The IPO of XLMSE has been terminated, and it is a qualified supplier for Sinopec, PetroChina, and CNOOC.

On November 1st, New Dawn Technology Co., Ltd. (referred to as New Dawn) had its IPO review status on the Shanghai Stock Exchange Main Board changed to "terminated". This was due to New Dawn and its sponsor withdrawing their application for listing. In accordance with Article 63 of the Shanghai Stock Exchange Rules on the Review of Stock Issuance and Listing, the exchange terminated the review for their IPO. According to the prospectus, New Dawn is mainly engaged in the research, development, production, and sale of industrial explosion-proof electrical appliances, dedicated to providing high-level explosion-proof electrical products to customers in different industries with special production environments. Its main products include explosion-proof electrical appliances, explosion-proof lighting fixtures, explosion-proof fittings, explosion-proof products, and intelligent explosion-proof equipment, mainly used in specific places with high protection requirements such as inflammable and explosive environments, dust, strong vibration, strong impact, strong corrosion, high and low temperatures, high humidity, electromagnetic interference, wide range of voltage inputs, etc. It is understood that China's explosion-proof electrical appliances industry has reached a high degree of marketization after many years of development. According to statistics from the China Explosion-proof Electrical Appliances Association, there are more than 400 companies in the industry in China, mainly private enterprises, with uneven scales and a trend of polarization. New Dawn has become a qualified supplier for Sinopec, PetroChina, and CNOOC, and has established long-term, stable, and good cooperation relationships with large enterprise groups such as Wanhua Chemical Group, China National Chemical Engineering, Shenghong Group, Rongsheng Group, and many engineering design institute companies (EPC). After deducting expenses from the funds raised in this offering, the company plans to invest in the following projects based on their urgency: Financially, in 2020, 2021, and 2022, New Dawn achieved operating revenues of approximately 637 million yuan, 719 million yuan, and 835 million yuan respectively; during the same period, the company achieved net profits of 80.48 million yuan, 93.70 million yuan, and 116 million yuan respectively.