According to the new regulations for domestic enterprises' overseas listing filing effective on March 31, 2023, the original pre-listing disclosure documents will become history for enterprises choosing H-shares listing in Hong Kong. The filing notice will replace the pre-listing disclosure documents for overseas listed companies.
On June 17, 2024, the International Cooperation Department of the China Securities Regulatory Commission issued a notice on the overseas issuance and listing of Qiniu Limited (Qiniu Intelligent Technology Co., Ltd.) (Guohehan (2024) No. 1249).
The specific content of the filing notice is as follows:
Qiniu Limited (Qiniu Intelligent Technology Co., Ltd.):
Your company's filing for overseas issuance and listing submitted by the domestic operating entity Shanghai Qiniu Information Technology Co., Ltd. has been received. According to the "Securities Law of the People's Republic of China" and the "Trial Measures for the Administration of the Issuance of Securities and Listing of Domestic Enterprises Overseas", I will notify you of the filing matters as follows:
1. Your company plans to issue no more than 234,715,000 shares of overseas listed ordinary shares and list on the Hong Kong Stock Exchange.
2. From the date of this filing notice to the end of this overseas issue and listing, if any significant event occurs, your company shall report it through the China Securities Regulatory Commission filing management information system in accordance with relevant regulations on domestic enterprises' overseas issuance and listing.
3. Within 15 working days after your company completes the overseas issue and listing, it shall report the issue and listing through the China Securities Regulatory Commission filing management information system. Your company shall strictly implement the rectification requirements put forward by the National Development and Reform Commission, the Ministry of Commerce, the Ministry of Industry and Information Technology and other departments, and strictly abide by relevant laws, regulations and rules at home and abroad during the overseas issue and listing process.
4. If your company fails to complete the overseas issue and listing within 12 months from the date of this filing notice and plans to continue, it shall update the filing materials.
This filing notice only confirms the filing information for enterprises' overseas issue and listing, and does not indicate that the China Securities Regulatory Commission has made any substantive judgment or guarantee on the investment value of the enterprise's securities or the return on investment of investors, nor does it indicate that the China Securities Regulatory Commission has guaranteed or recognized the authenticity, accuracy and completeness of the enterprise's filing materials.
International Cooperation Department of China Securities Regulatory Commission
June 17, 2024.
According to the listing rules of the Hong Kong Stock Exchange, the company needs to submit a "filing notice" at least four business days before the hearing approval date, which means that Qiniu Cloud has obtained the prerequisite for the Hong Kong hearing or will soon conduct a listing hearing on the Hong Kong Stock Exchange.
Qiniu Cloud, the latest prospectus was submitted to the Hong Kong Stock Exchange on March 19, 2024, and its main intermediaries for listing include: Shenwan Hongyuan Hong Kong, BOCOM International as its joint sponsors and overall coordinators; Huatai International as its overall coordinator; Ernst & Young as its auditor; King & Wood Mallesons, Jia Yuan are its Chinese lawyers and Hong Kong lawyers respectively; Jingtian & Gongcheng, Mei Fu are its brokerage Chinese lawyers and Hong Kong lawyers respectively; iResearch Consulting is its independent industry consultant.
Qiniu Cloud was established in 2011 as one of China's earliest platforms to provide audio and video cloud services, and is committed to becoming a leading one-stop intelligent audio and video service provider. The company mainly provides audio and video PaaS services (MPaaS) and application platform services (APaaS). The company is one of the few companies in China that has developed comprehensive and high-performance MPaaS products and has integrated and covered all aspects of audio and video business. According to iResearch Consulting, based on 2023 revenue, Qiniu Cloud is the third largest audio and video PaaS service provider in China, with a market share of 5.8%; based on 2023 APaaS (Application Platform as a Service) revenue, Qiniu Cloud is also China's second largest audio and video APaaS service provider, with a market share of 14.1%. According to iResearch Consulting, Qiniu Cloud is one of the five participants in the audio and video PaaS industry with the most comprehensive AI capabilities.
Qiniu Cloud prospectus link:
https://www1.hkexnews.hk/app/sehk/2024/106311/documents/sehk24031801708_c.pdf
