New stock news | Shengwei Era plans Hong Kong IPO, CSRC requires supplementary explanations on arrangements or measures for personal information protection, etc.

On December 13, the China Securities Regulatory Commission (CSRC) announced the requirements for supplementary materials for overseas issuance and listing (from December 6, 2024 to December 12, 2024), mentioning that Shengwei Times needs to provide supplementary explanations on arrangements or measures for personal information protection and data security before and after listing. According to the disclosure by the Hong Kong Stock Exchange on November 13, Shengwei Times Technology Co., Ltd. has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as the sole sponsor. Specifically, the CSRC public notice stated, please provide supplementary explanations on the following matters, have a lawyer verify it and provide clear legal opinions: 1. Please provide supplementary information on the scale of user information collected and stored by your company, data collection and usage, arrangements or measures for personal information protection and data security before and after listing. 2. Please explain whether the shares held by shareholders participating in this "full circulation" are subject to pledge, freeze, or other disputed situations. 3. Please provide an update on the progress of identifying state-owned shareholders and have the lawyer issue a clear conclusion on whether the relevant state-owned asset management approval, filing, or approval procedures have been legally fulfilled for this issuance and listing. The prospectus shows that Shengwei Times is a leading provider of intercity and intracity road passenger transport information services in China. According to Frost & Sullivan, based on ticket sales volume, the company ranked first in the Chinese road passenger transport information services market in 2023. Based on the number of "Internet Booking Taxi Operation Permit"s, as of June 30, 2024, the company ranked second in the Chinese online taxi service market. As of June 30, 2024, Shengwei Times has cooperated with major OTAs in China, including 12306, Hanglvzhongying, Tongcheng, Ctrip, and Fliggy. "Travel365" is the company's ticket sales and other passenger service platform targeting passengers through Wuxi Online Offline Communication Information Technology Co., Ltd. According to Frost & Sullivan, based on ticket sales volume under the online ticketing service business in 2023, the company ranked first in the Chinese road passenger transport information services industry. The company's total transactions in 2023 amounted to 2.9 billion RMB, with ticket sales reaching 61.2 million.