New Stock News | Ande Medical Plans Hong Kong IPO, China Securities Regulatory Commission Requests Additional Clarification on Historical Capital Increases and the Prices and Pricing Basis for Equity Transfers

On August 21, the China Securities Regulatory Commission (CSRC) released the "Supplementary Material Requirements for Filing of Overseas Issuance and Listing (August 17, 2026 - August 21, 2026)." The International Department of the CSRC issued supplementary material requirements for three companies. Among them, it required Ande Medical to provide additional explanations regarding the pricing and basis for price determination for previous capital increases and equity transfers. It is reported that Ande Medical submitted its listing application to the Hong Kong Stock Exchanges main board on May 15, 2026, with China Securities Co., Ltd. acting as the exclusive sponsor. The CSRC requests the company to provide supplementary explanations on the following matters, and asks the lawyers to conduct verification and provide definitive legal opinions: 1. Please explain: (1) The pricing and basis for price determination for the companys previous capital increases and equity transfers, whether there are any unusual circumstances regarding the shareholding price, whether there are any issues related to the transfer of benefits, whether actual contributions have been made, and whether there are any cases of non-fulfillment of contribution obligations, withdrawal of capital, or defects in the method of contribution; (2) Please provide a conclusive opinion on the legality and compliance of the companys establishment and any previous equity changes, as well as whether there are any entities prohibited from holding shares according to laws and regulations; (3) Please explain the pricing basis for the companys share repurchases and the tax payment situation of the repurchase parties. 2. Please investigate the historical situations of shareholding entrusted by the company in accordance with the requirements related to shareholding trust as per the "Guidelines for Regulatory Rules Usage Overseas Issuance and Listing No. 2," and provide a clear conclusive opinion. 3. Please elaborate on the specific circumstances of the companys previous filing for A-share listing guidance and the reasons for withdrawal; please describe the internal decision-making processes for dividend payments during the reporting period, as well as the execution of regulatory procedures such as tax payments, combining factors such as the company's liabilities and cash flow to explain the rationale for dividend payments and the necessity of the company's current listing financing. The prospectus indicates that Ande Medical is a leading innovative medical consumables provider in China. The company adheres to an innovation-driven strategy, offering comprehensive, high-quality medical consumable solutions to healthcare institutions. According to data from Frost & Sullivan, as of May 8, 2026, Ande Medical ranks second in China based on the number of medical consumable product registration certificates issued by the National Medical Products Administration; the company is among the worlds most comprehensive in vascular access products, ranked among the best based on the number of registration certificates as of May 8, 2026; and in terms of revenue in 2025, the company's drug delivery products rank second in China.