New Stock News: Xihua Technology plans to list in Hong Kong. The China Securities Regulatory Commission requires supplementary explanation on the pricing basis for new shareholders' investment in the last 12 months.

On January 23, the China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Issuance and Listing Record (January 19, 2026 - January 23, 2026)". The International Department of the China Securities Regulatory Commission issued supplementary material requirements to three companies, including Xihua Technology, requiring clarification on the pricing basis for new shareholder investments in the past 12 months. According to the Hong Kong Stock Exchange disclosure on December 3, 2025, Shenzhen Xihua Technology Co., Ltd. filed for listing on the Hong Kong Stock Exchange main board, with CCB International as its exclusive sponsor. The CSRC requested Xihua Technology to supplement the following matters, to be verified by lawyers and to provide clear legal opinions: 1. Please explain the reasons for the inconsistent findings of controlling shareholders in the record materials and the criteria for determining controlling shareholders, and provide a clear conclusive opinion on the determination of controlling shareholders. 2. Please explain the basis and fairness of the pricing for new shareholder investments in the past 12 months, the reasons for differences in the investment prices, their reasonableness, and tax payment status, whether there are abnormal considerations for the investment prices, and provide a clear conclusive opinion on the existence of any benefit transfers. 3. Please explain the progress of the business registration change procedures for the employee shareholding platform. 4. Please explain whether the shares held by the intended "full circulation" shareholders in this offering are subject to pledges, freezes, or other defects in rights. The prospectus shows that Xihua Technology is a provider of end-side AI chip and solution. The company's intelligent display chips and solutions mainly include AIScaler and STDI chips; while intelligent sensing control chips and solutions mainly include TMCU, general MCU, touch chips, and intelligent cabin solutions. The company's products have been adopted by many mainstream automotive OEMs and globally renowned consumer electronics brands. The mass-produced chip product portfolio can meet the different needs of customers in the consumer electronics, automotive, and emerging markets such as intelligent equipment.