New Stock News | Jia Zhi Technology plans to list on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires supplementary explanations on whether the transfer of equity for zero yuan is fair and reasonable.

The China Securities Regulatory Commission issued the "Supplementary Material Requirements for Overseas Issuance and Listing Record (March 16, 2026 - March 20, 2026)." The International Department of the China Securities Regulatory Commission has issued supplementary material requirements for 8 companies, including a request for Jazhi Technology to provide supplementary explanations on whether the zero transfer of equity transaction price is fair and reasonable, among other matters. It is reported that Jazhi Technology submitted an IPO application to the Hong Kong Stock Exchange Main Board on January 23, 2026, with CICC as the exclusive sponsor. The China Securities Regulatory Commission requested Jazhi Technology to explain the following issues and requested legal confirmation: 1. Please explain (1) the historical occurrence of zero transfer of equity in the company, explain whether the transaction price is fair and reasonable, and provide verification on the authenticity of the transaction; (2) the pricing basis and fairness of the company's third, fourth, eighth equity transfers and sixth capital increase. 2. Please explain (1) the company's charter or agreement provisions regarding employee incentive plans, decision-making process, legality of the employee incentive plan operation; (2) clarifications on the involvement of 31 employees in the equity incentive plan and the delegation to the actual controller Xiong Rong, reasons and legality of the equity delegation; (3) progress on the repurchase of shares held by departing employees Fan Xiaodong and Pan Shengjie; (4) provide a clear conclusion on the legality and compliance of the equity incentive plan and the existence of any benefit transfers. 3. Jointly explain the relationship between Chu Jian, Zhejiang Supcon Technology Co., Ltd., and Central Information, whether the shareholding of the three entities should be combined for calculation, and whether a 5% or more shareholder penetration check should be conducted; (2) provide a complete explanation of the penetration check on Tibet Qingrui. 4. As per the "Regulatory Rule Application Guidance - Overseas Issuance and Listing No. 2" toward the requirements for verifying the newly acquired shareholders in the last 12 months, conduct a verification of the August 2025 investment by Quzhou High Quality. 5. Please explain (1) whether the actual controller Xiong Rong's establishment and control of the company has been approved by Zhejiang University, if not approved, disclose the disposal plan or measures for the company's equity or voting rights, any changes in control due to this situation, potential violations of Article 8 of the Measures for the Administration of Securities Issued by Domestic Enterprises Overseas listed; (2) impact of board delegation powers, special board decision-making powers, and other special shareholder arrangements on control. 6. Please explain the application of the company's AI technology in plain language, whether it involves AI large models, and if so, describe the application scenarios, specific functions, etc. 7. Please explain (1) the specific countries or regions where the company's directors and executives have permanent residency outside of China; (2) the specific compliance of the overseas investments, foreign exchange registration, etc., of the company's 3 overseas subsidiaries, and provide conclusive opinions on compliance; (3) major litigation and arbitration cases of the company, whether they have a significant adverse impact on the company's financial position or business operations, or constitute substantial obstacles to this IPO listing. 8. Please explain (1) the progress of the identification of state-owned shareholders by Yu Huan Guotou; (2) whether shareholders participating in the "full circulation" in this IPO have any pledging, freezing, or other defects in their holdings. According to the prospectus, Jazhi Technology is a global expert in mobile Siasun Robot & Automation technology, dedicated to realizing the full-scene application of Siasun Robot & Automation in different environments, industries, and tasks. According to data from Xiao Shi Consulting, as of January 16, 2026, the company has become one of the top ten global intelligent mobile Siasun Robot & Automation companies based on order volume. In the field of industrial intelligent mobile Siasun Robot & Automation, based on data from Xiao Shi Consulting, the company has become one of the top five global companies and top three companies in China based on order volume.