New stock news | Boche.com plans Hong Kong IPO, China Securities Regulatory Commission requires explanation of share buyback price, pricing basis.

On April 18th, the China Securities Regulatory Commission announced the requirements for the supplementary materials for overseas issuance and listing filing disclosure (April 11, 2025 - April 17, 2025). The CSRC requested BoChe.com to provide additional explanations on the repurchase price of the issuer's shares, pricing basis, and the tax payment situation of the repurchased party; the acquisition of domestic operating entities such as BoChe Information Technology, Hengtai BoChe Auction, Hengtai BoChe Auction Network, CheWins Information, including the price, payment, pricing basis, and the tax payment situation of the transferor. According to the disclosure by the Hong Kong Stock Exchange on February 21st, BoChe.com submitted an application to the Hong Kong Stock Exchange main board, with CITIC SEC and FOSUN INTL Capital as joint sponsors. Specifically, the CSRC requested the company to provide explanations on the following matters and asked lawyers to verify and provide clear legal opinions: 1. Regarding the equity structure, please explain: (1) the repurchase price of the issuer's shares, pricing basis, and the tax payment situation of the repurchased party; (2) the price, payment, pricing basis, and the tax payment situation of the transferor of domestic operating entities such as BoChe Information Technology, Hengtai BoChe Auction, Hengtai BoChe Auction Network, CheWins Information; (3) the compliance with the overseas investment procedures of domestic enterprise shareholders; (4) the reasons for the previously established agreement structure. 2. The reasons for the domestic operating entity not obtaining the Internet information service business operation license and its compliance. 3. Regarding equity incentives, please explain: (1) the specific situation of external consultants involved in the option incentives, and refer to the requirements related to external personnel in the employee shareholding plan in accordance with the "Regulatory Rules Application Guidelines - Overseas Issuance and Listing No. 2"; (2) the specific situation of the 23 individuals after DeXXully penetration; (3) the specific situation of reserved equity, and whether the related shares have been issued. 4. The situation of the websites, apps, mini-programs, official accounts, and other products developed and operated by the company, the scale of collecting and storing user information, the data collection and usage situation, whether there is any provision of information to third parties, and the arrangements or measures for personal information protection and data security before and after listing. The prospectus shows that BoChe.com is the largest accident car auction platform. According to data from Prosight Consultancy, based on the trading volume in 2023, BoChe.com is ranked first in China's accident car auction industry with a market share of approximately 31.3%. Leveraging the company's valuation infrastructure and Wuxi Online Offline Communication Information Technology Co., Ltd.'s integrated auction model, the company's accident car auction platform effectively connects the upstream accident car sources (mainly insurance companies) with the downstream accident car buyers (mainly certified repair shops and licensed auto dismantling factories).