IPO News | Yi Hong Smart's proposed Hong Kong stock IPO, the Securities Regulatory Commission requested clarification on whether the shares held by shareholders who intend to participate in the “full circulation” have been pledged, etc.

The Zhitong Finance App learned that on November 6, the China Securities Regulatory Commission announced the disclosure of supplementary materials for overseas issuance and filing (November 2, 2026 to November 6, 2026). The Securities Regulatory Commission requested Yi Hong Intelligence to explain whether the shares held by shareholders who intend to participate in the “full circulation” have been pledged, frozen, or otherwise flawed. According to the Hong Kong Stock Exchange disclosure on May 29, Yi Hong Smart submitted a listing application to the main board of the Hong Kong Stock Exchange, with Cathay Pacific Junan International and Orient Securities International as co-sponsors.

In addition, the Securities Regulatory Commission requested Yi Hongjie to provide additional explanations on the following matters, and requested a lawyer to check and issue a clear legal opinion:

Indicate the current shareholders of the company and whether there are other shareholder agents in the company's historical history, including but not limited to controlling shareholders and actual controllers. Please list the names of the company's acting holders, the ratio of proxy holdings, the termination time of the proxy holding, and the method of cancellation of the proxy holdings, and further explain the reasons, evolution, legal compliance, whether there are disputes or potential disputes, and whether the proxy holder is prohibited from holding shares under laws and regulations (including whether it violates anti-competition regulations) in accordance with the relevant provisions of the “Guidelines for the Application of Regulatory Rules - Overseas Issuance and Listing Class No. 2”, taking into account the above circumstances Method》 Article 8 stipulates whether there is a major ownership dispute over the shares held by the controlling shareholder, and whether there is a transfer of interests.

Explain the pricing basis for the additional shareholders' share price within 12 months before the company submitted the overseas issuance and listing filing application, as well as the transferor's income tax payment status related to the above equity transfer process, and issue a clear conclusion on whether there is a transfer of benefits. Explain the regulatory system of the company's industry, major enterprises in the industry, and the comparative situation with comparable companies in the same industry in terms of business conditions, market position, etc.

According to the prospectus, according to Frost & Sullivan's data, according to 2025 revenue, Yi Hong Smart ranked second in China's domestic lithium battery machine vision inspection solution market and ranked first in the global large-format roller slitting all-in-one machine market.