New Stock News | Zhongjie Footwear plans to list overseas. China Securities Regulatory Commission requires a conclusive opinion on the legality and compliance of building offshore structures and return investments overseas.

On August 9th, the China Securities Regulatory Commission released supplementary materials requirements for overseas issuance and listing filings (August 2, 2024 - August 8, 2024), in which the CSRC required Zhongjie Footwear to explain the legality and compliance of the offshore structure establishment and return investment involving forex registration, overseas investment, foreign investment and other regulatory procedures. Specifically, the CSRC publicized that Zhongjie Footwear should provide supplementary explanations on the following matters, and legal opinions should be issued by lawyers: Regarding the equity structure: (1) Supplementary explanation on the establishment and historical evolution of Yifeng Zhongjie Footwear Co., Ltd., Fengcheng City Zhongjie Footwear Co., Ltd., and Shanggao Jiesheng Industrial Co., Ltd.; (2) Explanation on the historical evolution of Smartlook Investment Limited, Fortune Leader Industries Co., Ltd, Trinity-Star Holdings Limited and their domestic operating entities being included in the issuer's structure, including the involved transaction prices and pricing basis, and whether tax declarations were made according to the provisions of the Announcement on Several Issues regarding Enterprise Income Tax on the Indirect Transfer of Property of Non-resident Enterprises; (3) Conclusive opinions on the legality and compliance of the offshore structure establishment and return investment involving forex registration, overseas investment, foreign investment, and other regulatory procedures.