New stock news | Yuanjie Semiconductor Technology (688498.SH) plans to go public in Hong Kong. The China Securities Regulatory Commission requires further clarification on whether the changes in share ownership are legal and compliant.

On July 10, the China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Issuance and Listing Application (July 6, 2026 July 10, 2026)". The CSRC International Department issued supplementary material requirements for 7 companies. Among them, Yuanjie Semiconductor Technology (688498.SH) was required to provide explanations on whether there had been instances of shareholding on behalf of others in its history, and to provide clear and definite conclusions on the legality and compliance of each equity change. According to the disclosure on March 25 by the Hong Kong Stock Exchange, Shaanxi Yuanjie Semiconductor Technology Co., Ltd. submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Guotai Haitong and GF SEC as its co-sponsors. The CSRC asked Yuanjie Semiconductor Technology to provide explanations on the following matters and requested lawyers to check and provide clear legal opinions: 1. Please provide explanations on: (1) whether there have been instances of shareholding on behalf of others in the company's history; (2) provide clear conclusions on the legality and compliance of each equity change. 2. The maximum number of shares to be issued in this listing application should be consistent with the filing materials and prospectus. In case of inconsistencies, please provide a modified filing report or prospectus. If there are adjustments to increase the number of shares issued and the amount of funds raised in the prospectus, please also update the fundraising plan. 3. Please explain whether the participants in your company's employee stock incentive plan are company employees, whether there are external participants, whether participants holding incentive shares after leaving the company comply with the terms of the previous agreement, whether there are disputes or potential disputes, and provide clear conclusions on the legality and compliance of the implemented stock incentive plan. 4. Please provide explanations on whether your company and its subsidiaries' business scope and actual operations involve restricted or prohibited areas for foreign investment, and whether the listing and "full circulation" after the offering continue to meet the requirements for foreign investment access. The prospectus shows that Yuanjie Semiconductor Technology is a laser chip supplier dedicated to providing high-reliability, high-speed, large-volume, high-quality delivery laser chip. Its core products include CW laser chips, EML laser chips, and DFB laser chips, covering core scenarios such as AI data centers, 5G communication construction, and fiber optic access. According to the report by Zhuo Shi Consulting, based on the external sales revenue in 2025, the company is the sixth-largest laser chip supplier in the world and the second-largest supplier of silicon high-speed optical interconnect product laser chips globally.