New Stock News: Westone Group plans to list in Hong Kong. The China Securities Regulatory Commission requires additional clarification on the pricing basis and details of previous capital increase and equity transfer transactions.

On July 3, the China Securities Regulatory Commission issued the "Supplementary Materials Requirements for Overseas Issuance and Listing (June 29, 2026 - July 3, 2026)". The CSRC's International Department has issued supplementary material requirements for 7 companies. Among them, Shuju Zhilian was asked to provide additional information on the pricing and pricing basis for each round of capital increase and equity transfer. According to the disclosure by the Hong Kong Stock Exchange on March 31, Beijing Shuju Zhilian Technology Co., Ltd. (referred to as Shuju Zhilian) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Huaxing Capital as the exclusive sponsor. The CSRC requested Shuju Zhilian to provide additional explanations on the following matters and asked lawyers to verify and provide clear legal opinions: 1. Please provide supplementary explanations: (1) Whether there are abnormal entry prices, interest transfers, unpaid capital contributions, failure to fulfill capital contribution obligations, capital withdrawal, or flaws in the capital contribution method in each round of capital increase and equity transfer of your company; (2) Please provide conclusive opinions on the legality and compliance of the establishment and changes in equity of your company, as well as the legal entity status and effective existence of your company. 2. Please provide supplementary explanations on the names of both parties in the history of equity entrustment, the proportion of entrusted equity, the start and end time of the entrustment, the method of terminating the entrustment, and the employment status of the entrustee during the entrustment period. Further explain the reasons for the formation, evolution, legality, compliance, existence of disputes or potential disputes, whether the trustee during the entrustment period belongs to a subject prohibited by laws and regulations from holding shares (including violation of non-compete regulations) according to the relevant provisions of "Guidelines for the Application of Regulatory Rules - No. 2 for Overseas Issuance and Listing", and explain whether there is a significant ownership dispute over the shares held by the controlling shareholder in accordance with Article 8 of the Measures for the Administration of Domestic Enterprises' Overseas Issuance of Securities and Listing. 3. Please provide supplementary explanations on whether your company and its subsidiaries' operations are involved in restricted or prohibited areas for foreign investment, and whether they continue to meet the requirements for foreign investment access before and after this issuance and listing, before and after "full circulation". 4. Please provide supplementary explanations on whether there are pledges, freezes, or other defects in the rights of the shares held by the shareholders intending to participate in the "full circulation" this time. The prospectus shows that Shuju Zhilian is a technology-driven full-chain brand operator. By combining local expertise with global market capability, the company helps overseas brands develop in the Chinese market and also promotes Chinese brands to the world stage.