New stock news | Yihong Intelligent plans Hong Kong IPO; CSRC requires explanation on whether shares held by shareholders participating in the "full circulation" are pledged or subject to other such circumstances.

On November 6, the China Securities Regulatory Commission (CSRC) published a public notice of supplementary materials required for overseas offering and listing filings (November 2, 2026 November 6, 2026). The CSRC requires Yihong Intelligent to explain whether the shares held by shareholders participating in the "full circulation" are pledged, frozen, or subject to other rights defects. According to the disclosure by the Hong Kong Stock Exchange on May 29, Yihong Intelligent submitted an application for listing to the Main Board of the Hong Kong Stock Exchange, with GUOTAI JUNAN I and Orient International as its joint sponsors. In addition, the CSRC requires Yihong Intelligent to supplement the following matters, and requires lawyers to verify and issue clear legal opinions: Explain whether there are other equity nominee holdings among the company's existing shareholders and in its historical evolution, including but not limited to the controlling shareholder and actual controller. Please list the names of both parties to the nominee holding arrangement, the proportion of equity held on a nominee basis, the start and end time of the nominee holding, and the method of termination, and, in conjunction with the positions held by the nominee-held party during the nominee holding period, further explain the reasons for the formation of the equity nominee holding, its evolution, its legality and compliance, and whether there are disputes or potential disputes in accordance with the relevant provisions of the "Guidelines for the Application of Regulatory Rules Overseas Offering and Listing No. 2", and whether the nominee-held party was a subject prohibited from holding shares under laws and regulations during the nominee holding period (including whether it violated non-competition provisions), and in conjunction with the above, explain in accordance with Article 8 of the "Trial Measures for the Administration of Overseas Securities Offering and Listing by Domestic Companies" whether the equity held by the controlling shareholder is subject to major ownership disputes and whether there is any tunneling of benefits. Explain the pricing basis for the entry price of new shareholders within 12 months before the company submitted the overseas offering and listing filing application, the reasons for pricing differences and their reasonableness, as well as the income tax payment status of the relevant transferors in the above equity transfer process, and issue a clear conclusive opinion on whether there is any tunneling of benefits. Explain the regulatory system of the industry in which the company operates, the main enterprises in the industry, and the comparison with comparable companies in the same industry in terms of operating conditions, market position, and other aspects. According to the prospectus, based on Frost & Sullivan data, Yihong Intelligent ranked second in China's domestic lithium battery machine vision inspection solutions market by revenue in 2025, and ranked first in the global large-width roll pressing and slitting integrated machine market.