CHINA STOCK
ALL Announcement IPOs Research Market Company

Shield Source Core's Shenzhen Stock Exchange IPO "terminated (withdrawn)"

On January 21st, Ningxia Dunyuan Juxin Semiconductor Technology Co., Ltd. (referred to as Dunyuan Juxin) officially withdrew its application for listing on the main board of the Shenzhen Stock Exchange, resulting in the IPO review status being changed to "terminated (withdrawn)." According to the Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (revised in 2024), the Shenzhen Stock Exchange made the decision to terminate the IPO review. According to the prospectus, Dunyuan Juxin is mainly engaged in the research, development, production, and sales of silicon components and quartz crucibles. The company's main products include silicon component products, silicon component material products, and high-purity quartz crucible products. The company's silicon component products are mainly targeted towards chip equipment manufacturers and chip manufacturing companies, including products such as silicon rings, silicon spray heads, silicon outer rings, silicon boats, silicon boat bases, silicon inner tubes, silicon spray tubes, etc. These products are widely used in etching equipment, thermal processing equipment (thermal oxidation, annealing, diffusion), and low-pressure chemical vapor deposition and other chip processing equipment. In addition, the company's silicon component material products are mainly aimed at silicon component companies, and the company's silicon component materials are not only used for internal purposes but also sold externally. The main application scenario of quartz crucibles is in the production process of single crystal silicon (Czochralski method), with products mainly divided into semiconductor quartz crucibles and CECEP Solar Energy quartz crucibles, widely used in the production process of semiconductor and CECEP Solar Energy single crystal silicon rods. During the reporting period, the company's important customers included Customer A, ATC, SKC Solmics, TEL, TSMC, Advanced Micro-Fabrication Equipment Inc. China, Crystalwise, Global Wafer, Japan Magnetic Control, among others, and the company has established good cooperation with top customers worldwide. If the IPO had been successful, the net proceeds raised after deducting related issuance expenses were intended to be used for the following projects: On the financial side, in 2021, 2022, 2023, and January-June 2024, Dunyuan Juxin achieved operating income of approximately 602 million yuan, 1.092 billion yuan, 1.316 billion yuan, and 757 million yuan respectively. During the same period, the company achieved net profits of 99.498 million yuan, 284 million yuan, 263 million yuan, and 71.956 million yuan respectively.
21/01/2025

Hengkun New Materials' Science and Technology Innovation Board IPO has been "inquired". It focuses on key materials in the integrated circuit field.

On January 18, Xiamen Hengkun New Materials Technology Co., Ltd. (referred to as Hengkun New Materials) applied for a change in the status of the Shanghai Stock Exchange Science and Technology Innovation Board listing review to "inquiry received". China Securities Co., Ltd. serves as the sponsor, with plans to raise 1.2 billion yuan. According to the prospectus, Hengkun New Materials is committed to the research and industrial application of key materials in the field of integrated circuits, and is one of the few innovative enterprises in China with the research and mass production capabilities for key materials in 12-inch integrated circuit wafer manufacturing. The company mainly engages in the research, production, and sales of photolithography materials and precursor materials such as SOC, BARC, KrF photoresist, i-Line photoresist, and TEOS, which are mainly used in the photolithography and film deposition processes for the production of advanced NAND, DRAM memory chips, and logic chips with a technology node of 90nm or below. Additionally, against the backdrop of increasing domestic demand for the replacement of the integrated circuit industry, and in order to quickly acquire customer resources, as well as accumulate product introduction and quality control experience, the company has introduced overseas products, focusing on the introduction and sale of photolithography materials, precursor materials, electronic special gases, and other wet electronic chemicals, thereby innovatively following a development path of "introduction, digestion, absorption, and re-innovation". During the reporting period, the company's customers included several leading wafer factories in China, achieving the substitution of foreign products and breaking the foreign monopoly on key materials in 12-inch integrated circuits. The raised funds, after deducting issuance expenses, will be invested in projects based on their urgency and importance. Financially, in the years 2021, 2022, 2023, and the first 6 months of 2024, Hengkun New Materials is expected to achieve operating income of approximately 141 million, 322 million, 368 million, and 238 million yuan respectively; while net profits are projected to be 26.56 million, 99.72 million, 89.76 million, and 44.09 million yuan.
20/01/2025

