On August 23, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing registration (August 16, 2024 to August 22, 2024).
The Zhitong Finance App learned that on August 23, the China Securities Regulatory Commission announced the requirements for supplementary materials for overseas issuance and listing registration (August 16, 2024 to August 22, 2024). Among them, the Securities Regulatory Commission requested Yuejiang Technology to further explain whether the company holds a value-added telecommunications business license and whether it continues to comply with the foreign investment entry policy before and after the current issuance and “full circulation”. According to the Hong Kong Stock Exchange's disclosure on June 26, Shenzhen Yuejiang Technology Co., Ltd. (Yuejiang Technology) submitted a listing application to the main board of the Hong Kong Stock Exchange, with Guotai Junan International and Agricultural Bank International as co-sponsors.
At the same time, it was further explained the progress of the cancellation of the special rights of Shenzhen Qianfan Enterprise Aviation No. 1 Private Equity Investment Fund Partnership (Limited Partnership), Haikou Guo Yingjun, and Enterprise Management Partnership (Limited Partnership), whether there are potential disputes or other contentious circumstances, and whether they constitute a substantial obstacle to the current issuance and listing. Whether the shares held by the shareholders participating in the “full circulation” have been pledged, frozen, or otherwise disputed.
According to the prospectus, Yuejiang Technology specializes in the development, manufacture and commercialization of collaborative robots, and enjoys a leading position in technology. According to the Insight Consulting Report, in terms of shipments in 2023, Yuejiang Technology ranked in the top two in the global collaborative robot industry and ranked first among all collaborative robot companies in China, with a global market share of 13.0%.
On the financial side, in 2021, 2022, and 2023, Yuejiang Technology achieved revenue of approximately 0.174 billion yuan, 0.241 billion yuan, and 0.287 billion yuan respectively; losses during the same period were approximately 41.756 million yuan, 52.477 million yuan, and 0.103 billion yuan, respectively.