CHINA STOCK
ALL Announcement IPOs Research Market Company

Southern Air Logistics Delisting from Shanghai Stock ExchangeIPO "terminated"

On February 21st, China Southern Airlines Logistics Co., Ltd. (referred to as Southern Airlines Logistics) changed its IPO review status on the Shanghai Stock Exchange main board to "terminated". Due to the withdrawal of the issuance and listing application by Southern Airlines Logistics and its sponsor, according to relevant provisions of the "Shanghai Stock Exchange Stock Issuance and Listing Review Rules" Article 63, the Shanghai Stock Exchange terminated its review for issuance and listing. The prospectus shows that Southern Airlines Logistics leverages a global route network, comprehensive air cargo hubs in Guangzhou, Shenzhen, and Shanghai, and builds a multi-level air cargo product system supported by a comprehensive information system, dedicated to providing safe, efficient, precise, and convenient air cargo services for domestic and foreign customers, and has become one of the leading domestic air cargo service providers. The company's main business can be divided into air express delivery, ground comprehensive services, and supply chain comprehensive solutions. In terms of finance, in 2020, 2021, 2022, and January-June 2023, Southern Airlines Logistics achieved operating income of approximately RMB 15.325 billion, RMB 19.688 billion, RMB 21.538 billion, and RMB 7.789 billion respectively; during the same period, the company achieved a net profit of approximately RMB 4.03 billion, RMB 5.658 billion, RMB 4.682 billion, and RMB 1.256 billion respectively.
21/02/2025

Hanbang Technology successfully passed the IPO review on the Shenzhen Stock Exchange. The company focuses on chromatography technology.

On February 21, Jiangsu Hanbang Technology Co., Ltd. (referred to as: Hanbang Technology) passed the listing committee meeting of the Shanghai Stock Exchange Science and Technology Innovation Board IPO. The sponsoring institution is CITIC SEC, and the planned fundraising is 598 million yuan. According to the prospectus, Hanbang Technology is a high-tech enterprise with chromatography technology as its core, integrating research and development, production, and sales. It is committed to "refined chromatography technology, dedicated to human health" and strives to "build the number one brand in the international chromatography industry". It mainly provides professional separation and purification equipment, consumables, application technical services, and related technical solutions for the pharmaceutical and life sciences industries. The company's funds raised this time will be invested in projects such as the production of 1000 liquid chromatography separation equipment, the construction of a chromatography separation equipment research and development center, and the production of 2000 laboratory chromatography separation purification instruments, which will help the company increase research and development investment, expand production scale, continuously enhance core product competitiveness, and achieve long-term healthy development. In recent years, Hanbang Technology has responded to downstream market demand for various equipment products in a timely manner with comprehensive product layout and leading customer service capabilities, actively exploring overseas markets, and has formed competitive pharmaceutical separation purification equipment products in the industry. Financially, in the fiscal years 2021, 2022, 2023, and January to June 2024, Hanbang Technology achieved operating revenues of approximately 321 million yuan, 482 million yuan, 619 million yuan, and 329 million yuan respectively. During the same period, the company achieved net profits of approximately 4.86 million yuan, 38.56 million yuan, 51.49 million yuan, and 37.68 million yuan respectively.
21/02/2025

CSRC approves Taily Technology's application for IPO on the Shenzhen Stock Exchange ChiNext board.

On February 21, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering of Guangdong Taili Technology Group Co., Ltd." It is reported that Taili Technology plans to list on the Shenzhen Stock Exchange's ChiNext board, with Minsheng Securities as the sponsor, and plans to raise 542.23 million yuan. According to the prospectus, Taili Technology is a high-tech enterprise focusing on the research and development of new materials and the industrial application of vacuum technology. Its main business includes R&D, production, and sales of a variety of home storage products and related functional materials, such as vacuum storage, wall-mounted items, modified atmosphere packaging, outdoor equipment, and safety protection. In terms of sales, the company mainly sells under its own brand, with the main sales area in China, while also actively expanding into overseas markets.
21/02/2025

A-share IPO | Huitong Holdings (603409.SH) opens IPO and has cooperated with BYD Company Limited, Chery, and other car companies

