New Stock News | Zejing Electronics is Planning to List in Hong Kong. China Securities Regulatory Commission requires supplementary explanations on the compliance of the implemented stock incentive plan.

date
18/07/2025
avatar
GMT Eight
The China Securities Regulatory Commission requires Zejing Electronics to supplement the compliance of the implemented equity incentive plan, as well as the reasonableness of the new shareholder's subscription price in the last 12 months.
On July 18, the China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Issuance and Listing Application (July 11, 2025 - July 17, 2025)", with the CSRC's International Department issuing supplementary material requirements to one company. In the announcement, the CSRC requested that Zejing Electronics provide further explanation on the compliance of the implemented equity incentive plan and the reasonableness of the prices paid by new shareholders in the past 12 months. According to information disclosed by the Hong Kong Stock Exchange on May 9, Jiangsu Zejing Automotive Electronics Co., Ltd. (referred to as Zejing Electronics) has submitted an application for listing on the main board of the Hong Kong Stock Exchange. The CSRC requested Zejing Electronics to provide further explanations on the following matters and asked lawyers to verify and provide clear legal opinions: 1. Please provide additional information on whether your company and its subsidiaries' business scope is involved in the areas covered by the "Catalogue of Special Management Measures for Foreign Investment Access (Negative List) (2024 Version)". 2. Please provide explanations on the reasonableness of the prices paid by new shareholders in the past 12 months, the reasons for the differences in these prices, and provide a clear conclusion on whether there is any benefit transfer involved. 3. Please provide further explanations on the compliance of the implemented equity incentive plan, including the composition of specific individuals, their roles, any relationships between participants and other shareholders, directors, supervisors, senior management of the issuer, fairness of prices, agreement conditions, decision-making procedures, operational norms, and provide a clear conclusion on whether they are legal and compliance, and whether there is any benefit transfer involved. 4. Please provide explanations on whether the shares held by shareholders participating in the "full circulation" in this offering are subject to pledges, freezes, or other defects. The prospectus disclosed that Zejing Electronics is a pioneer and leader in innovative intelligent cockpit vision and interactive solutions in China, mainly providing the Windshield HUD solution CyberLens and augmented reality HUD solution CyberVision, as well as comprehensive solutions incorporating testing solutions and other innovative visual technologies.