New stock news | Hu Jia Technology plans to go public in Hong Kong. China Securities Regulatory Commission requires additional explanations on the use of funds raised for domestic and foreign investment projects and other matters.

The China Securities Regulatory Commission issued the "Supplementary Material Requirements for Overseas Issuance and Listing Record Filing (June 8, 2026 - June 12, 2026)." The CSRC International Department has requested supplementary materials from 12 companies. Among them, Hu Jia Technology is required to provide further explanation on the portion of the raised funds intended for the construction of new production facilities and upgrading of existing production bases, including specific amounts and proportions for domestic and overseas investment projects. According to the Hong Kong Stock Exchange disclosure on January 26, Shenzhen Hu Jia Technology (Group) Co., Ltd. submitted an application for listing on the Hong Kong Stock Exchange main board, with Morgan Stanley and CICC as its joint sponsors. The CSRC has requested Hu Jia Technology to provide clarification on the following matters and requested legal advice from lawyers: 1. Please itemize the specific amounts and proportions for domestic and overseas investment projects where the raised funds will be used for the construction of new production facilities and upgrading existing production bases, and explain the compliance with relevant approval, approval, or record-filing procedures. 2. Please explain the specific details of the external consultants involved in the equity incentive plan that the issuer plans to implement post-listing, and provide a clear conclusion on the legality, compliance, and existence of conflict of interest. 3. Please provide additional information on whether the shares held by the shareholders planning to participate in the "full circulation" have been pledged, frozen, or have any other rights defects. The prospectus shows that Hu Jia Technology is a leading brand in professional-grade skincare in China and ranks among the top in the market for improvement-type skincare products. In 2019, the HBN brand was born for visible real effects, to meet the growing demand of consumers for scientifically proven skincare effects. Hu Jia Technology offers improvement-type skincare products such as anti-wrinkle and firming, brightening and whitening, and other products. As of September 30, 2025, the HBN brand has 36 SPU products available, providing consumers with a comprehensive skincare product matrix that meets the needs of different skin types, all-weather, and multi-scene. According to the report by Zhoushi Consulting, based on the retail sales of skincare products in 2024, Hu Jia Technology has developed into one of the top ten domestic brands in the Chinese skincare market, and it is also the youngest brand among the top ten, and the largest professional-grade domestic skincare brand in China's improvement-type skincare market.