On February 21, Huatong Holdings (603409.SH) started its initial public offering (IPO) at a price of 24.18 yuan per share with a maximum limit of 12,500 shares. The company's price-to-earnings ratio is 20.72 times, and it is listed on the Shanghai Stock Exchange, with China International Capital Corporation Limited as its sponsor (lead underwriter). According to the prospectus, Huatong Holdings is mainly engaged in the research, development, production, and sales of automotive styling components and automotive acoustics products, as well as assembly of automotive wheels. Through years of technological accumulation and market development, the company has established first-tier cooperative relationships with various automobile manufacturers such as BYD Company Limited, Chery Automobile, Great Wall Motor, Anhui Jianghuai Automobile Group Corp., Ltd., NIO, Chery Jaguar Land Rover, LEAPMOTOR, Jietu Automobile, and Volkswagen (Anhui). The company's main products include automotive styling components, automotive acoustics products, and wheel assembly. Automotive styling components mainly include grilles, decorative strips, and emblems; automotive acoustics products mainly include headliners, carpets, sound insulation mats, trunk covers, and storage boxes; wheel assembly involves assembling tires, rims, tire pressure sensors, etc. according to the requirements of the original equipment manufacturers. During the reporting period, the company's business ecosystem continued to expand, forming stable first-tier cooperative relationships with many original equipment manufacturers. With the rapid development of domestic independent brand automobiles in the new energy vehicle field and Hefei's advantageous position in the new energy vehicle industry, the company's business has entered a period of rapid growth. After deducting issuance expenses, the funds raised in this offering will be used around the company's main business and invested in the following project construction in order of priority based on project funding needs: Financially, in 2019, 2020, 2021, and January-June 2022, the company achieved operating income of approximately 266 million yuan, 293 million yuan, 417 million yuan, and 255 million yuan respectively, with net profits of approximately 32.97 million yuan, 44.78 million yuan, 56.78 million yuan, and 62.41 million yuan respectively during the same period.
21/02/2025

CSRC approves Zhongjie Automobile's registration for IPO on the ChiNext Board

On February 18th, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering of Shares of Suzhou Zhongjie Automobile Parts Co., Ltd.". It is reported that Suzhou Zhongjie plans to be listed on the ChiNext board of the Shenzhen Stock Exchange, with Tianfeng as its sponsoring institution, aiming to raise 422 million yuan. Established in 2010, Zhongjie Automobile is a high-tech enterprise specializing in the research and development, production, and sales of precision processed parts for automotive thermal management systems. The company's main products include automotive air conditioning heat exchangers and pipeline system parts, oil cooler parts, heat pump system parts, and battery cooling parts, widely used in global mainstream automotive brands such as Mercedes-Benz, BMW, Audi, Tesla, Porsche, Volkswagen, Toyota, and BYD Company Limited. According to the prospectus, Zhongjie Automobile achieved rapid growth in revenue from global new energy automotive leader BYD Company Limited, reaching 7.081 million yuan in the first half of 2024. As of the end of the reporting period, the company's expected annual volume of in-hand projects for BYD Company Limited is 67.033 million yuan, including flanges, hard pipes, base plates, and assembly parts for battery cooling parts, as well as connector components for power battery system relays. Technological innovation is the core driving force for the sustainable development of Zhongjie Automobile. The company focuses on research and development investment, continuously introducing advanced production equipment and technical talents, forming a variety of core technologies including intelligent manufacturing technology, flexible production technology, precision processing technology, design innovation technology, and digitized management technology. The application of these technologies not only improves the company's production efficiency and product quality, but also enhances its market competitiveness.
20/02/2025

A-share subscription | Yutian Guanjia (301173.SZ) opens subscription as the second largest supplier in the domestic automotive sunroof market.

