New Stock News | Jinying Jia plans Hong Kong IPO, CSRC requires explanation of the reasonableness of the price at which new shareholders have entered in the past year.

On May 15th, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing application disclosure (May 11th, 2026 - May 15th, 2026). The CSRC requested Genuity to provide supplementary explanations regarding the reasonableness of the prices at which new shareholders have entered the company within the past 12 months, as well as the reasons for differences in share prices among different shareholders. They also requested a clear conclusion on whether the prices at which new shareholders have entered the company in the past 12 months are fair and reasonable, and whether there is any transfer of benefits. They were also asked to explain if there are any relationships among shareholders holding less than 5% of the company's shares, and if so, whether the shareholding percentages should be aggregated, and shareholders holding over 5% should undergo a detailed investigation. According to the information disclosed by the Hong Kong Stock Exchange on December 21, 2025, Genuity submitted an application for listing on the HKEX, with Jianyi International and CMBC CAPITAL as its joint sponsors. Additionally, the CSRC requested Genuity to provide a lawyer-verified and clear legal opinion on the following matters: - Explanation of the composition and positions of the equity incentive personnel, relationships between the participants and other shareholders, directors, supervisors, and senior management of the company, as well as whether there are individuals who are legally prohibited from participating in the company's equity incentives; - Fairness of the shareholding prices, agreement provisions, decision-making procedures, and regulatory compliance, and a clear conclusion on whether the company's operations are legal and compliant, and if there is any transfer of benefits. Regarding business operations, Genuity was asked to provide information on: - The company's qualifications for related business operations, and whether the business scope of the company and its subsidiaries comply with the Negative List for Foreign Investment (2024 edition), and whether they continue to meet the requirements of foreign investment policies before and after the IPO and "full circulation"; - Whether the company's drug R&D capabilities and clinical research and transformation involve the field of AI big models or other artificial intelligence fields, and whether they comply with the "Management Measures for Generative AI Services". They were also asked to explain if the shares held by the shareholders participating in the "full circulation" are subject to pledging, freezing, or other defects in rights. They were also requested to provide updates on the progress of the procedures related to the identification of state-owned shares. The prospectus shows that Genuity is a leading precision medical company in China, integrating AI capabilities deeply into various core components of the biomarker value chain. The company is dedicated to accelerating the application of AI-driven multi-omics technologies on a large scale through an innovative framework that combines multi-omics with AI, in order to better serve the increasing unmet medical needs of the growing population of patients in China. According to data from Destinanalysts, based on 2024 revenue, the company ranks third in the market for precision diagnostic solutions in China.