New stock news | Gan Zhi Cao plans to list on the Hong Kong stock exchange. The China Securities Regulatory Commission requires supplementary information on the pricing basis for previous capital increases and equity transfers.

On July 3, the China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Issuance and Listing (June 29, 2026 - July 3, 2026)". The International Department of the China Securities Regulatory Commission issued supplementary material requirements for 7 companies. Among them, Ganzhi Cao was required to provide additional information on the pricing basis for each capital increase and equity transfer, as well as the historical shareholding structure. According to the disclosure by the Hong Kong Stock Exchange on January 27, Hangzhou Ganzhi Cao Technology Co., Ltd. (referred to as Ganzhi Cao) submitted an IPO application to the Hong Kong Stock Exchange Main Board, with China Securities Co., Ltd. International and Shenwan Hongyuan Group (Hong Kong) serving as its joint sponsors. The China Securities Regulatory Commission requested Ganzhi Cao to provide clarifications on the following matters and to provide legal opinions from lawyers: 1. Please provide clarification on whether there are abnormal stock entry prices, benefits transfer, actual capital contribution, failure to fulfill capital contribution obligations, capital evasion, or flaws in capital contribution methods in each capital increase and equity transfer in the company. Also, clarify if there were shareholding proxies in the company's history. Provide conclusive opinions on the legality of the establishment and changes in equity, the company's legal entity status, and its valid existence. 2. Please provide clarification on the pricing basis for new shareholders' entry prices in the 12 months prior to the submission of the application for overseas issuance and listing, whether it is fair, the tax payment situation of transferring parties in equity transfer, and provide a conclusive opinion on the existence of benefits transfer. Also, provide information on the voting rights controlled by shareholders who have signed a joint action agreement. 3. Please provide information on whether participants in the employee stock incentive plan are company employees, their specific composition and positions, the relationships between participants and other shareholders, directors, supervisors, or senior executives, and the reasons, backgrounds, pricing, basis for pricing, and funding sources for external participants. Explain if there are reserved or unallocated shares in the employee stock ownership platform. 4. With multiple traditional Chinese medicine clinics and internet hospitals, please explain in detail the business scope and restrictions or prohibitions on foreign investment in the company and its subsidiaries, the foreign ownership percentage before and after the IPO and "full circulation," and whether it continues to meet foreign investment access requirements. 5. Please provide clarification on whether there are any pledges, freezes, or other defects in the shares held by shareholders who plan to participate in the "full circulation". According to the prospectus, the company is a leading online traditional Chinese medicine comprehensive service provider in China driven by digital intelligence. The company, with online traditional Chinese medical treatment services as its core, has developed into a digital traditional Chinese medicine full industry chain service provider that includes traditional Chinese medical treatment services, traditional Chinese medical institutions, and traditional Chinese health products.