On February 20, Yutian Guanjia (301173.SZ) started its IPO at an issue price of 28.33 yuan per share, with a maximum subscription limit of 5,000 shares and a P/E ratio of 16.07 times. It belongs to the Shenzhen Stock Exchange ChiNext Board, with Guotai Junan Securities as the sponsor (lead underwriter). According to the prospectus, Yutian Guanjia is a manufacturer of automotive components specializing in sunroofs, with capabilities in design, research, and production of automotive sunroofs. They mainly serve domestic and foreign renowned automotive manufacturers in China, as well as some overseas OEMs, providing professional and comprehensive solutions for various automotive sunroofs and other automotive components as a premier tier-one supplier. The company's main products include panoramic sunroofs and small sunroofs, with panoramic sunroofs divided into top-mounted and bottom-mounted categories. Top-mounted panoramic sunroofs are products installed on the vehicle's top from the exterior, while bottom-mounted panoramic sunroofs are products installed on the vehicle's top from the interior. In 2023, Yutian Guanjia's sales of automotive sunroofs reached 2.31 million units, making it the second-largest supplier in the Chinese automotive sunroof market with a 16% market share, as indicated by a report from Head Leopard Research Institute on the global and Chinese automotive sunroof industry. Yutian Guanjia's main customers currently include Chongqing Changan Automobile, FAW Group, GEELY AUTO, Guangzhou Automobile Group, SAIC Volkswagen, Great Wall Motor, and Chery Automobile, among other well-known domestic OEMs. The raised funds, after deducting issuance expenses, will be invested in various projects based on their priority and urgency. Financially, Yutian Guanjia achieved operating revenues of approximately 1.694 billion yuan, 2.021 billion yuan, 2.491 billion yuan, and 1.08 billion yuan in 2021, 2022, 2023, and January to June 2024 respectively, with net profits of approximately 42.833 million yuan, 70.4209 million yuan, 159 million yuan, and 79.4701 million yuan during the same periods.
20/02/2025

Central Tire Rubber submits IPO registration to Shanghai Stock Exchange, owning several well-known tire brands domestically and internationally, such as "Chaoyang" and "Goodluck."

On February 17th, China National Chemical Corporation Rubber Corporation Limited (referred to as "CNR Rubber") applied for the change of IPO review status of the Shanghai Stock Exchange main board to "submit registration". China Securities Co., Ltd. is its sponsor, and it plans to raise 4.85 billion yuan. The prospectus shows that CNR Rubber is mainly engaged in the research, production, and sales of various tire products such as all-steel tires, semi-steel tires, bias tires, and tires. Since its establishment, the company has been committed to providing high-quality, high-performance, environmentally friendly and energy-efficient diversified tire products for domestic and foreign consumers, mainly including all-steel tires, semi-steel tires, bias tires, and tires. The company owns multiple well-known domestic and international brands such as "Chaoyang", "Goodride", "Weishi", "Dunlop", "Yadda", "Jin Guan", "WEST LAKE", "GOODRIDE", "CHAO YANG", "TRAZANO", etc. With a strong and comprehensive domestic and international marketing network, CNR Rubber's tire products cover most provinces and cities in China, and are exported to Europe, the Americas, Africa, Oceania, Southeast Asia, the Middle East, and other countries and regions around the world. Leveraging its good brand reputation and perfect service system, the company provides tire products to many well-known vehicle manufacturers such as FAW Jiefang Group, Beiqi Foton, SAIC Motor, Dongfeng Nissan, GEELY AUTO, Chongqing Changan Automobile, Great Wall Motor, BYD Company Limited, etc. After deducting the corresponding issuance expenses from the proceeds of this public offering, CNR Rubber will invest in the following projects in order of priority: In terms of finance, in 2021, 2022, 2023, and January-June 2024, CNR Rubber achieved operating income of approximately 30.601 billion yuan, 31.889 billion yuan, 35.252 billion yuan, and 18.518 billion yuan respectively. During the same period, the company achieved net profits of approximately 1.375 billion yuan, 1.225 billion yuan, 2.638 billion yuan, and 2.54 billion yuan respectively.
18/02/2025

A-share subscription | Changyou Technology (301557.SZ) opens subscription Focus on composite materials in the wind power and rail transit fields

