New Stock News | Moving Core Communication Plans Hong Kong IPO CSRC requires additional explanations of historical capital increases and pricing basis for equity transfers.

On May 8, the China Securities Regulatory Commission announced the disclosure of supplementary materials for overseas issuance and listing (April 27, 2026 - May 8, 2026). Among them, the CSRC requested that Movingchip Communication provide additional clarification on issues such as the pricing basis for each capital increase and equity transfer, etc. According to the disclosure by the Hong Kong Stock Exchange on November 30, 2025, Shanghai Movingchip Communication Technology Co., Ltd. (referred to as Movingchip Communication) submitted an application to the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as its exclusive sponsor. The CSRC requested Movingchip Communication to provide clarification on the following matters and to have lawyers verify and provide clear legal opinions: 1. The basis for each capital increase and equity transfer pricing, whether the capital has been paid in, whether there are any situations of failure to fulfill capital contribution obligations, capital embezzlement, or flaws in the capital contribution method, and provide a clear conclusive opinion on the legality and compliance of each equity change. 2. Progress of the state-owned shareholder in fulfilling the state-owned share identification and other state-owned asset management procedures. 3. In accordance with the "Applicable Guidelines for Regulatory Rules - No 2 Category of Overseas Issuance and Listing" requirements, explain the penetration verification of major shareholders holding above 5%, and whether the domestic institutions or individuals after the penetration of foreign shareholders have completed procedures such as foreign investment registration and foreign exchange registration. 4. In accordance with the "Applicable Guidelines for Regulatory Rules - No 2 Category of Overseas Issuance and Listing" requirements, explain the nationality of the issuer's directors and senior management personnel and whether they have other permanent residence rights overseas. 5. The contents related to the issuance plan in the filing materials and prospectus should be consistent, please explain the issuance plan for this issue in accordance with the "Applicable Guidelines for Regulatory Rules - No 2 Category of Overseas Issuance and Listing". 6. Please explain whether the shares held by shareholders intending to participate in the "full circulation" have any defects such as pledge, freeze, or other rights. The prospectus shows that Movingchip Communication is a provider of cellular communication chip, focusing on the research, development, architecture, and commercialization of cellular communication chips, enabling devices to communicate through cellular LTE/5G networks. The company's chip product matrix covers low, medium, and high-speed wireless transmission domains, with a unique advantage of optimizing "PPA (power consumption, performance, area/cost) balance".