China Securities Regulatory Commission Releases Additional Requirements for Overseas Listing Filing of Rezco Heat Management, Including Equity Structure and Equity Proxy Matters.

On October 27th, the China Securities Regulatory Commission (CSRC) announced the requirements for supplementary materials for overseas issuance and listing registration (from October 20th to October 26th). The announcement mentioned that Leesonkre Thermal Management (private exchange, already issued a filing notice) is required to provide supplementary explanations regarding the equity structure and equity proxy holding. Specifically, the CSRC announcement pointed out that Leesonkre Thermal Management should provide supplementary explanations on the following matters and have lawyers conduct checks and provide clear legal opinions: 1. Regarding the equity structure, please provide additional explanations: (1) the price of the capital increase and acquisition of the equity of Mu Ge Information, a subsidiary in Hong Kong, as well as the reasons and rationality for the significant difference compared to the equity evaluation value during the same period, tax payment compliance, and whether the reporting obligations specified in the "Administrative Measures for the Reporting of Foreign Investment Information" have been fulfilled; (2) the reasons and compliance of the insufficient registered capital of the main domestic operating entity Mu Ge Information and Leesonkre Electric, and whether it has a significant impact on the company's business operations and debt-paying ability. 2. Regarding equity proxy holding, please provide additional explanations on the reasons and legality of the proxy holding arrangement for the portion of equity held by the actual controller in the domestic operating entity, and whether there are any disputes or potential dispute situations. It is worth noting that on October 23rd, the CSRC's International Cooperation Department issued a filing notice for the overseas issuance and listing of Leesonkre Thermal Management. The company plans to issue no more than 15,333,333 common shares and list on the NASDAQ in the United States. According to information on the official website, Leesonkre Thermal Management is an outstanding manufacturer of cabinet environmental control and has been focusing on ventilation, refrigeration, dehumidification, heat exchange, heating, lighting, and environmental control systems for industrial cabinets since 1990.