UNIDT receives CSRC supplementary information request on overseas listing filing, covering capital contribution compliance, telecom licence and shareholder look-through

NewTimeSpace News: UniDT Co., Ltd.  in the course of its filing for overseas listing and issuance and the "full circulation" of domestic unlisted shares, has received a supplementary information request from the China Securities Regulatory Commission (CSRC), requiring supplementary explanations on three matters, with lawyers engaged to conduct verification and issue clear legal opinions.

The matters include: (i) explaining the prices and pricing basis of each capital increase and equity or share transfer in the Company's history, whether there are any abnormal subscription prices or benefit transfer, whether capital contributions have been fully paid, and whether there are any circumstances of failure to perform capital contribution obligations, withdrawal of capital or defects in the method of capital contribution; and issuing a concluding opinion on whether the establishment of the Company and each historical change in equity are lawful and compliant, and whether there are any subjects prohibited by laws and regulations from holding shares.

(ii) Explaining, in light of the business scope of the Company and its subsidiaries, whether, apart from cognitive intelligence algorithm products, the Company actually engages in or plans to carry out business in other fields and whether it has obtained the necessary qualifications and licences; explaining, in accordance with the Special Administrative Measures for Foreign Investment Access (Negative List) and other relevant foreign investment management regulations, the circumstances in which the business, business scope, qualifications and licences of the Company and its subsidiaries involve fields prohibited or restricted for foreign investment; and explaining the current status of the Value-Added Telecommunication Business Operation Licence held by the Company, and whether it will continue to comply with relevant foreign investment management regulations before and after this listing and issuance and the "full circulation".

(iii) Explaining the progress of the state-owned shareholder's state-owned share marking procedures, and whether the shares held by shareholders proposed to participate in the "full circulation" are subject to any pledge, freezing or other defects in title; and conducting look-through verification of shareholders including Shanghai Wumu Enterprise Management Consulting Partnership (Limited Partnership) strictly in accordance with the requirements of Guidelines for the Application of Regulatory Rules - Overseas Issuance and Listing Type 2, and explaining whether any subject prohibited by laws and regulations from holding shares directly or indirectly holds shares in the issuer among the Company's major shareholders.

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