New Stock News | COFOE plans Hong Kong IPO, China Securities Regulatory Commission requires clarification on whether there are circumstances under relevant regulations that prohibit overseas issuance and listing for its domestic subsidiaries

According to the Zhitong Finance APP, on October 24, the China Securities Regulatory Commission (CSRC) announced the public disclosure of supplementary material requirements for overseas issuance and listing (October 20, 2025 - October 24, 2025). The CSRC requires COFOE to further explain whether the issuer's domestic subsidiaries fall under the circumstances prohibited from overseas issuance and listing as stipulated in Article 8 of the "Interim Measures for the Administration of Overseas Issuance of Securities and Listing by Domestic Enterprises." According to the Hong Kong Stock Exchange's disclosure on August 29, COFOE submitted a listing application to the Hong Kong Stock Exchange, with Huatai International and BNP PARIBAS as joint sponsors.

At the same time, the issuer is required to provide supplementary information regarding the business scope of its subsidiaries, which includes "advertising publishing" and "advertising design and agency," and to explain the status of these related businesses and whether the necessary qualifications and licenses have been obtained. The issuer should also explain the development and operation of products such as APPs, mini-programs, and public accounts, and whether they involve the collection and use of personal information. If so, please specify the scale of user information collected and stored, as well as the data collection and usage situation.

Regarding foreign investment access, please explain: (1) The business scope of the issuer's subsidiaries includes "Internet information services." Please explain the status of these related businesses and whether the necessary qualifications and licenses have been obtained; (2) In addition to the above, please explain whether the business scope and actual operations of the issuer and its subsidiaries involve areas prohibited or restricted for foreign investment as stated in the "Special Management Measures for Foreign Investment Access (Negative List) (2024 Edition)."

The prospectus shows that COFOE is one of the largest home medical device companies in China. According to Frost & Sullivan, based on sales in China in 2024, the company ranks second among all home medical device companies. During the performance record period, COFOE actively expanded its overseas market, attracting a growing loyal user base worldwide. Currently, COFOE's global business footprint covers over 60 countries and regions in Asia, Africa, Europe, and the Americas.

As of June 30, 2025, COFOE has 738 self-owned stores in China, of which 689 are "Jianer Hearing" service centers, covering more than 135 cities in China. The "Jianer Hearing" service centers provide professional hearing testing services and supply various high-quality hearing aid products, including its own COFOE brand. According to Frost & Sullivan, as of the end of 2024, Jianer Hearing ranks among the top three in the industry based on the number of hearing aid fitting centers in China