Foreign employees not covered

Hong Kong IPO disclosure precedents · 1 companies, 1 items

Social insurance and housing fund not paid for foreign employees, who were instead covered by commercial insurance or already insured in their home country.

Compliance matters are read from filings since 24 August 2026.

2026-08-30Application ProofNon-compliance

Hangzhou Bangshun Pharmaceutical Co., Ltd.杭州邦顺制药股份有限公司

In addition, we did not make social insurance and housing provident fund contributions for one foreign employee, for whom we instead purchased commercial insurance in the PRC.
Business · p. 196

As of June 30, 2026, the aggregate contribution shortfall amounted to approximately RMB0.7 million.
Business · p. 196

our PRC Legal Adviser considers the likelihood of such fine being imposed remote
Business · p. 196

The company's explanation, the adviser's view and the page in the filing: see Matters

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