New Stock News | Qinhao Pharmaceuticals intends to list on the Hong Kong Stock Exchange. The China Securities Regulatory Commission requires additional information on the company's net assets data for the past three years, among other matters.

On May 22, the China Securities Regulatory Commission announced the supplementary material requirements for overseas issuance and listing filing disclosure (May 18, 2026 - May 22, 2026). The International Department of the China Securities Regulatory Commission issued supplementary material requirements for 17 companies, including a request for Qinhao Pharmaceuticals to provide data on net assets and net profits for the past three years. It is reported that Qinhao Pharmaceuticals submitted its application to the Hong Kong Stock Exchange on January 16, 2026, with Huatai International as the sole sponsor. The China Securities Regulatory Commission requested Qinhao Pharmaceuticals to provide explanations for the following issues, and requested lawyers to verify and provide clear legal opinions: 1. In accordance with the "Guidelines for the Application of Regulatory Rules - No. 2 Overseas Issuance and Listing", please explain whether the actual controlling shareholders have permanent overseas residency rights. 2. Please provide information on the pricing basis for previous capital increases and equity transfers, whether the capital has been paid up, whether there are instances of failure to fulfill capital obligations, capital diversion, or flaws in capital contribution methods, and provide clear conclusions on the legality and compliance of previous equity changes. 3. Please explain the pricing basis and fairness of the pricing for new shareholders entering the capital within the last 12 months, reasons for any differences in entry prices, their reasonableness, and tax payment situations, and provide clear conclusions on whether there is any abnormal consideration for the entry and whether there is any transfer of benefits. 4. Please supplement the net asset and net profit data for the past three years in your filing report. 5. Please provide further information on the specific compliance of overseas investments and foreign exchange registration procedures involving your overseas subsidiaries, and provide conclusive opinions on their compliance. The prospectus shows that Qinhao Pharmaceuticals is a biopharmaceutical company mainly focused on developing potential targeted therapies in the field of oncology. It has an innovative pipeline of candidate drugs built around the RAS signaling pathway and synthetic lethality mechanisms. According to data from Zhoushi Consultancy, the company's multiple candidate drugs targeting the same receptor are considered to be in a leading position globally in terms of clinical progress. The company's core product GH21 is a potential best-in-class allosteric SHP2 inhibitor, currently in phase 2 clinical trials. The company obtained IND approval for GH21 as a monotherapy for the treatment of advanced solid tumors from the National Medical Products Administration in November 2021, started its phase 1 monotherapy clinical trial in May 2022, and completed phase 1 clinical trials in March 2025 with the issuance of a clinical research report.