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Prospectus verification · Hong Kong listings

Accurate. Complete. Verified.

The standard every Hong Kong prospectus is held to. Cogent Base checks a draft against it: every statement traced to the page and the paragraph that supports it, each content requirement traced to the statement that meets it.

Book a demo How it works
Draft prospectus · Business · p. 142

We held 12 exploration licences covering 3,410 sq km as at 30 June 2026.

Supported DR-0412 · P. 3

Requirement · Right to explore Met by P. 142 ¶ 2

Accept Edit Decline

Revenue rose 18.2% in FY2025,

Supported DR-0219 · P. 47

driven by higher realised gold prices.

Weak source DR-0533 · P. 2 Management explanation only

We are not aware of any material breach of environmental laws.

Unsupported No source found · Flagged

01 / The problem

Lawyers spend thousands of hours verifying an HKEX IPO prospectus.

02 / How it works

  1. 01

    Sources

    Reads the issuer’s supporting documents. Scanned pages and pictures are recovered with OCR, and every document is classified and weighed as evidence.

  2. 02

    Statements

    Breaks the draft prospectus into verifiable statements: facts, figures, and opinions with their stated basis.

  3. 03

    Match

    Finds the passage in the sources that supports each statement.

  4. 04

    Check and review

    A reviewer mechanism checks each claim against the exact page it cites, and flags what it cannot support. A human accepts, edits or declines every claim.

  5. 05

    Requirements

    Maps the draft against the Listing Rules content requirements, so each requirement points to the statements that meet it, or shows that none do.

03 / One chain

Requirement → statement → source.

Each requirement links to the statements that meet it. Each statement links to the page that supports it. A gap shows as a broken link.

  1. Right to explore

    1. We held 12 exploration licences covering 3,410 sq km as at 30 June 2026.

      DR-0412 · P. 3Supported

  2. Results of operations

    1. Revenue rose 18.2% in FY2025,

      DR-0219 · P. 47Supported

    2. driven by higher realised gold prices.

      DR-0533 · P. 2Weak source

  3. Environmental compliance

    1. We are not aware of any material breach of environmental laws.

      UnsupportedNo source found

  4. Working capital

    Not met

Illustrative. Sample data.

04 / What doesn’t change

Responsibility doesn’t move.

Cogent Base traces and checks. People judge materiality, decide what would mislead, and sign. Nothing in it changes who is responsible for a prospectus, or what your verification process requires.

05 / Commercial model

One global contract with a law firm.
No seat or usage limits.

06 / Deployment and data

Where it runs.

  • Today’s engine runs open-weight models served inside the deployment. No calls to third-party model APIs.

  • Each client’s documents sit in an isolated corpus.

07 / Team

A team that spans Hong Kong and Kazakhstan.

  • Serikbolsyn Mustafin

    Chief Executive Officer

    Previously at Citi. Led listings sales at Astana International Exchange. As Head of Corporate Finance at a single family office, took a company through a HKEX Main Board listing from the issuer side. Founded a fintech startup, Gourmet, and sold it to Tarlan Payments.

  • Vincent Chow

    Chief Product Officer

    Former SFC-licensed representative (Types 1 and 6). Corporate finance at Southwest Securities (HK) Capital and GF Securities; IPO audit at BDO Hong Kong. CPA, FMVA.

  • Asset Yespolov

    Chief Technology Officer

    Machine-learning engineer. Previously Senior Data Scientist at EPAM. Built entity-resolution systems over hundreds of millions of records, graph-based fraud detection and production MLOps. EUROMATH competition gold medallist.

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