New Stock News | Chaos Plans Hong Kong Stock IPO CSRC Requires Supplemental Information on Overseas Subsidiaries of the Company

On May 22, the China Securities Regulatory Commission announced the disclosure of supplementary materials required for overseas issuance and listing filing (May 18, 2026 to May 22, 2026). The China Securities Regulatory Commission has requested further clarification from Kaos regarding the situation of the company's overseas subsidiaries, the specific compliance with regulatory procedures related to overseas investments, foreign exchange registration, etc., and to provide conclusive opinions on compliance. According to the Hong Kong Stock Exchange disclosure on January 30, Kaos Internet of Things Technology Co., Ltd. (referred to as "Kaos") has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and HSBC as its joint sponsors. The China Securities Regulatory Commission has requested Kaos to provide further clarification on the following matters, to be verified by lawyers and to provide clear legal opinions: 1. The company and its subsidiaries are involved in the operation scope of second-class value-added telecommunications business, internet information services, data processing services, big data services, etc., but have not actually conducted related businesses. Please remove this business from the scope of operations and complete the industrial and commercial change registration. 2. Progress of the state-owned shareholder identification and other state-owned asset management procedures for all state-owned shareholders of the company. 3. Please provide a clear conclusive opinion on whether the establishment of the company and the historical changes in equity have been legal and compliant. 4. Provide the pricing basis for the entry of new shareholders in the 12 months prior to the submission of the overseas issuance and listing filing application, the reasons for the difference in pricing for the capital increase during the same period, and the rationality of such differences. Also, provide information on the tax payment by the transferring party in the equity transfer process and provide a clear opinion on whether there is any transfer of benefits. 5. Please explain the specific details and latest developments of any pending lawsuits or arbitrations involving the company and its subsidiaries, whether they constitute significant violations of laws or regulations, and whether they have a significant adverse impact on the company's daily operations and this issuance and listing. 6. In strict accordance with the provisions of Article 8 of the "Administrative Measures for the Issuance of Securities and Listing of Domestic Enterprises Overseas," please explain whether the company and its domestic subsidiaries are subject to any prohibitive circumstances for overseas issuance and listing, and provide clear legal opinions after verification by lawyers. 7. Supplement to explain the situation of the company's overseas subsidiaries, the specific compliance with regulatory procedures related to overseas investments, foreign exchange registration, etc., and provide conclusive opinions on compliance. 8. Supplement to explain whether there are any pledges, freezes, or other defects in the rights of the shares held by the shareholders intending to participate in the "full circulation" in this issuance. The prospectus shows that Kaos is a leading industrial digital product and solution service provider in China, committed to promoting the high-quality development of the manufacturing industry through the integration of advanced technologies such as artificial intelligence, the Internet of Things, and big data with industrial processes. The company has independently developed the COSMOPlat Industrial Internet platform, which integrates technologies such as industrial intelligent software and intelligent body applications, industrial operating systems and industrial brain, physical connectivity systems, and edge computing to provide enterprises with end-to-cloud integrated data intelligence and IoT products and solutions, supporting enterprises in achieving digital transformation. The company's history can be traced back to April 2017, when it was established in China under the name Haier Industrial Holding Co., Ltd., as a limited liability company belonging to the Haier Group.