Sundom Co., Ltd., Xinyuan Co., Ltd., and Shida Shenghua have submitted applications to the Hong Kong Stock Exchange; Rongda Technology was forcibly suspended by the Hong Kong Stock Exchange | Early insights from the Hong Kong Stock Exchange

｜April 3, 2026, Friday｜

**NO.1 **Shengbang Co., Ltd., Xinpian Co., Ltd., Shida Shenghua, and others file with the HKEX

According to a notice from the HKEX on April 1, Shenzhen Shengbang Microelectronics (Beijing) Co., Ltd. (hereinafter referred to as Shengbang Co., Ltd., SZ300661), Shanghai Xinpian Microelectronics (hereinafter referred to as Xinpian Co., Ltd., SH688521), Shida Shenghua New Materials Group Co., Ltd. (hereinafter referred to as Shida Shenghua, SH603026), Shenzhen Yimei Zhike Technology Co., Ltd., Milian Technology Co., Ltd., Yongkang Holding Co., Ltd., and XREAL Ltd. have submitted listing applications to the main board of the HKEX, including three A-share listed companies. Shengbang Co., Ltd. is a comprehensive analog integrated circuit company. Xinpian Co., Ltd. is a leading listed company providing chip-customization solutions. Shida Shenghua is a comprehensive supplier of lithium-ion battery-related materials.

Commentary: Seven enterprises filed their applications with the HKEX in a concentrated manner. All of them can leverage Hong Kong stocks to broaden international financing and global expansion channels, and this also demonstrates the appeal of Hong Kong stocks to A-share listed companies in hard technology and new materials.

**NO.2 **Qianwen AI glasses receive OTA upgrade

On April 2, Qianwen AI (artificial intelligence) glasses under Alibaba-W (HK09988) received their first OTA (over-the-air) upgrade. They were connected with Taobao Flash Purchase and Alipay, and the first batch of “AI services” capabilities went live, including mobile phone top-ups, scan-to-ride, parking fee payment, and ordering takeout. This OTA upgrade covers Qianwen AI glasses G1 and Quark AI glasses G1, and will be pushed out successively starting today.

Commentary: This upgrade connects high-frequency scenarios such as e-commerce, payments, and lifestyle services. It helps shift AI hardware from an interaction tool to a practical entry point, which is conducive to improving user stickiness.

**NO.3 **Seres: total March vehicle sales were 27,500 units

On April 1, Seres (HK09927) released its March production and sales quick report on the HKEX. According to the announcement, in March 2026, the company’s total vehicle production was 26,600 units, up 4.49% year over year; and its total vehicle sales were 27,500 units, up 11.68% year over year. From January to March 2026, the company’s total vehicle production was 86,700 units, up 26.47% year over year; and its total vehicle sales were 88,400 units, up 29.37% year over year.

Commentary: In the first quarter, Seres’ production and sales rose by nearly 30% year over year. The growth rates in new energy and AITO led the way, while the overall growth remained steady.

**NO.4 **Rongda Technology forced suspension by the HKEX

In the morning of April 1, Xiamen intelligent manufacturing company Rongda Ganzhong (Xiamen) Technology Group Co., Ltd. (hereinafter referred to as Rongda Technology, HK09881) issued an announcement on the HKEX. Starting at 9:00 a.m. that morning, trading of its H shares on the HKEX was paused. The reason was that it failed to publish its 2025 annual performance report on time, triggering the HKEX listing rules requiring a forced suspension.

Commentary: Rongda Technology was suspended due to overdue performance reporting less than one year after listing, reflecting issues in internal controls and audit shortcomings exposed after some small and medium-sized enterprises listed in Hong Kong.

**NO.5 **Hong Kong stock market update:

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The Daily Economic News