According to the new regulations on Overseas listing records for domestic enterprises effective from March 31, 2023, companies opting for a Listing in Hong Kong H-shares have made the previous small and large routes a thing of the past. Enterprises can directly submit a prospectus for Overseas listing, and the large route will be replaced by a " Filing Notice".
On June 24, 2024, the International Cooperation Department of the China Securities Regulatory Commission issued a notice regarding the Overseas issuance and listing filing for HealthyWay Inc. (Healthy Way Co., Ltd.) (Guo He Han [2024] No. 1314).
The filing notice is as follows:
HealthyWay Inc. (Healthy Way Co., Ltd.):
Your company’s overseas issuance and listing filing materials submitted through the domestic operating entity Zhejiang Healthy Way Technology Group Co., Ltd. have been received. According to the "Securities Law of the People's Republic of China" and the "Trial Measures for the Administration of Overseas Issuance of Securities and Listing by Domestic Enterprises," the following notification regarding the filing matters is provided:
1. Your company plans to issue no more than 108,956,500 shares of overseas listed common stock 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. Your company must report the issuance and listing situation through the China Securities Regulatory Commission's filing management information system within 15 working days after completing the overseas issuance and listing. Your company must strictly implement the rectification requirements put forth by the National Development and Reform Commission, the Ministry of Commerce, the Ministry of Industry and Information Technology, and other departments, and must strictly comply with relevant laws, regulations, and rules during the overseas issuance 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 24, 2024.
According to the listing rules of the Exchange, companies must submit a "filing notice" at least 4 business days before the approval date of the hearing, meaning that Healthy Road has met the prerequisite requirements to conduct a listing hearing in Hong Kong and may soon hold a listing hearing on the Exchange.
Healthy Road submitted its prospectus to the Exchange on December 29, 2023, and its main listing intermediary team includes: CCB International as its exclusive sponsor; Lingfeng Capital as its financial advisor; KPMG as its auditor; Jingtian Gongcheng and Puhua as its Chinese lawyers and Hong Kong and US lawyers for the company respectively; Tongshang and Hanyu as its Chinese lawyers and Hong Kong lawyers for the brokerage respectively; and Frost & Sullivan as its industry consultant.
Healthy Road, based in Fuzhou, Fujian, serves as a service platform for the health and wellness industry in China. According to Frost & Sullivan's data, as of the end of 2022, based on the number of registered individual users on its platform, the company currently operates one of the largest digital health medical services platforms in China. As of June 30, 2023, there were 0.1786 billion registered individual users on the company's platform, 845,200 registered doctors, and it connects with 11,601 hospitals (among which 1,471 are top-tier hospitals).
Link to Healthy Road's prospectus:
https://www1.hkexnews.hk/app/sehk/2023/106103/documents/sehk23122901798.pdf
