Mountain Source Technology's Shenzhen Stock Exchange IPO terminated. The company is a pioneer in the construction of 5G+ intelligent mines.

On July 12th, Shanghai Shanyuan Electronic Technology Co., Ltd. (referred to as Shanyuan Technology) had its IPO review status changed to terminated by the Shenzhen Stock Exchange. This decision was made as Shanghai Shanyuan Electronic Technology Co., Ltd. and the sponsor withdrew their application for IPO, in accordance with the Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 revised) Article 62. According to the prospectus, Shanyuan Technology was established in 2001, specializing in the research, production, sales, and service of products and systems related to intelligent mine information and communication, power control and protection, visual surveillance, etc. The company is able to provide comprehensive solutions for clients in fields like mines, including planning, design, system delivery, and operation optimization, empowering the digital transformation of the mining industry and achieving mine intelligence. It has developed a range of products including intelligent mine information and communication systems, intelligent mine power control and protection systems, and intelligent mine visual surveillance systems. With the strong national support for 5G+ intelligent mine construction in recent years, the company seized the industry trends and actively responded to policy calls, collaborating with companies such as China Mobile Limited and Huawei to expand business in 5G+ intelligent mine construction. They provide overall planning, design, and implementation for 5G+ intelligent mine construction, and have developed industry 5G terminal products to meet various application scenarios based on 5G technology characteristics. As of the signing date of the prospectus, the company has been involved in 97 5G+ intelligent mine construction projects in China, serving as a key pioneer and builder in this field. With years of research and project experience in the intelligent mine industry, the company has earned multiple honors and awards, such as winning the first prize in the national final of the Ministry of Industry and Information Technology's 4th "Blossom Cup" 5G Application Solicitation Competition for the "5G+ Smart Energy Project" in December 2021. Additionally, the company's intelligent power cloud network integration and control system won the first prize in the China Safety Production Association's 3rd Safety Technology Progress Awards, and their coal mine Internet of Things platform and individual equipment were selected in the first batch of major technical equipment projects list displayed by the National Energy Administration. The company's products are highly recognized in the market and enjoy wide acceptance from major energy groups downstream. Moreover, leveraging their years of technical expertise in the coal industry, the company has gradually entered non-coal mining and chemical fields, undertaking projects like the 5G+UWB construction at Sanshandao Gold Mine and the 5G network construction at Lanzhou Petrochemical Yulin Chemical Industrial Park, contributing to intelligent construction in diverse areas. Financially, the company achieved revenues of approximately 164 million, 231 million, 410 million, and 234 million RMB in 2020, 2021, 2022, and the first half of 2023 respectively, with net profits of 20.83 million, 32.74 million, 70.34 million, and 26.74 million RMB respectively.