New Stock News | China's Zhongyin Microelectronics Plans to List on the Hong Kong Stock Exchange. The China Securities Regulatory Commission has requested additional information on the compliance of employee stock incentive schemes.

On May 22nd, the China Securities Regulatory Commission announced the disclosure of additional materials required for overseas issuance and listing filing (May 18, 2026 - May 22, 2026). The CSRC International Department has issued supplementary material requirements for 17 companies, including a request for Zhongyin Microelectronics to provide further explanation on the compliance status of employee stock incentive schemes. It is reported that Zhongyin Microelectronics submitted its application to the Hong Kong Stock Exchange on March 29, 2026, with Ping An Securities (Hong Kong) as its exclusive sponsor. The CSRC has requested Zhongyin Microelectronics to provide clarification on the following matters and asks lawyers to verify and provide clear legal opinions: 1. Please explain: (1) whether the recent entry of new shareholders in the past 12 months is fair and reasonable in terms of pricing, and whether there is any conclusive opinion on the existence of benefits transfer; (2) whether the implementation of employee stock incentives is legal and compliant, and whether there is any conclusive opinion on the existence of benefits transfer; (3) the impact of special shareholder rights arrangements on control rights, and whether there have been any changes in control rights before and after listing; (4) in accordance with the "Regulatory Application Guidelines - Overseas Issuance and Listing No. 2", further explain the basis for determining the controlling shareholders and actual controllers. 2. Please explain: (1) as your company is registered as a customs consignee for import and export goods, please further elucidate the situation of cross-border business operations and whether the necessary qualifications and licenses have been obtained; (2) the status of business qualification licenses obtained by your company's main domestic operating entities; (3) based on the matching of major customers and suppliers, product functions, pricing basis, specific application scenarios, revenue scale, and industry status during the reporting period, further explain your company's business operating model and core competitiveness. 3. Please explain: whether the shares held by the shareholders intending to participate in the "full circulation" plan have any encumbrances, freezes, or other defects. The prospectus shows that the company is a leading domestic platform-based custom chip service provider in China, focusing on the research and commercialization of AI ASICs. The company's customized AI ASICs can solve data transmission bottlenecks, achieve efficient interconnection of large-scale AI chip clusters, and maximize computing power utilization in artificial intelligence applications. According to Zhishi Consulting data, based on the revenue of AI ASICs in 2025, the company ranks third among domestic chip custom service providers in China, and based on the revenue of chip design and delivery in 2025, the company ranks second among domestic chip custom service providers in China.