Guangzhou Bank's Shenzhen Stock Exchange Main Board IPO "terminated (withdrawn)"

On January 17th, Guangzhou Bank Co., Ltd. (referred to as Guangzhou Bank) had its IPO application status on the Shenzhen Stock Exchange changed to "terminated (withdrawn)." Due to Guangzhou Bank and its sponsor withdrawing the application for listing, the Shenzhen Stock Exchange decided to terminate its IPO review. According to the prospectus, Guangzhou Bank is a city commercial bank mainly operating in Guangdong Province. Its main business includes corporate finance, retail finance, and financial market services. The corporate finance business mainly includes corporate loans, corporate deposits, intermediary services, and corporate finance special services; the retail finance business mainly includes personal loans (including credit card services), personal deposits, personal settlement services, debit card services, intermediary services, and retail finance special services; the financial market services mainly include interbank market services, interbank market services, bill trading services, asset management services, and investment banking services. As of June 30, 2022, Guangzhou Bank's total assets were 727.395 billion yuan, with shareholders' equity of 51.264 billion yuan. The bank's main operating area is in Guangdong Province. As of December 31, 2021, the total assets of the banking industry in Guangdong Province were 32 trillion yuan, an 8.3% year-on-year increase; the balance of various deposits in domestic and foreign currencies was 29.3 trillion yuan, a 9.5% year-on-year increase; the balance of various loans in domestic and foreign currencies was 22.2 trillion yuan, a 13.6% year-on-year increase, with long- and medium-term loans to enterprises adding 1.1 trillion yuan. Financial institutions have strengthened their support for key areas and weak links in the supply-side structural reform, continuously optimizing the credit structure, and enhancing their support for the real economy. In terms of financial performance, from 2019 to June 2022, Guangzhou Bank achieved operating income of approximately 13.379 billion yuan, 14.918 billion yuan, 16.564 billion yuan, and 8.776 billion yuan respectively; during the same period, the company achieved net profits of 4.324 billion yuan, 4.455 billion yuan, 4.101 billion yuan, and 1.584 billion yuan respectively.
17/01/2025

The China Securities Regulatory Commission (CSRC) approved Xinkai Technology's initial public offering (IPO) registration on the Shenzhen Stock Exchange main board.

On January 17, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering of Zhejiang Xinkai Technology Group Co., Ltd." It is reported that Xinkai Technology plans to be listed on the main board of the Shenzhen Stock Exchange, with Anxin Securities as the IPO sponsor, aiming to raise 2.6463 billion yuan. The prospectus shows that Xinkai Technology is mainly engaged in the development, sales, and service of organic pigments and other colorants. The company's core competitiveness lies in product development, quality management, supply chain integration, and global sales network layout. Its main products include azo pigments, heterocyclic pigments, phthalocyanine pigments, which are mainly used in the fields of ink, coatings, and plastics. The company has more than 450 specifications of pigment products, which are characterized by lightfastness, heat resistance, weather resistance, migration resistance, environmental friendliness, and high safety performance. The products are mainly used for coloring inks, coatings, plastics, and specialty chemicals. With its product development and service capabilities, the company has established long-term cooperative relationships with international large enterprises such as DIC Corporation, Flint Group, Sensient Technologies, Huntsman Corporation, Xuanwei Group, Dyo Ink, Sakata Ink, and Yinguai Technologies, and has strong brand influence in the industry.
17/01/2025

The Deep Planning Institute's GEM IPO "canceled (withdrawn)" focuses on urban planning and design.

