Recently, ANDE Intelligent Supply Chain received feedback from the China Securities Regulatory Commission (CSRC) regarding its overseas listing filing. The specific feedback is as follows, requiring the company to supplement explanations on the following matters, with lawyers to review and provide clear legal opinions:
1. Please explain the reasons for inconsistent results in controlling shareholder identification in filing materials and the identification standards, and provide clear conclusive opinions on controlling shareholder identification.
2. Please explain the reasons for new shareholders' investments, pricing basis and fairness of investment prices within 12 months before submitting the filing application, and whether there are benefit transfer situations.
3. Regarding equity incentives, please explain the progress of procedures related to the withdrawal of departed employees' equity shares and whether there are disputes or potential disputes.
4. Please explain the progress of cancellation of value-added telecommunications business operating permits and industrial and commercial change registration for Tianjin ANDE Network Technology Co., Ltd., whether the cancellation of related qualifications will have a material adverse impact on the normal business operations of your company and subsidiaries, and whether it continues to comply with foreign investment access policy requirements before and after this issuance and listing.
5. Please explain the specific situation of your company and subsidiaries' business scope involving 5G communication technology services, refined oil wholesale, hazardous chemical operations, and gas operations, whether related businesses are actually conducted and necessary qualifications and permits are obtained.
6. Please explain whether the shares held by shareholders intending to participate in "full circulation" are pledged, frozen, or have other defective rights.
On August 27, ANDE Intelligent Supply Chain submitted its listing application to the Hong Kong Stock Exchange's Main Board, with CICC and Morgan Stanley serving as joint sponsors.
ANDE Intelligent Supply Chain originated as the logistics business segment within Midea Group. In 2017, it was formally renamed ANDE Intelligent Supply Chain and began expanding into external markets after spinning off from Midea. Today, ANDE Intelligent Supply Chain has become China's largest integrated supply chain logistics solution provider in the home appliance industry, with annual revenue exceeding 18.6 billion yuan.
The He Xiangjian family, founders of Midea Group, has already directly or indirectly controlled 9 listed companies. This means that if ANDE Intelligent Supply Chain successfully completes its IPO, the He Xiangjian family will achieve its 10th IPO.