New Stock News | Yuetjiang Technology plans to IPO in Hong Kong. The China Securities Regulatory Commission requires clarification on whether the issuance and listing continue to comply with foreign investment access policies before and after "full circulation".

On August 23, the China Securities Regulatory Commission announced the requirements for supplemental materials for overseas issuance and listing filing (August 16, 2024 - August 22, 2024). Among them, the Commission requires Yuejiang Technology to provide supplementary explanations on the company's possession of the value-added telecommunications business operation license, and whether it continues to comply with the foreign investment access policy before and after this issuance and listing, as well as "full circulation". According to the Hong Kong Stock Exchange disclosure on June 26, Shenzhen Yuejiang Technology Co., Ltd. (Yuejiang Technology) has submitted an application for listing on the Hong Kong Stock Exchange Main Board, with Guotai Junan International and AgBank International as its joint sponsors. At the same time, it is required to explain the progress of the special rights release of Shenzhen Qianfan Qihang No.1 Private Equity Investment Fund Partnership Enterprise (Limited Partnership) and Haikou Guoyingjunhe Enterprise Management Partnership Enterprise (Limited Partnership), whether there are potential disputes or other controversial situations, and whether they constitute substantial obstacles to this issuance and listing. Whether there are any disputed situations such as pledging, freezing, or other disputes in the shares held by the shareholders participating in the "full circulation". The prospectus shows that Yuejiang Technology specializes in the development, manufacturing, and commercialization of collaborative Siasun Robot&Automation, enjoying a leading position in technology. According to the Zhenxing Consulting report, based on the shipments in 2023, Yuejiang Technology ranks among the top two globally in the collaborative Siasun Robot&Automation industry, and is the top collaborator in China, with a global market share of 13.0%. Financially, in 2021, 2022, and 2023, Yuejiang Technology achieved revenues of approximately 174 million yuan, 241 million yuan, and 287 million yuan respectively; with losses of approximately 41.75 million yuan, 52.47 million yuan, and 103 million yuan in the same periods.