Pangxing Digital Responds to the Failure of its Prospectus: Listing in Hong Kong Proceeding in an Orderly Manner.

On July 24th, according to information from the Hong Kong Stock Exchange, Panxing Intelligence first submitted its listing application on January 24th, 2025. However, the application is currently in a expired state. In response, a staff member in Panxing Intelligence's securities department told a reporter from the Securities Times that the failure of the prospectus is part of the normal process mechanism of the Hong Kong Stock Exchange, and does not mean a termination or suspension of the listing. Panxing Intelligence is orderly advancing various tasks related to its Hong Kong listing and will submit updated data to the Hong Kong Stock Exchange. According to the Hong Kong Stock Exchange's IPO process regulations, the validity period of the prospectus submitted by a company is 6 months. If the listing hearing or listing process is not completed within the stipulated 6-month period, the prospectus will automatically expire, and the company will need to resubmit the application after updating the data.