ...

Group 1: IPO Regulations and Market Dynamics - The Hong Kong Stock Exchange (HKEX) has implemented new IPO pricing regulations, requiring at least 40% of shares to be allocated to book-building investors, with a maximum public subscription clawback of 35% [1] - The new regulations aim to enhance pricing efficiency and attract international issuers and investors, reinforcing Hong Kong's status as a global financial center [1] - The new rules provide larger companies with more flexibility in public shareholding requirements, while smaller companies may face increased challenges due to higher free float requirements [1] Group 2: Fundraising Performance - In the first seven months of the year, the Hong Kong stock market has raised a total of HKD 128.6 billion through 51 IPOs, marking a year-on-year increase of over 600% [2] - More than 80% of new stocks had cornerstone investors, with total cornerstone investment amounting to HKD 51.8 billion, accounting for over 40% of the total fundraising [2] - Approximately 4 million participants engaged in IPO subscriptions, with 65% of new stocks experiencing price increases on their first trading day, and 9 stocks doubling in value this year [2] Group 3: Company Listings - Crystal Integrated (SH688249) is planning to issue H-shares and list on the Hong Kong Stock Exchange, aiming for revenue of HKD 5.07 billion to HKD 5.32 billion in the first half of 2025, representing a year-on-year growth of 15.29% to 20.97% [3] - The company anticipates a net profit of HKD 260 million to HKD 390 million for the same period, reflecting a significant year-on-year increase of 39.04% to 108.55% [3] - The listing is part of Crystal Integrated's strategy to expand internationally and broaden its financing channels amid a competitive semiconductor industry [3] Group 4: Stock Connect Updates - The Shenzhen Stock Exchange has announced the inclusion of Feng'an Technology (HK01304) and Lens Technology (HK06613) in the Stock Connect program, effective from August 4, 2025 [4] - This adjustment allows investors greater selection and is expected to enhance the visibility and capital attraction for the newly included companies [4] - The dynamic adjustment of the Stock Connect reflects market changes and investor demand [4]

Group 1 - The ice cream brand Mr. Wildman (Beijing Mr. Wildman Catering Management Co., Ltd.) is actively preparing for an IPO in Hong Kong [1] - The company is currently recruiting financial audit personnel focused on the Hong Kong IPO, with responsibilities including the establishment of internal control and audit systems [1] - As of February 2025, the number of Mr. Wildman stores is expected to reach approximately 400, and by July, it has surpassed 900 stores, indicating a rapid expansion rate of 125% within just five months [3] Group 2 - The rapid store expansion of Mr. Wildman is likely to attract significant investor interest if the company can maintain strong operational performance and enhance brand influence and market share post-IPO [3] - The correlation between store expansion speed and stock price performance in the capital market suggests that Mr. Wildman's growth could positively impact its stock valuation upon listing [3]

四、请你公司补充说明已实施的股权激励方案合规性，包括具体人员构成及任职情况，参与人员与发行 人其他股东、董事、监事、高级管理人员是否存在关联关系，以及价格公允性、协议约定情况、履行决 策程序情况、规范运行情况，并就其是否合法合规、是否存在利益输送出具明确结论性意见。 五、请你公司补充说明本次拟参与"全流通"的股东所持股份是否存在被质押、冻结或其他权利瑕疵的情 形。 来源：新浪证券 【深度】驭势科技港股IPO：细分业务毛利率波动频繁3年净亏损6.7亿元超过营收总和 近日，驭势科技收到证监会关于本次境外上市的备案反馈意见，具体反馈如下： 一、请补充说明你公司及下属公司经营范围是否涉及《外商投资准入特别管理措施（负面清单）（2024 年版）》领域。 二、请你公司补充说明3家境外子公司涉及的境外投资、外汇登记等监管程序具体履行情况，并就合规 性出具结论性意见。 三、请你公司补充说明国有股东履行国有股标识等国资管理程序进展情况。 近期，驭势科技正式向联交所递交上市申请，计划通过18C章程在香港主板上市，独家保荐人为中信证 券。本次IPO募集所得资金净额将主要用于持续增强研发能力并提供解决方案；拓展海内外业务并提高 商业 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 【深度】日御光伏赴港IPO：研发支出仅为可比公司1/10 半数营收来自第一大客户 近日，日御光伏收到证监会关于本次境外上市的备案反馈意见，具体反馈如下： 一、请补充说明你公司及下属公司经营范围是否涉及《外商投资准入特别管理措施（负面清单）（2024 年版）》领域。 二、请你公司补充说明最近 12 个月内新增股东入股价格的合理性，该等入股价格之间存在差异的原 因，并就是否存在利益输送出具明确结论性意见。 三、请你公司补充说明已实施的股权激励方案合规性，包括具体人员构成及任职情况，参与人员与发行 人其他股东、董事、监事、高级管理人员是否存在关联关系，以及价格公允性、协议约定情况、履行决 策程序情况、规范运行情况，并就其是否合法合规、是否存在利益输送出具明确结论性意见。 四、请你公司补充说明本次拟参与 "全流通" 的股东所持股份是否存在被质押、冻结或其他权利瑕疵的 情形。 五、请你公司补充说明前期进行 A 股上市辅导备案的具体情况，是否计划继续推进 A 股上市及具体安 排、是否存在对本次发行上市产生重大影响的情形。 六、请补充说明涉及你公司及 ...