New Stock News: Changchun High-Tech Industry (000661.SZ) plans to list on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires additional information on the use of raised funds.

On November 14th, the China Securities Regulatory Commission announced the "Requirements for Supplementary Materials for Overseas Issuance and Listing (November 10, 2025 to November 14, 2025)". The International Department of the China Securities Regulatory Commission announced the supplementary material requirements for 10 companies, including the requirement for Changchun High-Tech Industry (000661.SZ) to provide further explanation on the company's use of funds raised and specific details regarding its involvement in AI large models. According to an announcement by the Hong Kong Stock Exchange on September 29th, Changchun High-Tech Industry Technology Industry (Group) Co., Ltd. ("Changchun High-Tech Industry") has submitted an application for listing on the main board of the Hong Kong Stock Exchange with China Securities Co., Ltd. International as its sole sponsor. The China Securities Regulatory Commission requested Changchun High-Tech Industry to provide clarification on the following matters, and requested legal counsel to verify and provide clear legal opinions: 1. Please provide supplementary explanations on your company's controlling shareholder's upper-level investor, Jilin Xinzheng Fund Partnership Enterprise (Limited Partnership), in accordance with the "Regulatory Rules Application Guidelines - Overseas Issuance and Listing No. 2", including whether there are any legal provisions prohibiting shareholding by certain entities. 2. Please supplement explanations on whether the equity pledge situation of the controlling shareholder of your company could lead to a change in the issuer's control rights before and after this issuance, and whether it could result in any prohibitive circumstances as stipulated in Article 8 of the Measures for the Administration of the Issuance of Securities by Domestic Enterprises Overseas and Listing. 3. Please provide further details on the specific circumstances of your company's involvement in AI large models, including the applications, specific functions, and scenarios of large models. 4. Please provide detailed explanations on the use of funds raised by your company. 5. Please provide conclusive opinions on the legality and compliance of your company's establishment and past equity changes, focusing only on major aspects at the moment. 6. Please supplement explanations on: (1) improving the legal opinion in accordance with the "Regulatory Rules Application Guidelines - Overseas Issuance and Listing No. 2". (2) Details on whether your company's subsidiaries are actually engaged in internet information services, drug clinical trial services, medical research and development, cell technology research and applications, etc., whether they have obtained necessary qualifications and licenses, whether they are involved in areas restricted or prohibited for foreign investment, and whether they continue to meet the requirements for foreign investment access before and after this issuance. According to the prospectus, Changchun High-Tech Industry is an innovative-driven pharmaceutical group that covers therapeutic biological drugs, chemical drugs, vaccines, and traditional Chinese medicine, involving all major types of drug registration in China. According to data from Frost & Sullivan, the company is one of the few pharmaceutical companies in China with research, production, and commercialization capabilities across the entire industry chain for the mentioned types of drugs. The company has established a strong and diversified product portfolio in the fields of endocrine and metabolic diseases, women's health, immune and respiratory system diseases, tumors, vaccines, and traditional Chinese medicine.