New Stock News | ReLink Group Plans Hong Kong IPO, China Securities Regulatory Commission Requires Supplementary Explanation on Progress of State-Owned Shareholders Identifying State-Owned Share Labels.

On June 12th, the China Securities Regulatory Commission (CSRC) announced the "Supplementary Materials Requirements for Overseas Issuance and Listing Filing (June 8, 2026 - June 12, 2026)". The CSRC International Department requested supplementary materials from 12 companies. Among them, Rilian Group was required to provide additional information on the progress of the company's state-owned shareholder identification process. According to the Hong Kong Stock Exchange disclosure on February 9th, Hangzhou Rilian Group Co., Ltd. (referred to as Rilian Group) submitted a listing application to the Main Board of the Hong Kong Stock Exchange, with CICC as its exclusive sponsor. The CSRC requested Rilian Group to provide clarification on the following matters and requested lawyers to verify and provide clear legal opinions: 1. The pricing basis for each capital increase and equity transfer transaction, whether the capital has been paid in, whether there are instances of failing to fulfill capital contribution obligations, capital diversion, or flaws in the contribution method, and to provide a clear conclusion on the legality and compliance of each equity change. 2. Please explain the progress of the state-owned shareholder identification process of the company. 3. Please provide information on whether the issuer and its subsidiaries belong to the "high energy-consuming" and "high-emission" industries, verify if existing, under construction, and planned projects fall under the category of "high energy-consuming" and "high-emission" projects, and provide relevant evidence. 4. Please further explain the company's related party transactions, and the independence in terms of personnel, business, assets, finances, etc., whether such circumstances could significantly adversely affect the company's future operations, and whether they could pose substantial obstacles to the current issuance. 5. Please explain whether there are any defects such as pledges, freezes, or other rights on the shares held by the shareholders participating in the "full circulation" in this offering. The prospectus disclosed that Rilian Group is a leading domestic global commodity industry service provider and trader. The company procures and sells over 285 types of physical goods, including ferrous metals and raw materials, chemicals, non-ferrous metals, and other categories. According to data from Frost & Sullivan, based on trading volume in 2024, the company is the fifth largest global commodity industry service provider and trader in China, the fourth largest in the steel industry service provider and trader, the second largest in steel exports, the third largest in iron ore industry service provider and trader, and the third largest in rubber industry service provider and trader.