New stock news | Jiuwu Intelligent plans to go public on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires additional clarification on whether there are any related relationships among shareholders holding less than 5% of the shares.

The China Securities Regulatory Commission issued the "Supplementary Material Requirements for Overseas Issuance and Listing Approval (June 8, 2026 - June 12, 2026)". The International Department of the China Securities Regulatory Commission issued supplementary material requirements to 12 companies. Among them, Jiawu Intelligent is required to provide supplementary explanations on whether there are related relationships between shareholders holding less than 5% of the shares, and the reasonableness of the share price for new shareholders entering the company in the past 12 months. According to a disclosure by the Hong Kong Stock Exchange on January 19th, Suzhou Jiawu Intelligent Technology Co., Ltd. (referred to as Jiawu Intelligent) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and Citigroup as joint sponsors. The China Securities Regulatory Commission requested Jiawu Intelligent to provide explanations on the following matters, and requested lawyers to conduct verification and provide clear legal opinions: 1. Please explain whether there are related relationships between shareholders holding less than 5% of the shares, and if so, whether the shareholding proportions should be combined, and shareholders holding more than 5% should be subjected to a thorough investigation. 2. Please explain: (1) the reasonableness of the share price for new shareholders entering the company in the past 12 months, and reasons for any differences compared to other shareholders; (2) provide clear concluding opinions on whether the share price for new shareholders entering the company in the past 12 months is fair and reasonable, and whether there is any transfer of benefits. 3. Please explain the composition and positions of your company's equity incentive personnel, whether there are related relationships between participating personnel and other shareholders, directors, supervisors, senior management personnel of your company, and whether there are individuals who are clearly prohibited by laws, regulations and relevant state regulations from participating in corporate equity incentives. Additionally, provide clear concluding opinions on the fairness of the share price, agreement terms, decision-making procedures, and whether the operation is legal and compliant, and whether there is any transfer of benefits. 4. Please explain the complete and specific content of the special shareholder rights arrangements, the specific conditions of termination clauses, the decision-making procedures for implementation, whether all shareholders have reached a consensus, whether there are disputes, and whether there are any substantial obstacles to the overseas issuance and listing in this case. 5. Please explain: (1) the business qualifications obtained by the issuer, and combined with the "Special Management Measures for Foreign Investment Access (Negative List)" (2024 version) to explain whether the business and business scope of the issuer and its subsidiaries are subject to restrictions or prohibitions in the negative list for foreign investment access, and whether the issuance and listing this time and the "full circulation" before and after continue to meet the requirements of the foreign investment access policy. (2) Please describe in simple terms the business model of the issuer and its subsidiary companies, the business scope and actual operations of the issuer and its subsidiary companies. (3) Please describe in simple terms whether the issuer's business involves AI large models, and if so, provide specific details, including application scenarios, specific functions, whether it complies with the "Management Measures for Generative Artificial Intelligence Services", and whether the large models have been filed. 6. Please explain whether there are any defects such as pledging, freezing or other rights in the shares held by the shareholders who are planned to participate in the "full circulation". According to the prospectus, Jiawu Intelligent is a leading company in the intelligent body industry Siasun Robot&Automation in China. According to Frost & Sullivan's data, based on the revenue of the Siasun Robot&Automation solutions in the intelligent body industry in 2024, the company ranks second in China with a market share of 5.9%. With its independently developed full-stack Siasun Robot&Automation technology and deep industrial domain expertise, the company is mainly engaged in designing, developing, and deploying intelligent body industry Siasun Robot&Automation with sensing, decision-making, and interaction capabilities in the industrial field. Jiawu Intelligent is a pioneer in the intelligent body industry Siasun Robot&Automation solutions industry in China. In 2018, the company developed the JOSSiasun Robot&Automation operating system, which according to Frost & Sullivan's data, is one of the first systems in the intelligent body industry Siasun Robot&Automation solutions industry in China to integrate perception, motion control, and planning, allowing Siasun Robot&Automation to adapt to different tasks. The launch of JOS has established a complete technical support system, enabling the deployment and commercialization of intelligent body industry Siasun Robot&Automation on a large scale in multiple fields. The company is one of the few suppliers to design intelligent body industry Siasun Robot&Automation for clean energy technology, electronics and semiconductors, optical modules, and other fields. With its first-mover advantage, based on the revenue generated by the Siasun Robot&Automation solutions in the intelligent body industry in 2024, the company ranks first in the field of clean energy technology in China and fourth in the field of electronics and semiconductors.