On March 1, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing registration (February 23, 2024 to February 29, 2024).
The Zhitong Finance App learned that on March 1, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing registration (February 23, 2024 to February 29, 2024). Among them, the Securities Regulatory Commission requested Taimei Technology to explain the reason and rationality of the large difference between the company's shareholders' share transfer price in September 2023 and the previous one. According to the Hong Kong Stock Exchange disclosure on January 29, Taimei Technology submitted a statement to the main board of the Hong Kong Stock Exchange, with Morgan Stanley and CICC as co-sponsors.
Specifically, the Securities Regulatory Commission announced that Taimei Technology 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 reason and rationality of the large difference between the shareholders' share transfer price of your company in September 2023 compared to the previous one.
2. Please explain whether the shares held by the “full circulation” shareholders of this application have been pledged, frozen, or otherwise disputed, and whether they are disclosed in accordance with regulations.
3. Please explain the status of products such as websites, apps, and applets developed and operated, the scale of collection and storage of user information, data collection and use, whether information is provided to third parties, and arrangements or measures for personal information protection and data security before and after listing.
4. Please explain whether it continues to meet the requirements of the relevant regulations on foreign investment access before and after the issuance and listing, and explain the relevant basis.
5. Please explain the relevant circumstances of the application for A-share listing, and whether there are any matters that have had a significant impact on this issuance and listing.
According to the prospectus, according to Insight Consulting data, based on 2022 revenue, Taimei Technology is the largest supplier of digital solutions in the field of life science R&D and marketing in China. The company designs and provides professional software and digital services for all parties in the life science industry chain. Currently, the company is building a next-generation digital infrastructure to accelerate the development and marketing of life science products such as innovative drugs and medical devices.
As of September 30, 2023, the company's active orders amounted to RMB 1.6 billion, involving more than 3,300 software products and digital service projects. Through comprehensive customer support, the company's core customer retention rate in 2022 was as high as 94.7%. Furthermore, the number of the company's customers grew from 908 in 2021 to 1,033 in 2022.
As of September 30, 2023, the company has provided services to more than 1,300 pharmaceutical companies and commissioned research institutes, covering 21 of the world's top 25 pharmaceutical companies and 90 of the top 100 pharmaceutical innovators in China. According to Insight Consulting data, based on the number of customers, the company has become the most widely used digital solution provider in the field of life science R&D and marketing in China.