New Stock News | Xizi Health Plans to List on Hong Kong Stock Exchange, China Securities Regulatory Commission Requires Supplemental Information on Equity Incentive Personnel Situation, Etc.

On May 22, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing applications (from May 18, 2026, to May 22, 2026) to be made public. The International Department of the China Securities Regulatory Commission has issued supplementary material requirements for 17 companies, including a requirement for Xizi Health to provide supplementary explanations on the composition and positions of equity incentive personnel, and whether there are any related party relationships among shareholders holding less than 5% of the shares. It is reported that Xizi Health submitted its application to the Hong Kong Stock Exchange on January 8, 2026, with CITIC SEC as its exclusive sponsor. The China Securities Regulatory Commission has requested Xizi Health to provide clarification on the following matters and to have a lawyer verify and provide clear legal opinions: 1. Please explain whether there are any related party relationships among shareholders holding less than 5% of the shares. If there are, whether the shareholding percentages should be aggregated, and those exceeding 5% should be subject to a thorough investigation as shareholders with more than 5%. 2. Please explain the composition and positions of the equity incentive personnel of the issuer, whether there are any related party relationships between the participants and other shareholders, directors, supervisors, or senior management of the issuer, whether there are personnel explicitly prohibited from participating in corporate equity incentives according to laws, administrative regulations, and relevant national regulations, as well as the fairness of the share price, the terms of the agreement, the decision-making process, the standardized operation, and providing clear conclusive opinions on the legality and compliance, and the existence of any conflicts of interest. 3. Please explain: (1) the qualifications obtained by the issuer for related business operations and whether the business scope of the issuer and its subsidiaries involves any restrictions or prohibitions in the negative list for foreign investment access special management measures (negative list) (2024 version), whether this listing and "full circulation" continue to meet the requirements of the foreign investment access policy before and after the listing; (2) whether the business scope of the issuer and its subsidiaries involves the production and sale of health products, and if so, whether the actual operation of this business and the specific business model are provided. 4. Please explain whether there are any pledges, freezes, or other defects in the shares held by the shareholders who intend to participate in the full circulation. 5. Please explain the progress of the state-owned shareholders in implementing state-owned stock markings and other state-owned asset management procedures. The prospectus shows that Xizi Health is a sports nutrition and functional food company dedicated to providing consumers with high-quality health products and leading a healthy lifestyle. The company's main products include protein powder, compound whey protein powder, creatine, functional gummies, coffee, etc. The company has created a brand matrix covering professional training, healthy living, weight management, and daily nutritional needs, with four main brands FoYes, fiboo, Grain Diary, and HotRule. Among them, fiboo, Grain Diary, and FoYes achieved cumulative sales exceeding RMB 500 million within 31 months, 20 months, and 15 months respectively after the products were launched. In April 2025, HotRule was launched, and as of the last feasible date, the cumulative GMV has exceeded RMB 60 million.