Hong Kong IPO disclosure precedents · 23 companies, 24 items
Social insurance and housing fund paid for employees through third-party human resources agencies rather than the employer's own account, e.g. for staff in cities without a local entity or employees wishing to contribute at their residence, which is not strictly compliant.
Compliance matters are read from filings since 24 August 2026.
During the Track Record Period, we engaged third-party human resource agencies to make contributions to social insurance and housing provident funds for certain employees.
Risk Factors · p. 54
The company's explanation, the adviser's view and the page in the filing: see MattersSuch arrangement is not in strict compliance with relevant PRC laws and regulations.
Risk Factors · p. 54
For example, during the Track Record Period, we have engaged certain third parties to make contributions to the social insurance fund and housing provident fund for three of our employees and we have not received any complaints or notices from our employees regarding such practice.
Risk Factors · p. 59
During the Track Record Period, we engaged a third-party human resources service provider to make contributions to the social insurance fund and housing provident fund for three employees in China (the “Third Party Contribution Arrangement”).
Business · p. 198
The company's explanation, the adviser's view and the page in the filing: see MattersThe Third Party Contribution Arrangement, although not uncommon in China, is not in strict compliance with relevant PRC laws and regulations.
Business · p. 198
During the Track Record Period, we engaged third-party agencies to handle social insurance premiums and housing provident fund contributions for certain employees. This arrangement, established on the basis of practical considerations and employee agreements, failed to fully comply with all applicable PRC laws and regulations.
Risk Factors · p. 47
During the Track Record Period, we engaged a third-party human resources agency to assist with the payment of social insurance and housing provident fund contributions for three employees in Shenzhen and three employees in Xi'an, instead of making such contributions directly. As a result, we recorded a shortfall in certain social insurance and housing provident fund contributions.
Business · p. 192
The company's explanation, the adviser's view and the page in the filing: see MattersFurthermore, on March 13, 2026, we established a Xi'an subsidiary to facilitate compliant local payment of social insurance contributions for the relevant employees in Xi'an, and we expect to complete the rectification of the remaining non-compliance in Shenzhen and fully rectify the above non-compliance by September 30, 2026.
Business · p. 192
In addition, during the Track Record Period, we engaged third-party agencies to make social insurance and housing provident funds for certain employees, because employees needed to pay such contributions in different locations and we had not yet completed the establishment procedures for our subsidiaries in the relevant regions.
Risk Factors · p. 52
During the Track Record Period, we engaged third-party agencies to make social insurance and housing provident funds for certain employees, because employees needed to pay such contributions in different locations and we had not yet completed the establishment procedures for our subsidiaries in the relevant regions.
Business · p. 221
The company's explanation, the adviser's view and the page in the filing: see MattersOur PRC Legal Advisor has advised us that the likelihood that our PRC entities would be subject to retrospective collection of unpaid contributions or administrative penalties initiated by the competent authorities in respect of such historical non-compliance is remote
Business · p. 221