--- title: "New Stock News | Yusys Technologies plans Hong Kong IPO, the Securities and Futures Commission requires supplementary explanation of the reasons for inconsistencies in the identification results of the controlling shareholder and the identification standards, etc" type: "News" locale: "en" url: "https://longbridge.com/en/news/252222340.md" description: "Yusys Technologies plans to conduct an IPO on the Hong Kong stock market, but the China Securities Regulatory Commission requires it to provide additional explanations for the inconsistent results and standards regarding the identification of the controlling shareholder. The regulatory body also requested information on the share pledge situation of the controlling shareholder, the issuance and listing plan, and relevant legal opinions. The company has submitted its listing application to the Hong Kong Stock Exchange, with Huatai International and BNP Paribas as joint sponsors" datetime: "2025-08-08T11:39:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/252222340.md) - [en](https://longbridge.com/en/news/252222340.md) - [zh-HK](https://longbridge.com/zh-HK/news/252222340.md) --- # New Stock News | Yusys Technologies plans Hong Kong IPO, the Securities and Futures Commission requires supplementary explanation of the reasons for inconsistencies in the identification results of the controlling shareholder and the identification standards, etc According to the Zhitong Finance APP, on August 8, the China Securities Regulatory Commission (CSRC) announced the supplementary material requirements for the filing of overseas issuance and listing (August 1, 2025 - August 7, 2025). The CSRC mentioned in the announcement that Yusys Technologies (300674.SZ) is required to provide supplementary explanations regarding the inconsistent results of the identification of the controlling shareholder and the criteria for identification, and to issue a clear conclusive opinion on the identification of the controlling shareholder. According to the Hong Kong Stock Exchange's disclosure on June 18, Beijing Yusys Technologies Group Co., Ltd. (referred to as: Yusys Technologies) submitted a listing application to the main board of the Hong Kong Stock Exchange, with Huatai International and BNP Paribas as joint sponsors. The CSRC has requested Yusys Technologies to supplement the following matters, and to have lawyers verify and provide clear legal opinions: 1. Please explain the reasons and criteria for the inconsistent results of the identification of the controlling shareholder in the filing materials, and provide a clear conclusive opinion on the identification of the controlling shareholder. 2. Please explain the specific situation regarding the pledge of shares held by the company's controlling shareholder or shareholders controlled by the controlling shareholder and actual controller, and its impact on the control of the company and its subsidiaries and normal business operations, and whether it constitutes a situation prohibited from overseas listing as stipulated in Article 8 of the "Interim Measures for the Administration of Overseas Issuance of Securities and Listing by Domestic Enterprises." 3. Please provide specific details of the issuance and listing plan, including the number of shares issued (including over-allotment), the proportion of total share capital after issuance, expected fundraising amount, etc., and list the changes in the equity structure before and after this overseas listing in the case of full exercise of the over-allotment option, as well as whether there are any situations that may affect control. 4. Please explain (1) the specific situation of the operating license for value-added telecommunications business held by the company's subsidiaries and the foreign shareholding ratio before and after this issuance and listing; (2) the specific situation of the company's and its subsidiaries' business scope involving market research, advertising agency, online cultural operations, retail and wholesale of publications, value-added telecommunications business, internet information services, broadcasting and television program production and operation, broadcasting and television transmission equipment sales, etc., whether they are actually carried out and have obtained necessary qualifications and licenses, and whether they continue to comply with foreign investment access policy requirements before and after this issuance and listing. 5. Please explain (1) the specific situation and actual use of the information security service qualification certification held by the company; (2) whether the company and its subsidiaries are involved in the development and operation of websites, mini-programs, apps, public accounts, etc., whether they involve providing information content to third parties, the types of information content provided, and the information content security protection measures; at the same time, explain the scale of user information collected and stored, data collection and usage situation, and the arrangements or measures for personal information protection and data security before and after the listing. The prospectus shows that Yusys Technologies is a provider of financial technology solutions in China, operating in both domestic and overseas markets, providing product-oriented full-stack technology solutions to a wide range of financial institutions. During the track record period, Yusys Technologies' main business consists of three categories: banking technology solutions, non-banking technology solutions, and innovative operational services. The company's banking and non-banking technology solutions include credit business, digital banking business, financial regulatory business, data business, and intelligent financial business. In addition, the company develops innovative operational services characterized by ecological cooperation and partnerships. The company has established a broad coverage among a wide customer base, achieving a penetration rate of 100% among the People's Bank of China, policy banks, state-owned banks, and joint-stock commercial banks ### Related Stocks - [300674.CN](https://longbridge.com/en/quote/300674.CN.md) ## Related News & Research - [Ronshine China April contracted sales fall to RMB 323.44 million](https://longbridge.com/en/news/287212295.md) - [NEWLY FORMED MANHATTAN URANIUM RECEIVES APPROVAL TO DRILL AT NEVADA'S LARGEST PAST PRODUCING MINE](https://longbridge.com/en/news/287233635.md) - [TRUMP AI CEREMONY HAS BEEN POSTPONED TO LATER DATE - AXIOS](https://longbridge.com/en/news/287247394.md) - [Shanghai Industrial Expands into HK Student Housing with Connected Lease Deal](https://longbridge.com/en/news/287207683.md) - [Hisense Home Appliances Deploys RMB1.81 Billion into Chongqing Trust Wealth Products](https://longbridge.com/en/news/286888326.md)