I have in a previous life had to deal with this sort of stuff.
Without research, it would appear to be a related entity transaction (in this case, umbrella company to subsidiary) so I would not take much away from the price unless you have evidence otherwise.
The Chinese government makes it very difficult to move capital outside China, so the regulatory requirement reference is likely to be from China.
I would be inclined to think it was for the convenience of accessing capital in a different jurisdiction, but it might have something to do with being better aligned with Jianmin Phama's purpose.
I am not aware of any disclosures that need to be made to the ASX or FIRB, but I might be wrong.
HMD Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
