New Stock News | Qingtian's Full Tax Pass is planning a Hong Kong IPO. The China Securities Regulatory Commission requires detailed description of whether the company's business involves large AI models.

On January 30th, the China Securities Regulatory Commission (CSRC) announced the requirements for supplementary materials for overseas issuance and listing filings (January 26, 2026 - January 30, 2026) to be made public. The CSRC requested Qingshi Quanshuitong to provide a detailed description of whether the company's business involves AI large models, including application scenarios, specific functions, etc. According to the disclosure by the Hong Kong Stock Exchange on October 17, 2025, Qingshi Quanshuitong submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC and ICBC International as its joint sponsors. At the same time, the CSRC requested Qingshi Quanshuitong to provide further explanations on the following matters, for legal counsel to verify and provide clear legal opinions: Explain the reasons for any inconsistencies in the identification results of the controlling shareholder in the filing materials, as well as the criteria for identification, and provide a definitive conclusion on the identification of the controlling shareholder. In accordance with the "Guidelines for Regulatory Rules Application - Overseas Issuance and Listing No. 2: Guidelines for Filing Materials Content and Format," (1) provide a detailed explanation of the discrepancies in the issuance and listing plan, filing materials, and prospectus regarding the issuance and listing plan; (2) explain the specific situation and progress of major litigation involving the company and its subsidiaries. Provide specific details on whether the company and its subsidiaries are involved in designing, producing, and respectively releasing various types of domestic advertisements, as well as data processing, storage support services, and internet data services, whether such businesses are actually being conducted and necessary qualifications and permits obtained, and provide a definitive conclusion on whether the company and its subsidiaries' business scope, actual operations, and qualifications involve restrictions or prohibitions on foreign investment. Explain whether the company and its subsidiaries are involved in developing, operating websites, mini-programs, apps, official accounts, etc., whether they provide information content to third parties, the types of information content provided, information content security measures; also explain the scale of user information collected and stored, data collection and usage, arrangements or measures for personal information protection and data security before and after listing. Explain whether there are cases where the shares held by the shareholders planning to participate in the "full circulation" are pledged, frozen, or have other defects in rights. The prospectus shows that Qingshi Quanshuitong is a leading Chinese cross-border enterprise digital professional service provider, dedicated to providing multi-dimensional digital solutions for cross-border enterprises engaged in import and export trade. According to Frost & Sullivan data, in 2024, Qingshi Quanshuitong ranked first in the Chinese cross-border enterprise intelligent tax and financial solution market (based on revenue), with a market share of 1.7%, and second in the Chinese cross-border enterprise financial and tax digital solution market (based on revenue), with a market share of 1.2%.