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 21, the International Cooperation Department of the China Securities Regulatory Commission issued a filing notice on the overseas issuance and listing of Lesi Group Limited (Lesi Group Co., Ltd.) (China Cooperation Letter [2023] No. 1987). According to the overseas listing filing schedule issued by the China Securities Regulatory Commission, the filing type of Lexi Group is indirect overseas listing. The filing subject is Beijing Lesi Chuangxin Technology Co., Ltd., and the filing acceptance date is May 19, 2023. Huasheng Capital is its sole sponsor, and Jingtian Gongcheng is its domestic lawyer.
The details of the filing notice are as follows:
Lesi Group Limited (Lesi Group Limited):
Your company has received the overseas initial public offering filing materials submitted by Beijing Lesi Chuangxin Technology Co., Ltd., a domestic operating entity. According to the “Securities Law of the People's Republic of China”, “Trial Measures on the Administration of Overseas Issuance and Listing of Domestic Enterprises”, etc., I will notify the filing matters as follows:
1. Your company intends to issue no more than 125,000,000 overseas listed common shares and list them 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 enterprise's overseas issuance and listing filing information. It does not indicate that the China Securities Regulatory Commission makes a substantial judgment or guarantee on the investment value of the enterprise's securities or the investor's income, 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
December 20, 2023
According to the Hong Kong Stock Exchange listing rules, companies are required to submit a “Notice of Filing” at least 4 business days before the date of approval of the hearing, which means that Lexi Group has obtained the preliminary requirements to conduct a Hong Kong listing hearing, or will soon hold a listing hearing on the Hong Kong Stock Exchange.
Lexi Group submitted a prospectus on November 3, 2023. The main intermediary teams for listing include: Huasheng Capital as its sole sponsor; KPMG as its auditor; Jingtian Gongcheng and Loebo are its Chinese lawyers and Hong Kong lawyers respectively; Jia Yuan and Xia Liwen are its Chinese lawyers and Hong Kong lawyers respectively; and iResearch is its industry adviser.
Lexi Group, founded in 2015, is a mobile advertising service provider that mainly provides customers with mobile advertising services and markets brands, products and services for customers on media platforms operated by the company's media partners. The company's services include mobile marketing planning, traffic acquisition, ad material production, ad placement, ad optimization, campaign management, and ad distribution. In the first five months of 2023, the company served more than 110 customers from all walks of life, covering China's technology and internet services, financial services and gaming industries. As of May 31, 2023, Lexi Group has established business relationships with 6 media publishers, which can directly distribute mobile advertisements on more than 30 media platforms operated by these media publishers. Media platforms include short video platforms, search engine platforms, news and information content platforms, mobile browsers, app stores, and social media platforms.
Link to Rox Group's prospectus:
https://www1.hkexnews.hk/app/sehk/2023/105845/documents/sehk23110302002_c.pdf
