According to the new overseas listing and filing regulations for domestic companies that came into effect on March 31, 2023, companies chose to list H-shares in Hong Kong. The original path of big and small is a thing of the past. Companies listed overseas can directly submit a prospectus, and the roadmap will be replaced by a “filing notice”.
On December 6, the International Cooperation Department of the China Securities Regulatory Commission issued a filing notice concerning the overseas issuance and listing of Rookie International Holding Limited (Yongxing Dongrun International Holdings Limited) (Yongxing Dongrun International Holdings Co., Ltd.) (National Cooperation Letter [2023] No. 1869). According to the overseas listing filing information sheet issued by the China Securities Regulatory Commission, Yongxing Dongrun's application type is indirect overseas listing. The filing subject is Yongxing Dongrun Clothing Co., Ltd., and the filing acceptance date is July 3, 2023. CITIC Securities and CMB International are their co-sponsors, and Junhe is their domestic lawyer.
The details of the filing notice are as follows:
Rookie International Holding Limited (Yongxing Dongrun International Holdings Limited):
The filing materials for your company's overseas initial public offering have been received. According to regulations such as the “Securities Law of the People's Republic of China” and “Trial Measures on the Administration of Overseas Issuance and Listing of Domestic Enterprises”, I will notify the filing matters as follows:
1. Your company plans to issue no more than 143,398,000 shares of common stock and list it on the Hong Kong Stock Exchange.
2. From the date this filing notice is issued until the end of this overseas issuance and listing, if important matters occur in your company, it shall be reported through the China Securities Regulatory Commission's filing management information system in accordance with the relevant regulations on overseas issuance and listing of domestic enterprises.
3. Within 15 working days after your company has completed overseas issuance and listing, you should report the issuance and listing status through the China Securities Regulatory Commission's Filing Management Information System. Your company should strictly abide by relevant domestic and foreign laws, regulations and rules during the overseas issuance and listing process.
4. If your company has not completed overseas distribution and listing within 12 months from the date of issuance of this filing notice and plans to proceed further, the filing materials should be updated.
This filing notice only confirms the company's overseas issuance and listing registration information. It does not indicate that the China Securities Regulatory Commission has made a substantive judgment or guarantee on the investment value of the enterprise's securities or investors' returns, nor does it indicate that the China Securities Regulatory Commission guarantees or determines the authenticity, accuracy, or completeness of the enterprise's filing materials.
International Cooperation Department of the China Securities Regulatory Commission
2023/12/5
According to the Hong Kong Stock Exchange listing rules, companies are required to submit a “filing notice” at least 4 business days before the hearing approval date, which means that Yongxing Dongrun has obtained the preliminary requirements for a Hong Kong listing hearing, or that a listing hearing on the Hong Kong Stock Exchange will be held soon.
Yongxing Dongrun submitted a prospectus on the Hong Kong Stock Exchange on June 23, 2023. Its main listing intermediary team includes: CITIC Securities and CMB International as their co-sponsors; Ernst & Young as their auditors; Junhe and Fuerde as their company's Chinese lawyers and corporate Hong Kong lawyers; Jingtian Gongcheng and Gao Weishen as their brokerage Chinese lawyers and brokerage Hong Kong lawyers; and Frost Sully as their industry advisors.
Yongxing Dongrun, founded in 2012, is a leading full-industry chain children's clothing brand operator in the Greater China region. The product portfolio targets all children of all ages, including infants, toddlers, children, and teenagers. According to Frost & Sullivan's report, in terms of revenue in 2022, Yongxing Dongrun ranked 7th among children's clothing brand operators in Greater China and the number one franchised children's clothing brand operator in Greater China in 2022; in terms of the number of children's clothing brands (brand revenue reached more than RMB 200 million), the company ranked first among children's clothing brand operators in the Greater China region. Yongxing Dongrun obtained licenses from NIKE, Jordan, Converse, Levi's, Hurley, and Polo Ralph Lauren in Greater China, and directly authorized Tommy Hilfiger and Calvin Klein in mainland China from various brand partners, covering the main categories of children's clothing and accessories products of various brands (including NIKE, Jordan, Converse, Levi's, Hurley, and Tommy Hilfiger's license is exclusive). At the same time, the company is an authorized dealer of specific footwear, clothing and accessories products for some of the above brands in Greater China. As of December 31, 2022, Yongxing Dongrun has 957 physical stores (including direct-run stores, joint stores and franchise stores), of which 760 are Rookie collective stores and 197 are single-brand stores. At the same time, the company operates online stores on its own Rookie App and several popular third-party e-commerce or social platforms.
Link to Yongxing Dongrun's prospectus:
