New stock news | New Qian Technology plans to list on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires additional disclosure of the prices of previous equity changes, pricing basis, fairness and other issues.

On August 2nd, the China Securities Regulatory Commission announced the disclosure of supplementary materials for overseas issuance and listing (from July 26th, 2024 to August 1st, 2024), in which it mentioned the requirement for Xinqian Technology to provide additional explanations on the pricing, pricing basis, and fairness of each equity change. According to the Hong Kong Stock Exchange, on June 28th, Xinqian Technology Co., Ltd. submitted its listing application to the Hong Kong Stock Exchange, with CMBC CAPITAL as the exclusive sponsor. Specifically, the CSRC disclosure pointed out that Xinqian Technology is requested to provide explanations on the following matters and have lawyers verify and provide clear legal opinions: 1. Please list and explain the prices, pricing basis, and fairness of each equity change. 2. Please explain whether the existing, under construction, and proposed investment projects belong to "high energy-consuming" and "high emission" projects, and provide relevant basis. 3. Please explain whether the shares held by the shareholders participating in the "full circulation" this time are pledged, frozen, or subject to other disputed situations. 4. Please explain the previous A-share IPO counseling record and the related plans for the A-share listing. It is reported that Xinqian Technology is a leading global producer of food-grade glutamic acid and sucralose, with more than twenty years of experience in the industry. Sucralose has a molecular formula of C12H19Cl3O8, first synthesized in 1976, and is the fifth generation artificial sweetener, mainly used in various foods and beverages. Glutamic acid, also known as aminoacetic acid, has a molecular formula of C2H5NO2, is one type of amino acid, and can be categorized as industrial grade, food grade, and others (such as pharmaceutical grade). According to the Zhaoshizixun report, based on sales volume and revenue in 2023, Xinqian Technology ranks first in the global food-grade glutamic acid manufacturing industry, with a global market share of approximately 5.1% and 3.1%. According to the Zhaoshizixun report, based on sales volume and revenue in 2023, the company is also one of the top five global sucralose producers, with a market share of approximately 4.8% and 4.5%.