Taijin New Energy's Science and Technology Innovation Board IPO has been questioned. It is mainly engaged in the research, development, production, and sales of high-end green electrolysis equipment, titanium electrodes, and metal glass sealing products.

On July 12th, Xi'an Taijin Xineng Technology Co., Ltd. (referred to as "Taijin Xineng") applied for a change in the status of the Shanghai Stock Exchange's science and technology innovation board listing review to "questioned". China Securities Co., Ltd. is its sponsoring institution, and it plans to raise 1.5 billion yuan. According to the prospectus, Taijin Xineng is mainly engaged in the research, design, production, and sales of high-end green electrolysis complete equipment, titanium electrodes, and metal glass sealing products. It is a leading enterprise internationally that can provide overall solutions for high-performance electronic circuit copper foil and ultra-thin lithium battery copper foil production lines and a major research and production base for composite materials of precious metal titanium electrodes and electronic sealing glass materials in China. The company's products are used in various fields such as large computers, 5G high-frequency communication, consumer electronics, new energy vehicles, green environmental protection, aluminum foil processing, wet metallurgy, hydrogen energy, aerospace, and military industries. During the reporting period, Taijin Xineng's main business income continued to grow, mainly from the sales of high-end green electrolysis complete equipment, titanium electrodes, and metal glass sealing products. The details are as follows: The company's customers are mainly distributed in industries such as electrolytic copper foil, green environmental protection, aluminum foil processing, wet metallurgy, aerospace, and military industries. The company's main domestic customers for high-end electrolysis complete equipment include BYD Company Limited, Guangdong Jiayuan Technology, Hubei Zhongyi Technology Inc., Zhejiang Hailiang, Anhui Tongguan Copper Foil Group, Jiangxi Copper Foil, and Jiangxi Copper Bo, among others; the main domestic customers for titanium electrodes and glass sealing products include Qingdao Shuangrui, Jinchuan Group, Zhejiang Huayou Cobalt, Qingshan Group, Zhongyuan Changjiang, Zhongdianke, Aerospace Hi-Tech Holding Group, among others. At the same time, the company's main overseas customers for electrolysis complete equipment include Solvay Advanced Materials-Hungary, Luxshare Circuit Foil Industry Company Limited, and Kingbox Development Co., Ltd.; the main overseas customers for titanium electrodes and glass sealing products include Masco Corporation in the United States and Lotte Energy Materials Co., Ltd. in South Korea. The funds raised from this new stock issuance will be invested in the following projects: Financially, Taijin Xineng is expected to achieve operating income of approximately 519 million yuan, 1.005 billion yuan, and 1.669 billion yuan in 2021, 2022, and 2023 respectively. During the same period, the company is projected to achieve net profits of approximately 54.9828 million yuan, 98.2936 million yuan, and 155 million yuan respectively. As mentioned in the prospectus by Taijin Xineng, the company may face risks from fluctuations in the prices of its main raw materials. The company's main raw materials include basic materials, precious metals, and auxiliary materials. Basic materials mainly include titanium, copper, stainless steel, and metal materials; precious metals include iridium, ruthenium, platinum, and other metal elements or compounds; auxiliary materials include various fasteners, etc. During the reporting period, the company's procurement scale continued to increase with the growth of production and sales. Raw materials account for a high proportion of the company's product costs, and the prices of raw materials are easily affected by various factors such as macroeconomic cycles, supply and demand conditions, etc. If the company is unable to transfer the pressure of rising raw material prices downstream in the future or cannot effectively control costs through technological innovation, or fails to manage inventory properly during price decreases, it will have an adverse effect on the company's operational performance.