On February 18, ComFriend Technology (301557.SZ) started the subscription, with an issue price of 28.88 yuan per share, a subscription limit of 11,000 shares, a P/E ratio of 15.7 times, and listed on the ChiNext board of the Shenzhen Stock Exchange. Haitong is the sponsor (lead underwriter). The prospectus shows that ComFriend Technology is mainly engaged in the research, development, production, and sales of high-polymer composite materials products and lightweight sandwich materials products. Its products mainly include wind turbine covers used in the wind power sector, lightweight sandwich materials used in wind turbine blade production, cover molds, and components for rail transit vehicles. Relying on rich experience in the application of high-polymer composite materials and lightweight sandwich materials, the company focuses on the supporting demand of emerging industries, continuously promotes product innovation, optimizes product structure, improves production base layout, expands product application areas, and forms a diversified structure covering wind power generation, rail transit, and other fields. The wind turbine cover products cover the product series of all mainstream models domestically, with production bases in Jiangsu, Hebei, Hunan, Inner Mongolia, Yunnan, Sichuan, Gansu, Guangxi, Heilongjiang, and other regions, radiating a good business layout across the country. The company has created a competitive advantage with strong R&D strength, diverse product portfolio, high reliability, and fast service response. In terms of sales, ComFriend Technology mainly uses a direct sales model to obtain orders through participating in bidding or business negotiations. The company's main customers include domestic well-known wind turbine generator manufacturers such as CRRC Corporation, Far East Energy, Shanghai Electric Wind Power Group, Windey Energy Technology Group, Sany Renewable Energy, Dongfang Electric Corporation, Goldwind Science & Technology, Ming Yang Smart Energy. The direct sales model helps the company understand customer needs, provide customized products and services, and establish long-term stable cooperation relationships. With strong competitive advantages, ComFriend Technology's industry position is steadily improving, especially in the wind turbine cover sector where the company has a strong competitive advantage and a high market share. In terms of cabin covers that constitute the highest proportion of wind turbine cover products, the market share based on the total wattage of this type of product sold from 2021 to 2023 is 17.63%, 33.67%, and 23.53%, respectively. After deducting the issuance expenses, the funds raised in this issue will be invested in the following projects: Financially, in 2021, 2022, 2023, and the first half of 2024, ComFriend Technology achieved operating revenues of approximately 620 million yuan, 740 million yuan, 871 million yuan, 446 million yuan, and net profits of approximately 61.82 million yuan, 87.53 million yuan, 82.60 million yuan, and 45.52 million yuan respectively.
18/02/2025

Mabwell's application for an IPO on the Shenzhen Stock Exchange has been "terminated (withdrawn)". The company is capable of providing a full chain CDMO service for antibody-drug conjugates.

