New stock news | Yingpai Pharmaceutical plans to list on the Hong Kong stock market. The China Securities Regulatory Commission requires supplementary explanations on previous capital increases and pricing basis for equity transfers.

On November 14th, the China Securities Regulatory Commission disclosed the "Supplementary Materials Requirements for Overseas Issuance and Listing Application (November 10, 2025 - November 14, 2025)". The International Bureau of the China Securities Regulatory Commission announced the supplementary material requirements for 10 companies, including the requirement for Yingpai Pharmaceuticals to provide explanations on past capital increases, pricing basis for equity transfers, and whether there have been instances of shareholding proxies since its establishment. According to the Hong Kong Stock Exchange's disclosure on September 26th, Nanjing Yingpai Pharmaceuticals Co., Ltd. submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Goldman Sachs and China International Capital Corporation as joint sponsors. The China Securities Regulatory Commission requested Yingpai Pharmaceuticals to provide explanations on the following matters and to have lawyers verify and provide clear legal opinions: 1. Regarding equity changes: (1) Please explain the pricing basis for the company's past capital increases and equity transfers, whether the capital has been fully paid, whether there are instances of failure to fulfill capital obligations, capital diversion, or flaws in the capital contribution method, and provide a conclusive opinion on the legality and compliance of past equity changes; (2) Please explain the specific compliance status of the overseas investment and foreign exchange registration procedures involving the company's three overseas subsidiaries, and provide a conclusive opinion on compliance; (3) Please explain whether there have been instances of shareholding proxies since the company's establishment. 2. Please explain whether there are legal and regulatory prohibitions for domestic entities exceeding 5% ownership shares of the company after piercing through. 3. Please explain the company's business scope, actual business operations, and whether they involve "human stem cells, genetic diagnosis and treatment technology development and application" or other areas restricted or prohibited for foreign investment, along with the corresponding basis of judgement based on the company's drug research and development technology route. Also, confirm whether the company continues to comply with foreign investment access policy requirements before and after this issuance listing. 4. Regarding this issuance listing and "full circulation": (1) Please explain the current issuance plan in accordance with the "Regulatory Rules Application Guide - Overseas Issuance and Listing Type No. 2"; (2) Please clarify if there are any pledges, freezes, or other rights defects in the shares held by the shareholders planning to participate in "full circulation" in this issuance. Yingpai Pharmaceuticals was established in 2009 and is a biotechnology company in the commercialization stage, focusing on the global development of precise anti-cancer therapy based on synthetic lethality mechanisms. The company has established a comprehensive and advanced portfolio of synthetic lethality products and is one of the only three companies in the world to have both commercial-stage PARP1/2 inhibitors and clinical-stage next-generation PARP1 selective inhibitors. The company's core product, Senaparib, is a PARP1/2 inhibitor that was approved for first-line maintenance therapy for ovarian cancer in all populations in China in January 2025 and has commenced commercialization. The results of its Phase III registration clinical trial (FLAMES study) show that Senaparib demonstrates the greatest progression-free survival benefit among all PARP inhibitors approved for this indication and has good tolerability.