New Stock News | Unisplendour Corporation (000938.SZ) plans to launch an IPO in Hong Kong. The China Securities Regulatory Commission requires an explanation of the changes in equity structure before and after this overseas listing.

On August 8, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing application disclosure (August 1, 2025 - August 7, 2025). The CSRC requires Unisplendour Corporation (000938.SZ) to disclose the changes in the company's equity structure before and after the overseas listing, especially in the case of full exercise of the over-allotment option. They also need to explain the addition of new shareholders Cinda Fengshi 2 Single Asset Management Plan and the operation mode of Chang'an TrustZhongbao Investment 1 Trust. According to the disclosure by the Hong Kong Stock Exchange on May 29, Unisplendour Corporation has submitted an IPO application to the HKEx, with China Securities Co., Ltd. International, BNP Paribas, and CMB International as its joint sponsors. Furthermore, the CSRC requests an explanation on the specific situations of real estate development, surveying services, satellite navigation business, and other related operations within the scope of the company and its subsidiaries. They need to clarify whether these businesses are actually being conducted, the operational status, whether necessary qualifications and licenses have been obtained, whether the scope of business and actual operations involve restrictions or prohibitions on foreign investment, and whether they continue to meet the requirements for foreign investment access before and after this issuance and listing. In addition, they need to explain the reasons and criteria for inconsistencies in the identification of the controlling shareholder in the filing materials, and issue a clear conclusive opinion on the identification of the controlling shareholder. They also need to explain the specific situation of the pledge of 100% equity of the controlling shareholder of the company, Tibet UniGroup Communications, whether it may lead to significant ownership disputes, and its impact on the company and its subsidiaries' control and normal business operations. According to the prospectus, Unisplendour Corporation is a global leader in digital and artificial intelligence solutions. The company provides full-stack intelligent ICT infrastructure products, complemented by advanced cloud intelligent platforms. The solutions offered can help customers in various industries accelerate their digitalization and intelligence transformation.