On February 16, Yantai Mairui International Biopharmaceutical Co., Ltd. (Mairui) terminated its IPO on the Shenzhen Stock Exchange ChiNext board. This decision was made as Yantai Mairui International Biopharmaceutical Co., Ltd. and its sponsor withdrew their application for listing. According to the Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (Revised in 2024), the Shenzhen Stock Exchange decided to terminate the review process for its IPO. According to the prospectus, Mairui, established in 2013, is a contract development and manufacturing organization (CDMO) company focused on the field of biopharmaceuticals. The company specializes in providing professional, customized, and integrated CDMO services for biopharmaceuticals such as monoclonal antibodies, bispecific antibodies, multispecific antibodies, fusion proteins, antibody-drug conjugates, recombinant vaccines, and recombinant proteins. Their services cover the entire chain from early-stage research and development, cell line development, process development, analytical method development, quality research, clinical sample production, domestic and foreign IND/BLA filings to large-scale commercial production. The company has a strong competitive advantage in the field of biopharmaceutical CDMO, particularly in antibody-drug conjugates (ADC), and is one of the few companies globally that can provide full-service CDMO for ADCs. Mairui has been dedicated to the biopharmaceutical CDMO field for a long time and has built a comprehensive and integrated technical platform, including protein engineering and high-expression platforms, ADC development platforms, process and analytical method development, technology transfer, and GMP production platforms. They cover molecular optimization, early-stage drug evaluation, linker-toxin design and conjugation technologies, and have accumulated 34 authorized patents (including 22 invention patents) and 36 patents pending in 7 countries. Benefiting from a rich customer and project resource base, Mairui has established a solid market position in the domestic biopharmaceutical CDMO field. The compound annual growth rate of CDMO business revenue from 2020 to 2022 was approximately 51.88%. As of the end of 2022, the company has served over 140 different types of domestic and foreign clients and undertaken over 310 CDMO service projects at various stages. According to a Frost & Sullivan analysis report, WuXi Biologics has absolute dominance in the domestic biopharmaceutical CDMO field and was the largest biopharmaceutical CDMO company in China in 2021 (with a market share of 64.6%). Mairui had a market share of approximately 2.3% in the Chinese biopharmaceutical CDMO market in 2021 and ranked among the top three in the domestic antibody CDMO field. In addition, the company currently ranks second in terms of the total volume of bioreactors among domestic biopharmaceutical CDMO companies (calculated by multiplying the volume by the number of bioreactors at that volume, excluding pharmaceutical companies transitioning into CDMO business). Financially, in 2020, 2021, and 2022, Mairui achieved operating revenues of 217 million RMB, 388 million RMB, and 508 million RMB, respectively. During the same period, the company's net profit was approximately -4.04 million RMB, 60.53 million RMB, and 132.44 million RMB, respectively. As stated in the prospectus, Mairui may face risks of seasonal fluctuations in revenue and operating performance. During the reporting period, the company's main business revenue comes primarily from biopharmaceutical CDMO services, which exhibit seasonal characteristics due to factors such as business model and project progress. In the reporting period, the fourth quarter accounted for 28.39%, 53.58%, and 45.52% of the main business revenue, respectively, which is closely related to the completion of customer project milestones and the timing of customer confirmations. Additionally, as the company's expenses such as employee salaries and fixed asset depreciation occur relatively evenly throughout the year, the seasonal fluctuations in revenue could lead to lower profits or even losses, posing a seasonal risk to the company's operating performance.
17/02/2025

Vico Sports' IPO on the Shanghai Stock Exchange has been terminated. Vico Sports is a leading global ODM manufacturer for above-ground swimming pools.

On February 14th, the IPO review status of Wibo Sports Technology Group Co., Ltd. (referred to as "Wibo Sports") on the main board of the Shanghai Stock Exchange changed to "terminated." Due to the withdrawal of the IPO application by Wibo Sports and its sponsor, the Shanghai Stock Exchange terminated the review of its IPO issuance according to the relevant provisions of the "Shanghai Stock Exchange Stock Issuance and Listing Review Rules" Article 63. The prospectus shows that Wibo Sports is mainly engaged in the research and development, design, production, and sales of outdoor sports products such as core accessories for above-ground pools, outdoor sports products, and core accessories for inflatable sports products. The company is a leading global above-ground pool ODM manufacturer, deeply involved in the product development, design, and manufacturing process of the above-ground pool business. The core accessories of above-ground pools mainly include pool brackets, water treatment equipment, and pool-specific ladders, mainly serving the functions of supporting, water treatment, and entering and exiting the pool; outdoor sports products mainly include outdoor rocking chairs, swivel chairs, and folding chairs, mainly used in outdoor activities such as camping and backyard leisure; the core accessories of inflatable sports products mainly include motors and inflatable pumps, mainly serving the functions of inflation and deflation for inflatable products. With a product supply system built on years of manufacturing experience, market-oriented product design, excellent product quality, and comprehensive after-sales service capabilities, the company has achieved a leading position in the core accessories industry of above-ground pools. Wibo Sports currently holds a dominant position in the market for bracket core accessories of above-ground pools, with a market share of 50.20% in the global market in 2021, making it the largest producer of bracket core accessories for above-ground pools. After deducting issuance expenses from the funds raised in this offering, the funds will be invested in the following projects: Financially, in the fiscal years 2021, 2022, 2023, and January-June 2024, Wibo Sports realized operating income of approximately RMB 3.188 billion, RMB 2.3 billion, RMB 1.438 billion, and RMB 912 million respectively; during the same period, the company achieved net profits of approximately RMB 449 million, RMB 373 million, RMB 233 million, and RMB 158 million respectively.
14/02/2025
loading

©️2013 - 2025 GMT EIGHT Holdings. All Rights Reserved.

Contact: contact@gmteight.com