Tage iDriver Technology: CSRC requires explanation on shares donated by the controller, pending litigation, among 13 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 Tage iDriver Technology Co., Ltd. to provide supplementary explanations on 13 items, the largest number among the companies covered in this round, with all items subject to verification by its PRC legal counsel and clear legal opinions. 

On equity matters, the Company is required to explain the pricing basis for its historical capital increases and share transfers (with prices set out in a separate column), whether capital contributions were paid up, and whether there was any failure to fulfil capital contribution obligations, withdrawal of capital contributions or defect in the form of contribution; to explain the donation of shares in the issuer held by its actual controller, including the rationality of the donation, the decision-making procedures performed and the payment of taxes, and whether it complies with the Company Law and the relevant tax laws and regulations; and to explain the pricing basis and fairness of the subscription prices of shareholders newly added in the past 12 months, the reasons for and rationality of price differences, the payment of taxes and whether there were any abnormal subscription considerations, and to issue a clear conclusive opinion on whether there is any transfer of benefits. The Company must also verify shareholding on trust in its corporate history in accordance with Guideline No. 2, explain with reference to the requirements applicable to controlling shareholders and actual controllers under that guideline the circumstances of its largest shareholder and shareholders with significant influence, whether the shares held by them are subject to pledge or freezing and whether any of the prohibited circumstances for overseas offerings under Article 8 of the Trial Administrative Measures for the Overseas Securities Offering and Listing by Domestic Companies exists, and explain the circumstances and specific reasons for its actual controller terminating part of the concerted action arrangements in March 2026.

On other matters, the Company must explain whether the implementation of its equity incentive plan is legal and compliant and whether there is any transfer of benefits, the fairness of grant prices, whether grantees who have left still holding incentive interests is consistent with prior contractual arrangements and whether there are disputes or potential disputes, and the reasons and background for external persons' subscription, their subscription prices, pricing basis and sources of funds, and whether a transfer of benefits exists where the subscription prices of external advisers are the same as or close to those of employees. The Company must also explain the basis for identifying state-owned shareholders and the progress of state-owned shareholding identification and other state-owned asset management procedures, explain the specific use of proceeds (including projects and countries or regions) and whether any overseas investment approval, verification or filing is required, supplement its net profit figures for the past three years in the filing report, and state the number and proportion of H shares and unlisted shares after full exercise of the over-allotment option following the offering and full circulation. In addition, the Company must supplement the specific circumstances and latest progress of its pending litigation, whether such circumstances may have a material adverse effect on its future operations, whether they may constitute a material obstacle to the offering and whether they have been fully disclosed, and whether there are any material pending litigation, arbitration or administrative penalties overseas, as well as whether the shares held by shareholders intending to participate in the "full circulation" are subject to pledge, freezing or other title defects.

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