Recently, Wolong Electric Group Co.,Ltd. received feedback from the China Securities Regulatory Commission (CSRC) regarding its offshore listing filing. The specific feedback is as follows:
First, please explain the reasons for inconsistent results in recognizing the controlling shareholder in the filing materials and the recognition standards, and provide a clear conclusive opinion on the controlling shareholder recognition.
Second, please explain the specific circumstances of share pledging by the controlling shareholder holding your company's shares, and its impact on the control rights and normal business operations of your company and its subsidiaries, and whether it constitutes a situation prohibited from offshore listing under Article 8 of the "Interim Measures for the Administration of Overseas Issuance and Listing of Securities by Domestic Enterprises."
Third, please combine the business and qualification licensing conditions of your company and its subsidiaries to provide a detailed list explaining the actual daily regulatory situation of the competent authorities mentioned in the filing materials, including the names of competent authorities, regulatory areas, business content, product names, and relevant qualification licensing situations.
Fourth, please explain: (1) The specific circumstances of your subsidiaries' business scope including real estate development and sales, whether they actually conduct related business and future business plans, and whether they have obtained necessary qualifications and licenses; (2) After this issuance and listing, the specific foreign investment ratio of Zhejiang Shunyun after penetration, and whether your company and its subsidiaries continue to meet foreign investment access policy requirements after this issuance and listing.
Comments