Phancy Group Co., Ltd. (PHANCY) announced that the Beijing arm of the China Securities Regulatory Commission (CSRC) approved its filing for pre-listing tutoring on 25 March 2026, marking the first formal step toward an initial public offering of RMB-denominated ordinary shares on the Shenzhen Stock Exchange (the “Proposed A Share Offering”).

The company has engaged Huatai United Securities Co., Ltd. as its designated tutoring institution and has executed a corresponding agreement. Acceptance into the tutoring programme confirms regulatory acknowledgment of PHANCY’s intention to pursue a domestic listing but does not constitute approval for the IPO itself. Key parameters—including the final share structure—remain under deliberation, and no listing application has yet been submitted to any exchange.

Management emphasised that the Proposed A Share Offering still depends on approvals from the board, shareholders and multiple regulatory bodies. PHANCY stated it will release further disclosures in accordance with Hong Kong Listing Rules and other applicable regulations as material developments occur.

Investors are advised to exercise caution when dealing in PHANCY shares until greater clarity emerges regarding the timeline and outcome of the prospective A-share listing.