＜IPO＞Zhejiang Taimei Medical Greenlighted by CSRC for HK IPO Filing

　　Zhejiang Taimei Medical Technology recently received a notification from the China Securities Regulatory Commission (CSRC) for a Hong Kong listing and a filing for full circulation of unlisted shares in China, with a plan to issue no more than 135 million ordinary shares, Chinese media reported. However, Taimei Medical submitted its application for listing on the Main Board of HKEX (00388.HK) +1.600 (+0.662%) Short selling $129.59M; Ratio 25.264% on 29 January 2024, which means that the six-month time limit is about to expire.

　　According to the company's filing with HKEX, it is a digital solutions provider in the life sciences research, development and marketing sectors, with its main services including digital collaboration platforms, cloud-based software and digital services. The company reported a loss of RMB269 million for the first nine months of last year. The company carried out several rounds of pre-IPO financing from investors, including TENCENT (00700.HK) -5.000 (-1.323%) Short selling $1.13B; Ratio 19.315% , GL Ventures and YF Capital.

　　Related NewsJefferies Adds TP of TENCENT to $484, Forecasts 2Q24 Non-GAAP NP to Grow 26% YoY to RMB47B

　　The company had applied for listing on the Sci-tech Innovation Board (SSE STAR Market). But after three rounds of inquiries and replies, the SSE considered that the company had not relied mainly on its core technologies for production and operation, and had failed to adequately disclose important information that would facilitate investors' value judgment and investment decisions, and thus did not comply with the relevant requirements for issuance and listing, and terminated its application.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-17 12:25.)

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