New Stock News | Nuoling Biotech Plans Hong Kong IPO, CSRC Requires Explanation of Compliance of Implemented Equity Incentive Plans

On June 12, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing (June 8, 2026 June 12, 2026). The CSRC requires Nuolink Bio to explain the compliance of the implemented equity incentive plan, including the specific personnel composition and appointment situation, the existence of relationships between participating personnel and other shareholders, directors, supervisors, and senior management of the issuer, the fairness of the price, the terms of the agreement, the decision-making process, the standardized operation, and issues a clear opinion on the legality, compliance, and potential conflict of interest. The impact of special shareholder rights arrangements on control rights and changes in control rights before and after listing. On February 13, Nuolink Bio submitted a listing application to the Hong Kong Stock Exchange, withBank of China International as the sole sponsor. In addition, the CSRC requires Nuolink Bio to supplement the explanation (1) regarding the company and its subsidiaries' start time, specific content, and licensing situation of value-added telecommunications services, the foreign ownership limit regulations, and the specific basis for continuous compliance with the foreign investment access policy after this issuance and listing. (2) Further explanation of the company's possession of the advertising review permit decision, the relevant exhibition situation, and its relevance to the main business. (3) The specific compliance of overseas subsidiaries' overseas investments, foreign exchange registration, and regulatory procedures, and issue a conclusion on compliance. In addition, explain whether the shares held by shareholders intending to participate in the "full circulation" have been pledged, frozen, or have other defects in rights. The prospectus shows that Nuolink Bio focuses on the research and commercial application of inhaled nitric oxide (iNO) therapy. Leveraging the gas-liquid precision control technology platform, Nuolink Bio has established the capability covering the entire chain of technology from nitric oxide (NO) generation, transmission, detection, storage to clinical application. According to Frost & Sullivan, Nuolink Bio is one of the few companies globally that can independently control the full chain of NO technology and is the only company worldwide with a comprehensive product line covering NO treatment and diagnostic applications.