On January 16, Shenzhen Urban Planning and Design Research Institute Co., Ltd. (referred to as Shenzhen Urban Planning Institute) had its IPO review status on the Shenzhen Stock Exchange's Growth Enterprise Board changed to "terminated (withdrawn)". Due to the withdrawal of the issuance and listing application by Shenzhen Urban Planning Institute and the sponsor, in accordance with Article 62 of the Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision), the Shenzhen Stock Exchange decided to terminate its issuance and listing review. The prospectus shows that Shenzhen Urban Planning Institute focuses on urban planning and design, focusing on addressing complex issues arising in the process of urban development, with a business structure primarily centered around planning and design, supported by engineering design and operational services. The company already holds qualifications in urban and rural planning class A, engineering design (municipal industry road engineering class A, landscape architecture engineering design specialized class A, construction industry construction engineering class B, municipal industry water supply engineering class B, municipal industry drainage engineering class B), surveying (geographic information system engineering class A), engineering consulting unit class A credit (municipal public works, others (planning)) and land planning agency class B, among others. The company's business is focused on Shenzhen and the Greater Bay Area of Guangdong, Hong Kong, and Macau, expanding nationwide and serving long-term planning work in national key areas such as Xiong'an New Area, Qianhai Free Trade Zone, and Shenshan Special Cooperation Zone. During the reporting period, the revenue from the planning and design business accounted for over 80%, being the primary source of income. As of the end of 2023, there were over 800 enterprises in China that met the criteria for class A urban and rural planning qualification, with a large number of market participants and significant marketization of the industry. Compared to comparable listed companies in the same industry, the issuer has significant advantages in terms of revenue scale, number of employees, proportion of employees with master's degrees and above, number of invention patents and software copyrights, and number of national awards. In terms of finances, in the fiscal years 2021, 2022, and 2023, Shenzhen Urban Planning Institute achieved operating revenues of approximately 798 million yuan, 868 million yuan, and 930 million yuan respectively; during the same period, the company achieved net profits of 69.6034 million yuan, 78.1583 million yuan, and 84.899 million yuan respectively.
17/01/2025

A-share subscription | Honghai Technology (920108.BJ) opens subscription and establishes cooperation relationship with major customers such as Midea and Haier.

On January 17, Honghai Technology (920108.BJ) started its subscription with an issue price of 5.57 yuan per share and a subscription limit of 950,000 shares. The price-earnings ratio is 14.99 times. It belongs to the Beijing Exchange, with China Securities Co., Ltd. as the sponsor (lead underwriter). The prospectus shows that Honghai Technology's main business is the research and development, design, manufacturing, and sales of components for home appliances such as air conditioning structural parts, heat exchangers, and display components. Honghai Technology has a team of experienced mold developers in the industry, with outstanding capabilities in independent and synchronous mold development. They are able to meet diverse and non-standard customer needs, specializing in the design and manufacturing of precision continuous molds, stretch molds, large, medium, and small forming molds, as well as thick plate punching dies. The company's innovative mold technology such as mold tooth tapping, mold riveting, and mold monitoring can improve the efficiency and quality of the mold manufacturing process, reduce production costs, and establish a competitive advantage. The company was one of the earliest in the country to shift its production process from single-process intensive to continuous mold and robotic automation, improving product processing consistency, intelligence, and precision, enhancing production efficiency and capacity, and raising downstream customers' assembly efficiency and yield. The company was also one of the earlier enterprises in China's home appliance structural components production industry to develop and use energy storage welding technology, which features high heating rates, low energy consumption, enhanced welding strength, and reduced weld detachment risk. In terms of heat exchanger products, the company has accumulated techniques such as ultra-high precision double-position automatic feeding, non-shrinkage servo double-position expanding tube, and non-chip cutting ring cleaning-free processes, enabling the automation of air conditioning heat exchanger production, streamlining the required workstations and processes, strengthening production line adaptability and flexibility, improving product yield, and environmentally friendly production. Honghai Technology has complete production facilities, high automation levels in production, comprehensive testing methods, and a workforce with rich experience in production, management, and research and development. With top-notch product quality resulting from its own technological innovation, superb production management capabilities, and fast responsiveness, the company has established long-term stable cooperative relationships with major customers such as Midea, Haier, TPV Technology, etc. By deeply integrating its production with downstream customers' timely supply and production modes, the company operates on a sales-based production model, allowing for rapid and accurate delivery of products based on customer demand, down to hourly precision. This enhances production efficiency, while ensuring quality and quantity to fulfill customer orders. Over the years, the company has been awarded "Global Strategic Partner", "Golden Magic Cube", "Excellent Supporting Award", "Best Partner", "Excellent Module Supplier", and other outstanding supplier awards by core customers. In terms of finances, in 2021, 2022, 2023, and January-June 2024, Honghai Technology achieved operating income of approximately RMB 188 million, RMB 253 million, RMB 350 million, and RMB 231 million respectively. The net profits for the same periods were approximately RMB 25.63 million, RMB 26.66 million, RMB 48.72 million, and RMB 45.24 million respectively.
17/01/2025

