Recently, Gigadevice Semiconductor Inc. received feedback from the China Securities Regulatory Commission (CSRC) regarding its overseas listing filing. The specific feedback is as follows:
First, please explain the establishment of your company's predecessor Gigadevice Limited and the changes in share capital and shareholders since its establishment.
Second, regarding business operations: (1) Please supplement the legal opinion with information about your company and domestic subsidiaries' business conditions and standardized operations in accordance with "Regulatory Rule Application Guidelines - Overseas Issuance and Listing Category No. 2," and provide clear conclusive opinions on whether your company and domestic subsidiaries have circumstances that would significantly adversely affect this issuance and listing. Currently, only the main subsidiaries' situations have been verified and explained; (2) Your company and some domestic subsidiaries' business scope includes technology export business. Please explain the development and compliance of technology export business in the past three years, and whether there are any cross-border technology transfers.
Third, please strictly compare your company against the provisions of Article 8 of the "Interim Measures for the Administration of Overseas Securities Issuance and Listing by Domestic Enterprises" to explain whether there are any prohibitive circumstances for overseas issuance and listing. Please have lawyers verify and issue clear legal opinions.
This information is for reference only and does not constitute investment advice. Investors should bear their own risks when making investment decisions based on this information.
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