New stock news | Okada Pharmaceuticals intends to list on the Hong Kong stock market. The China Securities Regulatory Commission requires further clarification on the compliance with the procedures for each reduction in capital.

On April 10th, the China Securities Regulatory Commission announced the requirements for supplemental materials for overseas issuance and listing filing (April 7, 2026 - April 10, 2026). The International Department of the China Securities Regulatory Commission issued supplemental material requirements for 3 companies, including requesting Aoke Pharmaceutical to supplement explanations on the compliance of previous reductions, payment of related taxes and fees, and the situation of payment for the reduction consideration, etc. It is reported that Aoke Pharmaceuticals has submitted an application for listing on the main board of the Hong Kong Stock Exchange on January 26th, with CMSC International and CICC International as its joint sponsors. The China Securities Regulatory Commission requested Aoke Pharmaceutical to provide explanations on the following matters, and requested lawyers to verify and provide clear legal opinions: 1. Regarding equity changes: (1) Please explain the compliance of the companys previous reductions, payment of related taxes and fees, and payment of the reduction consideration, and provide a clear conclusion on the legality and compliance of the company's previous equity changes; (2) Please explain the progress of the registration procedures for the change of shares of Aoyutai and Shanghai Aoyuan incentive objects; (3) Please provide a clear conclusion on the legality and compliance of the company's employee stock ownership plan. 2. Regarding shareholders: (1) Please explain the reasonableness of the prices of new shareholders' investments within the last 12 months, the reasons for the differences in these investment prices, and provide a clear conclusion on whether there is any transfer of benefits; (2) Please explain whether the domestic entities after the penetration of shareholders holding more than 5% of the company's shares are prohibited by laws and regulations from holding shares. 3. In accordance with the requirements of the "Regulatory Rules Application Guide - No. 2 for Overseas Issuance and Listing", please supplement the financial data for the past three years in the filing report. 4. Please explain the specific compliance of the regulatory procedures for overseas investments and forex registration of Aoshengda, the company's overseas subsidiary, and provide a conclusive opinion on compliance. 5. Regarding this issuance and listing as well as "full circulation": (1) Please explain the specific plan arrangement for the subdivision of company shares, and whether it will affect the number of shares issued this time; (2) Please explain whether the shares held by shareholders intending to participate in "full circulation" are subject to pledge, freeze, or other defects in rights. The prospectus shows that Aoke is a research-driven specialty pharmaceutical company, with core business covering the research and development, production, and commercialization of innovative drugs, focusing on unmet clinical needs in the fields of central nervous system diseases, metabolic diseases, and rare diseases. In terms of core competitiveness, the company has independently developed an innovative drug delivery platform, built an integrated internal system covering research and development, production, sales, and marketing, and established a rich global product pipeline. The company focuses on specific therapeutic areas using the 505(b)(2) registration pathway, leveraging its independently built full-system research and development, production, and commercialization capabilities to achieve operational synergies. According to a Frost & Sullivan report, as of January 22, 2026, the company's flagship product AUC033 product Motpoly XR is the world's first and only once-daily extended-release lacosamide approved by the FDA, while the technological level and research and development progress of the GLP-1 receptor agonist nasal spray are at the forefront globally.