Lingka Technology: CSRC requires explanation on subscription prices of new shareholders and advertising business operations, among 5 items

NewTimeSpace News: On 11 September 2026, the International Cooperation Department of the CSRC published the supplementary material requirements for overseas issuance and listing filing for the period from 7 September 2026 to 11 September 2026, requiring Hangzhou Lygo Technology Co., Ltd. to provide supplementary explanations on 5 items, with its PRC legal counsel required to conduct verification and issue clear legal opinions.

On equity changes, the Company is required to supplement the rationality of the subscription prices of shareholders newly added in the 12 months before the submission of its overseas issuance and listing filing application, the reasons for differences in such prices and whether there were any abnormal subscription considerations; it must also explain whether shareholding on trust existed in its corporate history and, if so, conduct verification in accordance with the requirements on shareholding on trust under the Guidelines for the Application of Regulatory Rules - Overseas Issuance and Listing No. 2.

On business operations, the Company is required to explain the specific operations of its and its subsidiaries' business scope involving advertising design, agency, production and publication and whether such business involves product placement, and if so, further explain the revenue scale, proportion and customer information during the reporting period; it must also explain the operations of its business scope involving market research, e-commerce, social and economic consultancy services and the organisation of cultural and artistic exchange activities and the necessity of including them in its business scope. The Company must also, in accordance with the guidelines on the content and format of filing materials, supplement in its filing report the number of shares to be issued in the offering and the proportion thereof in the total share capital after the offering, the specific use of proceeds and the proportion for domestic and overseas use, whether the proceeds will be invested in overseas investment projects and whether the necessary approval, verification or filing procedures of the competent authorities have been performed; and explain the basic contents of its option incentive plan, the basic information of the grantees, the principles for determining grant and exercise prices, whether reserved interests are set aside and whether there is any transfer of benefits, and issue a conclusive opinion on compliance. In addition, the Company must supplement whether the shares held by shareholders intending to participate in the "full circulation" are subject to pledge, freezing or other title defects.

View announcement.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.