New Stock News | Junshi Biosciences Plans to List in Hong Kong. China Securities Regulatory Commission requires additional disclosure on the pricing basis and history of all previous capital increases and equity transfers.

The China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Issuance and Listing Filings (February 9, 2026 - March 2, 2026)". The International Department of the China Securities Regulatory Commission requested supplementary materials from 7 companies, including requesting Junsei Biology to provide additional explanations on the company's previous capital increases and equity transfer prices and pricing basis, as well as whether the establishment of the company and previous changes in equity are legal and compliant. It is reported that Junsei Biology submitted its listing application to the Main Board of the Hong Kong Stock Exchange on December 10, 2025, with CITIC SEC as the sole sponsor. The China Securities Regulatory Commission requested Junsei Biology to provide clarification on the following matters and requested lawyers to verify and provide clear legal opinions: 1. Please provide clarification on: (1) whether there are abnormal entry prices in the company's previous capital increases and equity transfer prices and pricing basis, whether there is any transfer of benefits, whether paid-up capital has been made, whether there is any failure to fulfill capital contribution obligations, embezzlement of capital, or flaws in the capital contribution method; (2) please provide a conclusive opinion on the legality and compliance of the company's establishment and previous changes in equity, as well as the company's legal status and effective existence. 2. Please provide clarification on: (1) the situation of the company's controlling shareholder obtaining permanent residency rights overseas; (2) whether there is any nominee holding of shares in the company's historical evolution. 3. Please provide clarification on the pricing basis for the entry prices of new shareholders in the 12 months prior to the submission of the overseas issuance and listing filing application, the reasons for differences compared to the capital increase pricing at the same period, and whether there is any transfer of benefits. 4. Please provide clarification on whether the company and its subsidiaries' business scope involve the development and application of human stem cell technology, medical research and trial development, drug clinical trial services, market research, whether they are actually conducting related businesses and specific operational situations, whether they have obtained the necessary qualifications and licenses, whether their business scope and actual operations involve restricted or prohibited areas for foreign investment, and whether they continue to meet the requirements for foreign investment access after this issuance and listing and "full circulation". 5. Please verify and explain whether the company's product development and business activities require compliance with relevant regulatory procedures for the management of human genetic resources, whether they comply with relevant provisions of the "Regulations on the Management of Human Genetic Resources of the People's Republic of China", such as Article 7 and Article 21. 6. Please provide clarification on whether there are any pledges, freezes, or other defects in the rights of the shareholders who intend to participate in the "full circulation" in this offering. The prospectus shows that Junsei Biology is a biotechnology company dedicated to the innovative cell therapy for solid tumors and innovative drug development, focusing on developing safer, more effective, more accessible, and more affordable immunocellular therapy that is not limited by any fixed molecular targets, covering the most common or most difficult-to-treat solid tumors. According to data from Frost & Sullivan, the company's core product GC101 is the world's first tumor-infiltrating lymphocyte (TIL) therapy that does not require high-intensity preconditioning chemotherapy or IL-2 administration and is expected to become the first approved TIL therapy to be listed in China.