New stock news | HozTech plans to list on the Hong Kong stock exchange. The China Securities Regulatory Commission requires an explanation on the situation of controlling shareholders' equity held by representatives.

On June 26, the China Securities Regulatory Commission released the "Supplementary Material Requirements for Overseas Issuance and Listing Registrations (June 15, 2026 June 26, 2026)". Among them, the requirement for He Xia Technology to explain the situation of shareholding by the former controlling shareholder, including listing the names of the parties involved in the shareholding, the shareholding percentage, the start and end dates of the shareholding, and whether there is a significant ownership dispute in the shares held by the controlling shareholder. According to the Hong Kong Stock Exchange disclosure on February 10, Zhejiang He Xia Technology Co., Ltd. submitted an application for listing on GEM of the Hong Kong Stock Exchange, with Jinlian Capital as its exclusive sponsor. The China Securities Regulatory Commission requested He Xia Technology to provide further explanations on the following matters, and requested lawyers to conduct verification and issue clear legal opinions: 1. Please provide further explanations on: (1) whether there have been abnormal share issuance prices and pricing bases in your company's previous capital increases and share transfers, whether there has been any related-party transactions, whether the capital has been paid in full, whether there have been failures to fulfill capital obligations, capital diversion, or any flaws in the capital contribution method; (2) Please provide a conclusive opinion on whether your company's establishment and previous changes in shareholding are legal and compliant, and on your company's legal status and valid existence. 2. Please provide further explanations on the pricing basis for new shareholder acquisitions in the 12 months before the submission of the overseas issuance and listing application, the reasons for the differences in pricing compared to capital increases during the same period, and the tax payments made by the transferors in the share transfer process, and issue a clear conclusion on whether there is any related-party transaction. 3. Please provide further explanations on whether there are reserved or unallocated shares in the employee shareholding platform, whether employees still hold incentive shares after leaving, whether it complies with the relevant agreements, and whether there are any disputes or potential disputes. 4. As your company's controlling shareholder once had a situation of shareholding by proxy, please list the names of the parties involved in the proxy holding, the percentage of shares held by the proxy, the start and end dates of the proxy, the method of terminating the proxy, the reasons for the proxy holding, the evolution of the proxy holding, the legality and compliance, whether there are any disputes or potential disputes, whether the proxy holder during the proxy period is subject to any legal provisions prohibiting shareholding (including violation of non-compete provisions). Also, in accordance with Article 8 of the Measures for the Administration of Domestic Enterprises' Overseas Issuance of Securities and Listing, explain whether there is a significant ownership dispute in the shares held by the controlling shareholder. 5. Please provide further explanations on whether your company and its subsidiaries' business scope and actual operations involve restricted or prohibited areas for foreign investment, and whether this issuance and listing, as well as "full circulation" compliance, continue to meet the requirements for foreign investment access. 6. Please provide further explanations on whether there are any pledged, frozen, or other defects in the rights of the shares held by shareholders planning to participate in the "full circulation". The prospectus shows that He Xia Technology mainly provides automotive testing services to car manufacturers, with core businesses covering automotive testing, testing system integration, and automotive component sales. According to the Frost & Sullivan report, the company has become a leading provider of automotive testing solutions in Zhejiang Province, with testing facilities covering Zhejiang, Hubei, Jiangsu, Guangdong provinces, and Shanghai. The company's testing services include testing of new internal combustion engine vehicles, new energy vehicles and their components, and expanded to ADAS testing since 2022, with over 430 main testing machinery and equipment as of February 3, 2026.