New Stock News | Yundong Intelligent Plans Hong Kong IPO CSRC Requires Supplemental Explanation of the Reasonableness of the Shareholder's Investment Price in the Last 12 Months.

On April 3, the China Securities Regulatory Commission announced the requirements for the disclosure of supplementary materials for overseas issuance and listing (March 30, 2026 - April 3, 2026). The CSRC requested YunDong Intelligent to provide further explanations on the reasonableness of the prices at which new shareholders have entered the company in the past 12 months, among other issues. According to a disclosure by the Hong Kong Stock Exchange on January 19, Hangzhou YunDong Intelligent Automotive Technology Co., Ltd. ("YunDong Intelligent") submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC as its sole sponsor. The CSRC requested YunDong Intelligent to provide additional explanations on the following matters and requested legal counsel to verify and provide clear legal opinions: 1. Please provide further explanations on the reasonableness of the prices at which new shareholders have entered the company in the past 12 months, the reasons for the differences in these prices, and whether there is a situation of interests being transferred. 2. Please provide further explanations on the compliance of the company's implemented equity incentive plans, including the specific composition and positions of individuals involved, the relationships between participating individuals and other shareholders, directors, supervisors, senior management personnel of the issuer, the fairness of the pricing, the terms of the agreements, the implementation of decision-making procedures, the regulatory compliance, and whether there is any conclusive opinion on legality, compliance, and the existence of interest transfers. 3. Please provide further explanations on whether the shares held by shareholders participating in the "full circulation" this time have any pledges, freezes, or other defects. 4. Please provide further explanations on whether the company and its subsidiaries are involved in the development and operation of apps, mini-programs, public accounts, and other products, whether they involve the collection and use of personal information, and if so, please explain the scale of information collected and stored and the data collection and usage. The prospectus shows that according to a Frost & Sullivan report, YunDong Intelligent is the third largest Chinese domestic car TRANSPORT INT'L solution provider (market share: 7%), based on the shipment volume of 4G in-vehicle network control units as of December 31, 2024. YunDong Intelligent's 4G car TRANSPORT INT'L solution ranks first among all domestic suppliers (market share: 7.8%).