New Stock News | Xinhua Xingang Stock IPO Prospectus Invalid

Chinaway Technologies International Limited (hereinafter referred to as Chinaway) submitted its Hong Kong IPO prospectus on January 24th, which expired after 6 months on July 24th. When submitting the prospectus, CITIC SEC and Daiwa acted as joint sponsors. The prospectus shows that Chinaway is a leading Chinese provider of intelligent software technology services and solutions for the international market. The company has built full-stack intelligent technology capabilities and end-to-end software engineering capabilities, combined with a "onshore-nearshore-offshore" delivery model, and has accumulated rich industry experience in industries, finance, and public utilities. According to Zhaoshi Consulting data, based on the revenue from software technology services and solutions undertaken in 2023, the company is the largest provider of Japanese software technology services and solutions in China. As of September 30, 2024, Chinaway has served over 400 overseas clients, including more than 10 core enterprise group clients, such as Itochu Group, Daiwa Research Institute, NEC Group, Hitachi Group, Nippon Steel Systems Integration, and TIS INTEC Group from various industries in Japan.