Shanghai Longcheer Technology Receives CSRC Feedback on Hong Kong Stock Listing, Required to Clarify Medical Device Business Compliance and Operations

Deep News09-08

Recently, Shanghai Longcheer Technology Co.,Ltd. received feedback from the China Securities Regulatory Commission regarding its overseas listing filing, with specific feedback as follows:

Please provide supplementary explanations regarding the actual operational status of Class I, II, and III medical device production, Class I and II medical device sales, and Class III medical device operations included in the business scope of your company and subsidiaries. Please clarify whether corresponding qualifications have been obtained and whether these activities involve areas covered by the "Foreign Investment Access Special Management Measures (Negative List) (2024 Edition)". Additionally, please provide supplementary explanations on whether the business scope of your subsidiary companies involves areas covered by the "Foreign Investment Access Special Management Measures (Negative List) (2024 Edition)".

In fact, Shanghai Longcheer Technology Co.,Ltd. just went public on the A-share market in March 2024, raising 1.56 billion yuan. The company's plan to seek funding on the Hong Kong stock market just over a year after its A-share listing has drawn widespread market attention. As of the end of the first quarter of 2025, Shanghai Longcheer Technology Co.,Ltd. had 78.78 billion yuan in monetary funds and 13.49 billion yuan in trading financial assets, totaling 92.27 billion yuan, while interest-bearing liabilities amounted to 30.73 billion yuan during the same period. Currently, Shanghai Longcheer Technology Co.,Ltd.'s broad monetary funds not only fully cover long-term and short-term interest-bearing liabilities but also provide tens of billions of yuan in disposable cash. The company recently plans to use no more than 5 billion yuan for cash management and purchasing wealth management products.

According to available information, Shanghai Longcheer Technology Co.,Ltd. is a technology enterprise engaged in intelligent product research and development, production and manufacturing, and comprehensive services. The company has deeply cultivated the intelligent product ODM industry, forming an intelligent product portfolio that covers smartphones, tablets, and AIoT products.

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