New stock news | Xinde Technology plans to list in Hong Kong, and the China Securities Regulatory Commission requires additional information on the rectification situation after being punished for colluding in bidding and whether it constitutes a major violation of laws and regulations.

On June 5th, the China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Issuance and Listing Registration (June 1, 2026 - June 5, 2026)". The International Department of the China Securities Regulatory Commission has issued supplementary materials requirements to 10 companies. Among them, Xinde Technology is required to provide further explanations on the rectification situation after being prohibited from participating in military procurement activities due to bid rigging, and whether it constitutes a major illegal act. According to the disclosure by the Hong Kong Stock Exchange on February 16th, Xinde Technology has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Guoyuan International and Zhongtai International as its joint sponsors. The China Securities Regulatory Commission has requested Xinde Technology to provide further explanations on the following matters, and to have lawyers review and provide clear legal opinions: 1. Please explain the pricing basis for your company's capital increases and equity transfers, whether the paid-up capital has been made, whether there are any instances of failure to fulfill capital contributions, diversion of capital, or defects in the method of contribution, and provide clear and conclusive opinions on the legality and compliance of past equity changes. 2. Regarding shareholders: (1) Please provide basic information on other shareholders holding more than 5% of the shares, as required by the "Guidelines for the Application of Regulatory Rules - Overseas Issuance and Listing Class 2"; (2) Please explain the reasonableness of the prices at which new shareholders have entered in the past 12 months, reasons for differences in these prices, and provide clear and conclusive opinions on whether there is any improper transfer of benefits. 3. Conduct a review of the fair pricing and proper operation of employee share ownership plans as required by the "Guidelines for the Application of Regulatory Rules - Overseas Issuance and Listing Class 2", and provide clear and conclusive opinions on the existence of any improper transfer of benefits or legality and compliance. 4. Regarding operational compliance: (1) Please explain the administrative penalties faced by your company and its subsidiaries for using unregistered land, as well as the rectification after being banned from military procurement activities for 3 years due to bid rigging in procurement, whether it constitutes a major illegal act and has a significant adverse impact on your company's daily operations and this issuance and listing; (2) Please explain the progress of the registration procedures for the real estate properties of your company and its subsidiaries, as well as the latest developments in litigation cases, whether they have a significant adverse impact on daily operations or constitute substantial obstacles to this issuance and listing. 5. Please explain whether there are any defects such as pledges, freezes, or other rights issues in the shares held by shareholders planning to participate in the "full circulation". 6. Please explain the specific situation of the pre-listing counseling filing and submission of the A-share listing application by your company, whether there are plans to continue with the A-share listing and specific arrangements, and whether there are any significant impacts on this issuance and listing. According to the prospectus, Xinde Technology was established in 1999 and is a leading animal health company in China, mainly engaged in the research, development, production, and sales of a full range of animal health and related products, including veterinary biological products, traditional Chinese veterinary medicine, chemical drug formulations, feed and additives, etc.