China Securities Regulatory Commission (CSRC) approves Zhejiang Huaye's registration for initial public offering (IPO) on the Shenzhen Stock Exchange's ChiNext board.

On January 16th, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering Registration of Zhejiang Huaye Plastic Machinery Co., Ltd." It is reported that Zhejiang Huaye plans to be listed on the ChiNext board of the Shenzhen Stock Exchange, with Haitong as its sponsoring institution, aiming to raise 672 million yuan. According to the prospectus, Zhejiang Huaye is deeply involved in the plastic machinery parts industry, mainly engaged in the research, development, production, and sales of core components of plastic molding equipment. Its main products include screws, barrels, columns, and related components for plastic molding equipment, primarily used in injection molding machines, extruders, and other plastic molding equipment. Injection molding equipment (also known as injection molding machines) is an important branch of the plastic machinery industry in China, with the highest production output, highest value, and most exports. The plastic products produced by injection molding equipment can be widely used in automotive, household appliances, 3C products, plastic packaging, plastic building materials, and other fields.
16/01/2025

Force Power's inclusion in the GEM IPO "under inquiry", committed to increasing the green component of industrial power supplies.

On January 15, Jiangxi Liyuan Haina Technology Co., Ltd. (Liyuan Haina) applied to the Shenzhen Stock Exchange for a change in the status of its listing review to "inquiry completed." CMSC is its sponsor institution, and it plans to raise 1.18057 billion yuan. The prospectus shows that Liyuan Haina's main business is the research, development, production, and sales of industrial power supply products, including high-frequency switch power supplies, high-speed pulse power supplies, and other power supplies. The company's products are mainly used in industries such as lithium batteries, high-precision electronic copper foil, PCB equipment, ultra-pure electronic gases, metal and rare earth smelting, high-end surface treatment, environmental protection, and water treatment. Since 2022, the company has focused on expanding its presence in new energy fields such as photovoltaics, electrolytic hydrogen production, and wave power generation, and has strengthened research and development in high-precision high-speed power supplies for semiconductor wafers, high-purity silicon carbide substrate heating power supplies, radio frequency power supplies, differentiated energy storage, etc. The company adheres to the concept of "pursuing technological innovation, continuously creating value," and is committed to improving the energy-saving, green, and intelligent development level of industrial power equipment in various fields, and constantly promoting the localization process of high-end industrial power equipment. In the field of PCB equipment, the company's PCB electroplating power supply products can provide high-precision, high-stability current output for PCB manufacturing, used in PCB manufacturing high aspect ratio through-holes, blind holes, and filling hole electroplating processes, effectively addressing the difficulty in forming high-quality electrical connections in PCB products under the trend of high aspect ratio. According to data from the China Electronic Circuit Association, in 2022, the company's revenue from PCB equipment industrial power supplies ranks 20th in the list of leading specialized PCB equipment and instrument companies, being the only power equipment manufacturer on the list; at the same time, more than 80 of the top 100 comprehensive PCB companies in the China electronic circuit industry ranking list are customers of the company. After deducting issuance expenses from the funds raised in this offering, the funds will be invested in the following projects: Financially, Liyuan Haina realized operating income of approximately 380 million yuan, 493 million yuan, 591 million yuan, and 262 million yuan in 2021, 2022, 2023, and January-June 2024, respectively; during the same period, net profits were 103 million yuan, 125 million yuan, 153 million yuan, and 41.27 million yuan, respectively.
16/01/2025

A-share subscription | Yalian Machinery (001395.SZ) opens subscription and successfully achieves domestic substitution of high-end equipment for artificial board production lines.

