香港 -- 香港证监会表示，正对其怀疑参与首次公开发行（IPO）操纵的各方采取行动，表明对该金融中心IPO热潮的监管将趋严。
HONG KONG -- Hong Kong's Securities and Futures Commission said it is taking action against parties it suspects were involved in rigging of initial public offerings, signaling tighter scrutiny of the financial hub's IPO boom.
此举正值香港当局日益对部分IPO交易的质量及上市后股票表现疲弱提出担忧之时。该市仍有大量IPO候选企业：据香港交易及结算所统计，截至9月底，有590家公司的上市申请正在审理中。
The move comes as Hong Kong authorities have increasingly flagged concerns over the quality of some IPO deals and lackluster post-listing stock performance. The city still has a long list of IPO candidates: According to Hong Kong Exchanges and Clearing, 590 companies' listing applications were being processed as of the end of September.
证监会周二在声明中表示，两个团体被怀疑参与“制造股份需求虚假或人为表象的欺诈行为”。针对第一个团体，证监会称已向六家经纪公司发出限制通知，禁止其处理或处置最高达44亿港元（5.6亿美元）的资产，这是该监管机构历史上规模最大的此类命令。这些资产与一名叫孙然的女子及八家关联公司有关联。
In a statement on Tuesday, the SFC said two groups are suspected of involvement in "fraudulent schemes to create a false or artificial appearance of demand for shares." For the first group, the SFC said it issued restriction notices to six brokers, prohibiting them from dealing with or processing assets of up to HK$4.4 billion ($560 million), marking the largest such order in the regulator's history. The assets are linked to a woman called Sun Ran and eight other related companies.
证监会补充称，亦已向29家经纪公司发出限制通知，禁止其处理或处置最高达2.85亿港元的资产，这些资产与一名叫刘浩然的男子及两家其他公司有关联。
The SFC added that it has also issued restriction notices to 29 brokers prohibiting them from dealing with or processing assets worth up to HK$285 million, linked to a man by the name of Liu Haoran and two other companies.
声明称，这些团体涉及三宗上市的欺诈行为：中国奶茶连锁品牌四川百茶百道（亦称ChaPanda）、临床阶段眼科药物公司Cloudbreak Pharma，以及天聚地合（苏州）科技有限公司——一家数据分析公司。
The statement said the groups were involved in fraudulent schemes related to three listings: Chinese bubble tea chain Sichuan Baicha Baidao, also known as ChaPanda, clinical-stage eye drug company Cloudbreak Pharma, and Tianju Dihe (Suzhou) Technology Co., a data analytics company.
第一个团体被怀疑操纵了百茶和Cloudbreak的上市，而第二个团体据称操纵了天聚地合的IPO。
The first group is suspected of rigging the Baicha and Cloudbreak's listings, while the second syndicate allegedly manipulated Tianju Dihe's IPO.
周二上午，百茶根据公司备案文件表示，其股份因证监会指令已被香港交易所暂停交易。备案文件未对暂停原因作进一步说明。
On Tuesday morning, Baicha said its shares had been suspended from trading by the Hong Kong Exchange by SFC order, according to a company filing. The filing did not elaborate on the reason for the suspension.
证监会在其声明中表示，对白茶的IPO可能被操纵以制造对其股票需求的虚假印象存在严重担忧，称暂停交易是维护公平市场和保护投资者利益所必需的。
"The SFC has serious concerns that Baicha's IPO may have been rigged to create an artificial impression of demand for Baicha's shares," the SFC said in its statement, calling the suspension "necessary" to maintain a fair market and protect investor interests.
白茶于2024年4月在香港上市，其股价在首日交易时曾较IPO价下跌多达40%。周一收盘价为每股4.03港元，较上市价低超过70%。
Baicha listed in Hong Kong in April 2024 and saw its shares drop as much as 40% from the IPO price during its first day of trading. The shares closed at HK$4.03 per share on Monday, more than 70% below its listing price.
云断公司的股票上个月被暂停交易。该公司上个月在一份文件中表示，正在对其IPO可能被操纵的情况进行内部调查，并已成立独立特别委员会。在另一份文件中，该公司还表示，其2026年中期财务报告将被延迟。
Cloudbreak's shares were suspended from trading last month. The company said in a filing last month that it is conducting an internal investigation on the potential rigging of its IPO and has formed an independent special committee. In a separate filing, it also said its 2026 interim financial results will be delayed.
针对IPO操纵的行动是在证监会与香港反腐败部门于3月进行的一系列逮捕行动之后展开的。当时，警方突袭了三家中国证券经纪公司，并逮捕了八人，作为对涉嫌内幕交易和贿赂的广泛调查的一部分。
The actions against IPO rigging followed a series of arrests made by the SFC and Hong Kong's anti-corruption unit in March. At the time, officers raided three Chinese securities brokers and made eight arrests as part of a sweeping investigation into suspected insider trading and bribery.