IPO News | Guoxing Aerospace plans to list Hong Kong stocks, China Securities Regulatory Commission requests additional explanation on matters such as the progress of state-owned shareholder logo processing

The Zhitong Finance App learned that on June 20, the China Securities Regulatory Commission announced the “Requirements for Supplementary Materials for Overseas Issuance and Listing (June 13, 2025 to June 19, 2025)”, and the International Department of the Securities Regulatory Commission issued supplementary material requirements for 7 companies. Among them, Guoxing Aerospace is required to provide additional information on matters such as the progress of processing the company's state-owned shareholder logo, the scope of business and actual business of the company and its subsidiaries, and whether the qualifications and licenses held are involved in areas where foreign investment is restricted or prohibited. According to reports, on January 27, Guoxing Aerospace presented the watch to the main board of the Hong Kong Stock Exchange, and Cathay Pacific Junan International was its sole sponsor.

The Securities Regulatory Commission requested Guoxing Aerospace to further explain the following matters, and ask lawyers to check and issue clear legal opinions:

1. The business scope of your company and its subsidiaries involves advertising production, advertising design agency, and advertisement publishing. Please indicate whether the relevant business is actually carried out and the necessary qualifications have been obtained, and whether the business operation complies with the requirements of the “Notice on Further Carrying Out Internet Advertising Remediation Work” and other regulations.

2. Based on the progress of business adjustments related to your company and its subsidiaries, please explain whether your company's business scope, actual business, qualifications, etc. of your company and its subsidiaries cover areas where foreign investment is restricted or prohibited, and whether it continues to meet the requirements of the foreign investment entry policy before and after this listing and “full circulation”.

3. Please list the details of your company and subsidiary companies holding qualifications such as civil satellite manufacturing, civil remote sensing satellite ground station construction projects, value-added telecommunication business licenses, radio frequency use licenses, radio station licenses, civil space launch project licenses, surveying and mapping qualification certificates, etc., including but not limited to the holder, time of acquisition, licensing authority, license content, validity period, actual usage, etc.

4. Please explain the progress of processing the state-owned shareholder logo.

5. Please refer to the “Guidelines for the Application of Regulatory Rules - Overseas Issuance and Listing Category No. 2: Guidelines on the Contents and Format of Filing Materials” to explain the reasons for the formation, evolution, legal compliance, whether there are disputes or potential disputes, and whether there are any entities prohibited from holding shares directly or indirectly by laws and regulations.

6. Please indicate whether the 5 former employees involved in the employee stock ownership plan were company employees at the time of participation, and whether the 3 external consultants participated in the company's operation and management.

7. Please indicate whether your company and its subsidiaries are involved in the development and operation of products such as apps, applets, public accounts, etc., and whether they are involved in the collection and use of personal information. If so, please indicate the scale of collected and stored user information and data collection and use.

8. Please explain whether the shares held by shareholders who intend to participate in the “full circulation” have been pledged, frozen, or have other rights defects.

According to the prospectus, Guoxing Aerospace is committed to the construction of commercial satellite constellations, building an integrated space-earth AI infrastructure, and providing stable and continuous commercial satellite-based solutions and space-based intelligent computing services with broad coverage, low cost, and low threshold for the world. Since the establishment of the company, it has been the first to focus on exploring the intersection of AI technology and satellite technology. The company has made significant achievements in developing AI satellites and satellite-based solutions, which has promoted innovation and development in the satellite industry.