On January 16, Yalian Machinery (001395.SZ) started its subscription with an issue price of 19.08 yuan per share, a subscription limit of 7,500 shares, a P/E ratio of 17.08 times, listed on the Shenzhen Stock Exchange, and Ping An Securities as the sponsor (lead underwriter). The prospectus shows that Yalian Machinery is a supplier and service provider of complete solutions for the production equipment of artificial board. Its main business is the research and development, production, sales, and service of artificial board production lines and supporting equipment. The company's core product is continuous hot press production lines, and it also provides steel strip products and retrofit services according to customer demand, providing equipment and technical support for downstream enterprises producing fiberboard, particleboard, and other new materials. There are few companies in the industry with the capability of complete production of artificial board production lines, and the concentration is high. The domestic market for artificial board production line equipment has a competitive landscape of strong multinational companies and local advantage enterprises coexisting, with the market mainly dominated by Dieffenbacher, Shanghai Board Machine, Xinbei Kangpu, and Yalian Machinery, among which Shanghai Board Machine is a subsidiary of Dieffenbacher. Yalian Machinery has mastered key equipment manufacturing technology and system integration technology in the field of artificial board equipment manufacturing, successfully realizing domestic substitution for high-end equipment in artificial board production lines. The company has introduced industry-leading products such as the world's first thin bamboo particleboard production line, the world's first industrially produced continuous hot press reed particleboard production line, 0.8mm ultra-thin fiberboard production line, and continuous hot press production line for decorative wood-based reconstituted materials. According to data released by the Forestry and Grassland Bureau's Forestry Industry Planning and Design Institute and the Forestry Engineering and Equipment Professional Committee of the China Forestry Industry Association, Yalian Machinery's market share for continuous hot press fiberboard and particleboard production lines commissioned from 2017 to 2023 are 48.08% and 28.72% respectively, ranking first and second in the industry. In terms of financials, in 2021, 2022, 2023, and the first 6 months of 2024, the company achieved operating revenues of approximately 522 million yuan, 480 million yuan, 647 million yuan, and 442 million yuan respectively, with net profits of approximately 83.86 million yuan, 87.37 million yuan, 103 million yuan, and 81.68 million yuan during the same periods.
16/01/2025

A-share subscription | Hai Bosic (688411.SH) opens for subscription, adding new impetus to the green development of energy storage.

On January 16th, Haiboshichuang (688411.SH) started its subscription, with an issue price of 19.38 yuan per share and a subscription limit of 11,000 shares. The P/E ratio is 6.14 times, it is listed on the Shanghai Stock Exchange, and Zhongtai is its sponsor (lead underwriter). According to the prospectus, Haiboshichuang is a leading domestic provider of electrochemical energy storage system solutions and technical services, focusing on the research, development, production, and sales of electrochemical energy storage systems. It provides a full range of energy storage system products for traditional power generation, new energy generation, smart grids, and end-users in the entire energy chain industry, offering one-stop energy storage system solutions. During the reporting period, the company also provided power battery system products to customers in the new energy engineering machinery and new energy vehicle fields. The company's main business revenue mainly comes from the production and sales of energy storage systems. During the reporting period, the revenue from energy storage systems was 653.335 million yuan, 2.456 billion yuan, 6.927 billion yuan, and 3.649 billion yuan, accounting for 78.52%, 94.61%, 99.30%, and 99.04% of the main business revenue, respectively. The average compound annual growth rate from 2021 to 2023 reached 225.62%. The company has a high brand awareness and strong market competitiveness in the field of domestic electrochemical energy storage systems. According to CNESA statistics, the issuer ranked second in the 2023 China Energy Storage System Integrators shipment ranking (the issuer's shipment data does not include sales to New Source Smart Energy Storage). In the 2022 and 2021 domestic market energy storage system shipment rankings, the issuer ranked first. In terms of finances, in 2021, 2022, 2023, and January to June 2024, the company achieved operating income of approximately RMB 838 million, 2.626 billion yuan, 6.982 billion yuan, and 3.687 billion yuan respectively. During the same period, the net profit was approximately 15.2947 million yuan, 1.82 billion yuan, 5.78 billion yuan, and 2.8 billion yuan.
16/01/2025
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