Shengwei Times is planning a Hong Kong IPO, and the China Securities Regulatory Commission has asked for supplementary explanations regarding arrangements or measures for the protection of personal information, etc.

On December 13, the China Securities Regulatory Commission (CSRC) released the supplementary materials requirements for overseas listing and issuance (December 6-12, 2024), which mentioned that Shengwei Times should supplement the arrangements or measures for personal information protection and data security before and after listing. According to the Hong Kong Stock Exchange's disclosure on November 13, Shengwei Times Technology Co., Ltd. filed an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC Capital International as the sole sponsor. Specifically, the CSRC's public notice pointed out that Shengwei Times should supplement the following matters and have lawyers conduct verification and issue clear legal opinions: 1. Please supplement the scale of user information collected and stored by your company, the data collection and usage situation, and the arrangements or measures for personal information protection and data security before and after listing; 2. Please explain whether the shares held by the "full circulation" shareholders in this issue are subject to pledges, freezing or other disputes; 3. Please explain the progress of the identification of state-owned shareholders and have lawyers issue clear conclusions on whether the relevant national asset management approval, registration or approval procedures have been lawfully completed. The prospectus shows that Shengwei Times is a leading provider of intercity and urban road passenger information services in China. According to Frost & Sullivan, in terms of ticket sales, the Company ranked first in the Chinese road passenger information service market in 2023. In terms of the number of "Network Pre-booking Taxi Business License", as of June 30, 2024, the Company ranked second in the Chinese ride-hailing service market. As of June 30, 2024, Shengwei Times cooperated with major OTA including 12306, Flight View, Tongcheng, Trip.Com, Feiji. "Travel365" is the Company's ticketing and other passenger service platform through online and offline channels. According to Frost & Sullivan, in terms of ticket sales under the connected ticketing service business, the Company ranked first in the Chinese road passenger information service industry. The Company's total transaction value in 2023 reached RMB2.9 billion, with 61.2 million tickets sold.