New Stock News | Xinghuan Technology (688031.SH) Hong Kong Stock IPO Prospectus Invalid

08:40 20/02/2026

Star Ring Information Technology (Shanghai) Co., Ltd. (referred to as Star Ring Technology (688031.SH))'s Hong Kong IPO prospectus submitted on August 18, 2025 expired after six months on February 18, 2026.

StarRing Information Technology (Shanghai) Co., Ltd. (referred to as StarRing Technology (688031.SH)) submitted its Hong Kong IPO prospectus on August 18, 2025, which expired after 6 months on February 18, 2026. HAITONG INT'L was its exclusive sponsor when submitting the prospectus. According to the prospectus, StarRing Technology is an AI infrastructure software provider, enabling efficient construction of AI infrastructure software for enterprises through deep integration of artificial intelligence, big data, and cloud technology, promoting intelligent transformation and business model innovation in various industries. Based on revenue, the company ranked fifth in the Chinese AI infrastructure software market in 2024, and is also the largest pure AI infrastructure software provider. As of March 31, 2025, the company's products and solutions have been implemented in more than ten industries including finance, public sector, energy, healthcare, transportation, manufacturing, serving over 1,600 customers, including around 110 Fortune China 500 companies. From 2022 to 2024, repeat purchases from existing customers accounted for more than 70% of total revenue.

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HK Stock Market Move | SSY GROUP (02005) fell more than 7%, it is expected that the net profit for the year 2025 will decrease by about 45% to 60% year-on-year.

HK Stock Market Move | VICTORY SEC (08540) rose more than 13%. One of its joint venture companies has obtained a license to operate a virtual asset platform.