Because Li Peng Biomedical Technology (Shanghai) Co., Ltd. is a limited liability company (wholly owned by Taiwan, Hong Kong and Macao).
A limited liability company itself cannot be listed. From the organizational form of the company, the company is divided into limited liability company and joint stock limited company. Only joint stock companies have the basic conditions for listing. Therefore, if a limited liability company wants to go public, the first thing to do is to transform the limited liability company into a joint stock limited company.