The inquiry letter revealed the direction and key points of the stock transfer audit. The first financial reporter found that in addition to the three aspects of financial issues, compliance issues and information disclosure issues, the equity structure of the companies to be selected and the status of previous IPO applications have attracted much attention.
The reporter found that from March 2018 to August 2019, seven pledges took place in Saibo (Hong Kong), the controlling shareholder of blue mountain technology, with the number of single Pledged Shares ranging from 15 million to 50 million, and the total number of Pledged Shares totaled 200 million, accounting for 85.41% of the companys shares.
At the same time, the issue of equity pledge of Yingtai Biology (833819. OC) and Chenyue construction management (832859. OC) was also inquired. However, in the previous two failed years (834021. OC), the reason for the two withdrawal materials needs to be further explained.
Over 90% of the shares held by the controlling shareholder are pledged
Saibo (Hong Kong), the controlling shareholder of blue mountain technology, recently added a pledge of 20 million shares, which also made the proportion of its shares pledged more than 90%.
Lanshan technology was founded in September 2005 and listed on the new third board in June 2014. It is an innovative enterprise. The company is mainly engaged in the research and development, production (outsourcing) and sales of optical transmission and access network communication products. According to the prospectus, the controlling shareholder of the company is Saibo (Hong Kong) Holding Co., Ltd., with a shareholding of about 234 million shares, accounting for 69.20% of the total share capital.
According to the companys announcement on May 15, for the purpose of providing guarantee for the companys financing loans to the bank, Saibo (Hong Kong) pledged 20 million shares, accounting for 5.91% of the companys total share capital, with the pledge period from May 14, 2020 to May 18, 2022.
The pledge rate of controlling shareholders increased. Up to now, the shares held by Saibo (Hong Kong) two point three four Among 100 million shares, Two point two Billion shares are pledged, accounting for all shares held 94.02% u3002
The equity pledge of blue mountain technology has aroused the attention of stock transfer. In the inquiry letter issued on May 13, the share transfer requires the company to disclose the reasons, basic information, specific use of funds and realization conditions of pledge financing of controlling shareholders equity one by one, and to explain whether there are other rights restrictions on the shares of controlling shareholders and actual controllers.
According to the prospectus, 750 million shares directly held by Huabang health, the controlling shareholder of Yingtai biology, are in pledge status, accounting for 92.16% of the total shares of the issuer under its control and 66.62% of the total share capital of the company, mainly because Huabang health provides guarantee for the bank loan financing of the issuer. In the inquiry of the ball crown cable, the stock transfer refers to whether the company has the situation of holding shares on behalf of others. In the inquiry of Chenyue construction management, the stock transfer requires it to disclose the basic information of the stock pledge of the controlling shareholder Tibet Chenyue.
In June 2017, the golden years applied for the SME board, and in May 2018, the listing application materials were withdrawn. One year later, in May 2019, the company applied for listing on GEM, but three months later, it withdrew the listing application materials.
Why do you withdraw materials twice? In this inquiry, the stock exchange asked the prime time to explain the reasons for withdrawing the IPO application twice, the main problems involved and their standardization, rectification or settlement.
The IPO application experience was also inquired about by Airong software (830799. OC). Before applying for the selection layer, it had the experience of IPO on the growth enterprise market.
In the inquiry letter, the stock transfer requires the company to explain the brief information of the previous IPO application, the brief information of the on-site inspection, the reasons for the rejection of the IEC, and whether the intermediaries and signatories applying for the public offering and listing at the selective level have changed compared with the previous IPO.