New stock news | Daheing Science and Technology plans Hong Kong IPO. China Securities Regulatory Commission requires additional clarification on the legitimacy and compliance of controlling shareholder's equity.

On April 11, the China Securities Regulatory Commission (CSRC) issued the "Requirements for Supplementary Materials for Overseas Issuance and Listing Application Disclosure (April 3, 2025 to April 10, 2025)", and the CSRC's International Department issued supplementary material requirements for 7 companies. The disclosure mentioned that Da Hang Ke Gong was required to provide further explanation on the legality and compliance of the actual controller's equity proxy holding, as well as whether there are significant ownership disputes in the equity held by the controlling shareholder. According to the Hong Kong Stock Exchange disclosure on January 20, Da Hang Ke Gong submitted an application to the Hong Kong Stock Exchange Main Board, with China Securities Co., Ltd. International serving as its exclusive sponsor. The CSRC requested the company to provide clarification on the following matters, and requested lawyers to verify and provide clear legal opinions: Please further explain the formation reasons, legality and compliance of the actual controller's equity proxy holding, whether there are disputes or potential disputes, and whether the proxy holder during the proxy holding period belongs to a subject prohibited from holding shares by laws and regulations (including whether it violates non-competition provisions) in accordance with the relevant provisions of the "Regulatory Rules Applicable Guidelines - Class 2 Overseas Issuance and Listing". Combining the above situation, explain whether there are significant ownership disputes in the equity held by the controlling shareholder in accordance with Article 8 of the "Trial Measures for Domestic Enterprises' Overseas Issuance of Securities and Listing Management". The prospectus shows that Da Hang Ke Gong is a globally leading and rapidly expanding folding bicycle company. The Dahang brand is one of the most representative brands in the folding bicycle industry, aiming to create sustainable urban transportation solutions through innovative engineering technology. According to data from Bright Consultancy, based on retail sales volume in 2023, the company ranks first in both the Chinese mainland and global folding bicycle industries, with market shares of 21.1% and 5.6% respectively.