IPO News | Jingcun Technology's Hong Kong stock IPO and “full circulation” of domestic unlisted shares were registered by the China Securities Regulatory Commission

The Zhitong Finance App learned that on October 23, the International Cooperation Department of the China Securities Regulatory Commission issued the “Notice on the “Full Circulation” of Overseas Issuance and Domestic Unlisted Shares of Shenzhen Jingcun Technology Co., Ltd. The company intends to issue no more than 13,053,800 overseas listed common shares and list them on the Hong Kong Stock Exchange. The 40 shareholders of the company intend to convert a total of 102,160,000 domestic unlisted shares into overseas listed shares.

According to the prospectus, Crystal Storage Technology is a leading independent manufacturer of embedded storage products in mainland China. It mainly focuses on R&D, design, testing (as an important part of the production process) and sales of embedded storage products and other storage products. Standalone memory vendors are semiconductor memory vendors that do not operate their own storage fab, but instead purchase wafers from external sources. They use their own design, packaging, or testing capabilities to integrate externally sourced wafers and other components to provide diverse storage products.