New stock news | China Aerospace Group plans to list on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires additional clarification on the progress of identifying state-owned shareholders and other matters.

On June 20th, the China Securities Regulatory Commission (CSRC) announced the "Requirements for Supplementary Materials for Overseas Issuance and Listing Filing (June 13, 2025 to June 19, 2025)" and issued supplementary material requirements for 7 enterprises through the CSRC International Department. Among them, Guo Xing Aerospace was required to provide supplementary explanations on the progress of identifying state-owned shareholders, the business scope and actual operations of the company and its subsidiaries, and whether the qualifications held involve restrictions or prohibitions on foreign investment, and so on. It is reported that on January 27th, Guo Xing Aerospace submitted an application to the Hong Kong Stock Exchange main board, with GUOTAI JUNAN I as its exclusive sponsor. The CSRC requested Guo Xing Aerospace to provide clarification on the following matters and asked lawyers to verify and issue clear legal opinions: 1. Whether your company and its subsidiaries are involved in advertising production, advertising design agency, and advertising publishing, please explain whether related business activities are actually carried out and necessary qualifications are obtained, and whether business operations comply with the requirements of the "Notice on Deepening the Clean-up of Internet Advertising". 2. Considering the progress of adjustments in your company and its subsidiaries' related businesses, please explain whether the business scope and actual operations, as well as the qualifications held by your company and its subsidiaries, involve restrictions or prohibitions on foreign investment, and whether they continue to comply with the requirements of foreign investment access policies before and after this issuance and listing and the implementation of "full circulation". 3. Please list the specific situation of your company and its subsidiaries' possession of qualifications such as civil satellite manufacturing, civil remote sensing satellite ground station construction projects, value-added telecommunications business operation licenses, radio frequency use licenses, radio station licenses, civil space launch project licenses, surveying qualifications, etc., including but not limited to the holder, acquisition time, issuing authority, license content, validity period, actual use, etc. 4. Please provide an update on the progress of identifying state-owned shareholders. 5. In accordance with the "Regulatory Rules Application Guide - Overseas Issuance and Listing Type No. 2: Instructions for Filing Material Content and Format", please explain the causes of shareholding trusteeship, evolution, legality and compliance, the existence of disputes or potential disputes, and whether there are subjects prohibited by laws and regulations from directly or indirectly holding shares of your company. 6. Please clarify whether the 5 departing employees involved in the employee stock ownership plan were company employees and whether the 3 external consultants were involved in company management. 7. Please explain whether your company and its subsidiaries are involved in the development and operation of apps, mini-programs, public accounts, and other products, whether they involve the collection and use of personal information, and if so, please explain the scale of information collected and stored, and the use of data. 8. Please explain whether the shares to be held by the shareholders participating in this "full circulation" have any issues such as pledges, freezes, or other defects in rights. According to the prospectus, Guo Xing Aerospace is committed to the construction of commercial satellite constellations, building an integrated AI infrastructure between sky and earth, and providing stable and continuous commercial satellite solutions and space-based intelligent computing services with broad coverage, low cost, and low barriers globally. Since its establishment, the company has been focusing on exploring the intersection of AI technology and satellite technology. The company has made significant achievements in the development of AI satellites and space-based solutions, promoting the innovative development of the satellite industry.