Jing Rui Wangpu (JRWP.US) plans to be listed on the US stock market. The China Securities Regulatory Commission requires supplementary explanations on the arrangements or measures for information data protection before and after the listing.

On March 21, the China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Issuance and Listing Registration (March 14, 2025 to March 20, 2025)". The disclosure mentioned that Jing Rui Wang Pu (confidential transfer to public) is required to provide additional information on the main domestic operating entities and their subsidiaries' operations of APPs, mini-programs, and other products, the scale of personal information collection and storage, the use of personal information, whether there is any transfer of data overseas or provision of personal information to third parties, and arrangements or measures for information data protection before and after listing. The company plans to list on the NASDAQ with the stock code JRWP. The CSRC requested the company to provide clarification on the following matters, and requested lawyers to verify and provide clear legal opinions: 1. Please provide clarification on: (1) whether the registered and listed requirements of the issuer's paid-up capital meet the requirements of the registration location and listing location; (2) the conclusion on the compliance of the regulatory procedures for foreign exchange management and foreign investment involved in the establishment of the equity structure, and whether the obligations of foreign investment information reporting have been fulfilled; (3) list the time of investment of indirect shareholders in Zhejiang Jing Rui Wang Pu Full House and their corresponding shareholding ratio at the level of the issuer, and explain the reasons for the inconsistencies in shareholding ratios, the risks of control stability, default of related parties, and corresponding measures that may arise; (4) the pricing basis for the equity transfer of Yangxin Hongtai Trading in April 2023 and whether tax declarations have been made for the equity transfer. 2. Please provide clarification on: (1) the existence of shareholding proxy holders in multiple major domestic operating entities of the company, the reasons for their formation, evolution, legality, compliance, existence of disputes or potential disputes, and whether there are shareholders or actual shareholders prohibited by laws and regulations; (2) the business scopes of multiple domestic operating entities involve market surveys, please explain whether such operations are actually carried out, and if so, whether the necessary qualifications have been obtained. 3. Please explain: why and the necessity for, in February 2024, the agreement control arrangement to include the businesses of Dongying Yiqun Trading, Zibo Lunsheng Trading, Jinan Zhongyueshengtai Trading, and Yangxin Hongtai Trading under the issuer's overall structure, where the operating scopes do not involve foreign investment access restrictions or prohibited areas. 4. Please provide clarification on: (1) the products of the main domestic operating entities and their subsidiaries, including APPs, mini-programs, public accounts, and websites, the scale of personal information collected and stored, the use of personal information, whether there is any transfer of data overseas or provision of personal information to third parties, and arrangements or measures for information data protection before and after listing; (2) specific plans for future value-added telecommunications business, relevance to the main business, specific business qualifications required, and relevant foreign investment access policy regulations. 5. Please provide clarification on: the number of shares to be issued, the proportion of the total issued capital after the issuance, the expected amount of funds to be raised (if any), changes in the equity structure before and after the issuance, and whether the controlling shareholder and actual controller will change after this issuance. According to the information, Jing Rui Wang Pu wholesales and retails a variety of electrical products through its operating entities in China. Its products include air conditioners, refrigerators, televisions, washing machines, dryers, and dishwashers, among others.