The China Securities Regulatory Commission (CSRC) approved Xingyu Co., Ltd.'s overseas listing on August 15. However, the company recently faced controversy for terminating contracts with 107 fresh graduates, leading to complaints filed with the EU and HKEX. On August 25, the Changzhou Human Resources and Social Security Bureau confirmed that Xingyu's "methods were crude and simplistic." Xingyu subsequently apologized and offered compensation on August 27. Furthermore, the company's prospectus revealed that its proportion of dispatched workers exceeded the legal limit at the end of 2025, and it had issues with underpayment of social security and housing provident funds. Between 2023 and 2025, Xingyu received 451 million yuan in government subsidies, including for employment support projects. These labor compliance issues could impact its HKEX listing process.