ZEPHYR INTELLIGENT Receives Supplementary Material Requirements for Overseas Listing Filing, Focusing on Historical Nominee Shareholding Verification and Reserved Shares in Employee Shareholding Platform

NewTimeSpace · 2026/07/13 09:48 · By Zehong Cheng

NewTimeSpace News: Zephyr Intelligent has received supplementary material requirements from regulators during the overseas securities offering and listing filing process. The Company is required to clarify pricing and capital contribution compliance in historical equity changes, check historical nominee shareholding arrangements, verify pricing fairness and income tax payment for new shareholders added within 12 months prior to filing, confirm continuous foreign investment access compliance, disclose reserved or unallocated shares within employee shareholding platform, and examine title defects of shares proposed for full circulation. Legal counsel shall conduct relevant verification procedures and issue definitive legal opinions.

NewTimeSpace News: Recently, Zephyr Intelligent System (Shanghai) Co., Ltd. received supplementary material requirements issued by regulatory authorities in the course of filing for overseas securities offering and listing.

First, the Company shall supplement the share prices and pricing basis for each capital increase and equity transfer, assess abnormal subscription prices or potential benefit transfer, verify paid-in capital status and any capital contribution defects. Disclose whether nominee shareholding existed during historical development. Deliver definitive conclusions on lawfulness and compliance of the Company’s establishment and all equity changes, as well as the issuer’s legal status and valid continuous existence.

Second, explain the pricing basis and fairness for share subscriptions by new shareholders admitted within 12 months before filing, specify income tax payment status of relevant transferors, and issue definitive conclusions on the existence of benefit transfer.

Third, supplement confirmation on whether businesses of the issuer and its subsidiaries involve sectors restricted or prohibited for foreign investment, and verify sustained compliance with foreign investment access requirements before and after the proposed listing and full circulation.

Fourth, clarify whether the employee shareholding platform holds any reserved or ungranted shares.

Fifth, confirm whether shares held by shareholders participating in full circulation are encumbered by pledges, freezing orders or other title defects.

Legal counsel shall complete verification procedures covering all above matters and issue definitive legal opinions.

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ZEPHYR INTELLIGENT IPO Supplementary Materials for Filing