一、请说明公司境外搭建离岸架构和返程投资涉及的外汇登记、境外投资、外商投资、税费缴纳等监管程序方面合法合规的结论性意见。On January 19, the China Securities Regulatory Commission announced the disclosure of supplementary material requirements for overseas issuance and listing registration (January 12, 2024 to January 18, 2023). Among them, the announcement required IVF to further explain matters such as the company's offshore construction overseas.
The Zhitong Finance App learned that on January 19, the China Securities Regulatory Commission announced the disclosure of supplementary materials for overseas issuance and filing (January 12, 2024 to January 18, 2023). Among them, the announcement required AVF to further explain matters such as the company's offshore construction overseas. According to the Hong Kong Stock Exchange's disclosure on December 22, 2023, AVF Hospital Management Group Limited (“AVF”) submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC Securities as its sole sponsor.
Specifically, the Securities Regulatory Commission announced that AVF was requested to provide additional explanations on the following matters, and that lawyers were requested to conduct inspections and issue clear legal opinions:
1. Please explain the concluding opinions on legal compliance with regulatory procedures such as foreign exchange registration, overseas investment, foreign investment, and tax payment involving the company's overseas offshore structure and return investment.
2. Please indicate whether the scope of business of the company and domestic operating entities involves relevant instructions on areas where foreign investment is prohibited or restricted as stipulated in the “Special Administrative Measures for Foreign Investment Entry (Negative List)”, such as human stem cells and the development and application of genetic diagnosis and treatment technology.
According to the prospectus, AVF is a leading one-stop assisted reproductive technology (ART) and assisted service provider in China. Through the company's four authorized hospitals in Guangdong, Tianjin and Yunnan, the company focuses on providing ART and ancillary services for infertility patients in many regions of China (covering 15 surrounding provinces and municipalities directly under the Central Government).
According to Frost & Sullivan, in 2022, the company's hospital ranked fourth among private ART service providers in China, performing a total of 6,706 IVF cycles, accounting for about 0.9% of the total number of IVF cycles performed in China in the same year. According to the same source, the ART and ancillary services market in China is relatively fragmented, and the top five ART and ancillary service providers together account for about 13.8% of the total market share.
