Zhitong Finance App learned that on September 25, the International Cooperation Department of the China Securities Regulatory Commission issued a filing notice for the overseas issuance and listing of U-BX Technology Ltd. (UBXG.US) (UBXG.US). Youjia Insurance plans to issue no more than 5 million overseas listed common shares and list them on the US NASDAQ Exchange. Boustead Securities LLC is the underwriter, and Jiangsu Junjin is its domestic lawyer.
The Securities Regulatory Commission pointed out that from the date the filing notice is issued until the end of the current overseas issuance and listing, if an important matter occurs, an insurance company should pass a report through the China Securities Regulatory Commission's Filing Management Information System in accordance with the relevant regulations on overseas issuance and listing of domestic companies.At the same time, within 15 working days after completing overseas issuance and listing, some insurance companies should report the issuance and listing status through the China Securities Regulatory Commission's Filing Management Information System. The company shall strictly abide by relevant domestic and foreign laws, regulations and rules in the overseas issuance and listing process.
Furthermore, if there are insurance companies that have not completed overseas issuance and listing within 12 months from the date this filing notice is issued, they should update the filing materials if they intend to continue.
According to public information, Youjia Insurance is an artificial intelligence technology company that provides value-added services to insurance companies and insurance brokers. Its business mainly includes providing the following three services/products: i) digital promotion services, ii) risk assessment services, and iii) value-added bundled benefits.
An insurance company helps its institutional clients gain popularity on various social media platforms and generate revenue based on consumers' clicks, views, or customer promotion time through these channels. A group of insurance companies have also developed a unique algorithm and named it a “magic mirror” to calculate the risk of insurance companies' underwritten auto insurance payments.
Currently, an insurance customer base includes more than 300 municipal property and auto insurance companies across the country. In addition, about 200,000 insurance brokers use the company's products and services to conduct business every day. Insurance customers include China People's Insurance Company, Dajia Property Insurance Co., Ltd., China Pacific Property Insurance Co., Ltd., China Life Insurance Co., Ltd., Yongcheng Property Insurance Co., Ltd., and Yongcheng Property Insurance Co., Ltd.