New Stock News | New Element Pharmaceuticals Plans to List on the Hong Kong Stock Exchange. China Securities Regulatory Commission Requires Supplementary Disclosure of Basic Information on New Shareholders Added in the Last 12 Months and Other Matters.

On October 31st, the China Securities Regulatory Commission (CSRC) announced "Supplementary Information Requirements for Overseas Issuance and Listing Filings (October 27, 2025 - October 31, 2025)". The CSRC International Division issued supplementary material requirements to nine enterprises, including a request for New Element Pharmaceuticals to provide additional information on the basic information of new shareholders in the past 12 months. It is reported that New Element Pharmaceuticals submitted an application for listing on the main board of the Hong Kong Stock Exchange on September 15, 2025, with CITIC SEC as its exclusive sponsor. The CSRC requested New Element Pharmaceuticals to provide clarification on the following matters and asked lawyers to verify and provide clear legal opinions: 1. Please explain the reasons for the inconsistency in the determination results of the controlling shareholders in the filing materials and the determination criteria, and provide a clear conclusion on the determination of the controlling shareholders before and after the listing. 2. Please explain the basic information of new shareholders in the past 12 months, reasons for investment, investment prices, and pricing basis, and whether there are abnormal investment prices and situations of benefit transfer. 3. Please explain whether the shares held by the shareholders participating in this offering are subject to pledges, freezes, or other defects in rights. The prospectus shows that New Element Pharmaceuticals was established in 2012 and is a biotechnology company focusing on the development of globally competitive and commercially valuable therapies in the fields of metabolism, inflammation, and cardiovascular diseases. It covers the full process care of gout patients, providing comprehensive solutions for hyperuricemia, chronic gout, acute gout, gout stone dissolution, and combined hyperuricemia and chronic kidney disease (CKD). The company has established a pipeline including two clinical stage products and multiple preclinical stage projects. The company's core product, ABP-671, developed independently, has a unique chemical structure that eliminates the risk of liver toxicity compared to benzbromarone and its derivatives. In addition, ABP-671 has higher target selectivity and better uric acid lowering efficacy. Currently, ABP-671 is undergoing Phase 2b/3 clinical trials in the United States and China for the treatment of gout and hyperuricemia, aiming to become a leading class 1 innovative uric acid transporter 1 (URAT1) inhibitor targeting the first-line treatment market. ABP-671 has also shown promising preclinical results in indications other than gout and hyperuricemia, including combined hyperuricemia and CKD, as well as refractory gout (or tophaceous gout).