According to the Zhitong Finance APP, ASCENTAGE-B (06855) announced that it has submitted a confidential F-1 registration statement draft regarding a proposed initial public offering to the SEC. On December 23, 2024 (Hong Kong time), the China Securities Regulatory Commission (CSRC) has published a notice on its website concerning the company's filing for the proposed IPO, confirming the filing content and that the filing application has been completed; and on December 27, 2024 (Eastern time), the company publicly submitted the F-1 registration statement representing its ordinary shares in the proposed IPO to the SEC (with a par value of $0.0001 per share), which has not yet become effective.

J.P. Morgan Securities LLC and Citigroup Global Markets Inc. serve as the joint bookrunners and underwriters for the proposed offering.

The company intends to apply to list its American Depositary Shares on the Nasdaq Global Select Market (or Nasdaq) under the ticker “AAPG”. The number of American Depositary Shares to be offered and the proposed price range have not yet been determined. The offering price of the company's American Depositary Shares will be based on the closing price of the company's ordinary shares on the Hong Kong Stock Exchange on a trading day prior to the pricing date, taking into account current market conditions and negotiated with the underwriters. To avoid any doubt, the offering price shall not be discounted by 20% or more from the reference price of the company's ordinary shares as stated in Rule 13.36(5) of the listing rules.