New stock news | Youle Group plans Hong Kong IPO. The China Securities Regulatory Commission requires additional details on pricing basis, fairness, and all past share changes since establishment.

On January 17, the China Securities Regulatory Commission (CSRC) announced the disclosure of supplementary materials for overseas issuance and listing application (from January 10, 2025 to January 16, 2025). The public disclosure mentioned that Yulesai Group was required to provide additional explanations on the pricing basis and fairness of all share changes since its establishment, as well as whether the shares held by the proposed "full circulation" shareholders are subject to pledge, freeze, or other rights defects. According to Hong Kong Stock Exchange's disclosure on November 18, 2024, Yulesai Group submitted its listing application to the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as its exclusive sponsor. Specifically, the CSRC disclosure pointed out that Yulesai Group was required to provide supplementary explanations on the following matters and have lawyers verify and provide clear legal opinions: 1. Please explain whether the company's leasing business involves financing leasing based on the business operation. 2. Please explain whether the company's shareholder Suqian Guofa Entrepreneurship Investment Enterprise (Limited Partnership) should be registered as a private fund product according to laws and regulations, the reasons for not being registered as a private fund product, and the legal consequences, and whether it poses obstacles to this issuance and listing. 3. Please provide additional explanations on the pricing basis and fairness of all share changes since the establishment, as well as whether the shares held by the proposed "full circulation" shareholders are subject to pledge, freeze, or other rights defects. 4. Please explain the situation of partners who have exited the employee shareholding platform and are no longer participating in the employee shareholding plan, and whether there are any disputes or disputes. The prospectus shows that Yulesai Group is a leading integrated circular packaging service provider in China, mainly focusing on providing services to automotive parts manufacturers and OEMs in the automotive industry. The company's comprehensive services include two main divisions: integrated container management, covering shared operational services (managing the entire container operation process from design to recycling through the company's digital capabilities and extensive operational network) and leasing services and other value-added services; and container sales (providing containers tailored to meet customers' different needs). According to Frost & Sullivan, based on revenue in 2023, the company is the largest service provider in the shared operational services industry and the shared operational services industry in the automotive field in China.