New Stock News | Ruijie Electronics Plans to List on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires additional clarification on specific arrangements for the company's stock splitting plan, etc.

On October 31st, the China Securities Regulatory Commission announced the "Supplementary Material Requirements for Overseas Issuance and Listing Registration (October 27, 2025 - October 31, 2025)". The International Department of the China Securities Regulatory Commission issued supplementary material requirements for 9 companies, including a request for FET Electronic to provide further details regarding the specific plan arrangements for the company's stock split. It is known that FET Electronic submitted an application for listing on the main board of the Hong Kong Stock Exchange on September 5, 2025, with CICC and GUOTAI JUNAN I serving as its joint sponsors. The China Securities Regulatory Commission requested FET Electronic to provide explanations on the following matters, and asked lawyers to verify and provide clear legal opinions: 1. Regarding equity changes: (1) Please explain the pricing and basis of historical capital increases and equity transfers, whether the capital contributions have been paid, whether there are instances of failure to fulfill capital contribution obligations, diversion of capital contributions, or flaws in the capital contribution method, and issue a clear conclusion on the legality and compliance of the establishment and historical equity changes; (2) Please explain whether there have been instances of shareholding proxies in the company's history, and if so, conduct checks according to the requirements related to shareholding proxies in the "Regulatory Rules Applicable Guidance - Overseas Issuance and Listing Class No.2". 2. Regarding shareholder situations: (1) Please explain whether existing shareholders include private equity funds, and if so, whether they have been registered with the China Securities Investment Fund Industry Association; (2) Please explain whether there are legal entities in mainland China that are prohibited from holding shares after the penetration of shareholder Hai Feng Investment; (3) Please explain the progress of identifying state-owned shareholders in the mixed reform fund; (4) Please explain the reasonableness of the prices at which new shareholders, such as Guo Feng Investment, have recently acquired shares within the past 12 months, reasons for discrepancies in acquisition prices at the same time, and whether there are any abnormal situations regarding the consideration for shares. 3. Please explain whether participants in the company's equity incentive plan are employees of the company, whether external personnel are involved, and issue a clear conclusion on the fairness of the implementation of the equity incentive plan and whether there are any instances of transferring benefits. 4. Regarding this issuance and listing and the "full circulation" plan: (1) Please explain the specific arrangement for the company's stock split, and whether it will affect the number of shares issued in this offering; (2) Please explain whether the shares held by shareholders intending to participate in the "full circulation" in this offering are subject to pledges, frozen, or other defects in rights. According to the prospectus, FET Electronic is a global leader and pioneer in the field of wireless sensor SoCs, dedicated to providing innovative sensor chips. According to a Frost & Sullivan report based on revenue in 2024, FET Electronic is the third-largest automotive wireless sensor SoC company globally, and the largest in China. FET Electronic is at the forefront of the industry in wireless sensor chip wirelessization and SoC. Given that wireless sensor SoCs are key growth engines in the automotive electronics field, FET Electronic has taken the lead since 2018 in mass-producing high-performance automotive-grade wireless sensor SoCs, seizing a first-mover advantage. With deep domain expertise and an expandable SoC platform, the company successfully applied these innovative achievements to other high-growth verticals such as energy storage and industrial electronics starting in 2021, providing a new generation of features with its wireless sensor SoCs for these sectors.