New Stock News | Jianbang High-Tech Plans to List in Hong Kong, China Securities Regulatory Commission Requires Supplementary Information on Chen Jian's Basic Information and Other Situations

On July 4th, the China Securities Regulatory Commission (CSRC) issued the "Supplementary Materials Requirement for Overseas Issuance and Listing Filing (June 27, 2025 - July 3, 2025)", and the CSRC International Department requested supplementary materials from 5 companies. In the announcement, the CSRC required Jianbang High-tech to provide additional information about Chen Jian, whether Chen Jian, Chen Zichun, and their controlled entities have large overdue debts or disputes, major lawsuits or arbitrations, asset freezes, or are considered dishonest subjects. According to the disclosure by the Hong Kong Stock Exchange on May 2nd, Jianbang High-tech Limited (referred to as Jianbang High-tech) has submitted a listing application to the main board of the Hong Kong Stock Exchange. The CSRC requested Jianbang High-tech to provide clarification on the following matters, and requested lawyers to verify and provide clear legal opinions: 1. The domestic entity Jianbang New Materials was indirectly owned by Chen Jian before August 2022; from July to August 2022, the entity controlled by Chen Jian transferred all its shares to his son Chen Zichun (the current actual controller of the company) for free, and the filing materials indicated that the transfer was for free due to the negative net assets of Jianbang New Materials at the time. Please explain the reasonableness of the negative net assets at the time of the transfer in conjunction with the audited net assets at the end of 2022 and the net asset appraisal value at the time of the capital increase in April 2023. Also, provide information on Chen Jian, whether Chen Jian, Chen Zichun, and their controlled entities have large overdue debts or disputes, major lawsuits or arbitrations, asset freezes, or are considered dishonest subjects, and explain whether the company falls under the prohibitive circumstances of overseas issuance and listing as stipulated in Article 8 of the Measures for the Administration of Domestic Enterprises Issuing Securities and Listing Overseas. 2. Please provide explanations on: (1) the conclusiveness of the company's equity structure construction and reverse mergers process complying with the then effective foreign exchange management, overseas investment, foreign investment, tax management, and other regulatory requirements; (2) the basis, payment methods, payment terms, legality, and fairness of the acquisition pricing for obtaining all shares of Jianbang New Materials for domestic operation in April 2025, tax declarations and payments from transferor entities related to the share transfer process, and whether they comply with the provisions on the acquisition of domestic companies by foreign investors; (3) the conclusiveness of the establishment and previous equity changes of the company and its main domestic operating entities. The prospectus shows that Jianbang High-tech is a pioneer and leader in the research, development, production, and sales of silver powder in China. The company's silver powder products are mainly used in the production of photovoltaic silver paste (a key raw material for producing photovoltaic cells). During the historical period, one of the company's main advantages lies in its ability to produce high-end silver powder, which is ultimately used in the production of advanced photovoltaic cells or their components, including the front grid of PERC cells and TOPCon cells, as well as the conductive grid of HJT cells and xBC cells. According to Frost & Sullivan data, based on China's photovoltaic silver powder sales revenue, during the historical period, the company ranked first among all domestic producers, second among all global producers, with a market share of 9.9%.