Wanfang Technology's IPO on the Shenzhen Stock Exchange's Growth Enterprise Market has been terminated. It is an important supplier in the field of military electronic information equipment.

On November 5th, Yangzhou Wanfang Technology Co., Ltd. (referred to as Wanfang Technology) terminated its IPO on the Shenzhen Stock Exchange ChiNext board. The IPO was terminated because Wanfang Technology and the sponsor withdrew their application for listing. According to Article 62 of the Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision), the Shenzhen Stock Exchange decided to terminate the listing review. The prospectus shows that Wanfang Technology is mainly engaged in the research, development, production, and sales of military independent and controllable informationization equipment, aerospace special support vehicles, wireless communication equipment, and other products. Its main customers are military groups, general units, and military customers, among which independent and controllable informationization equipment is mainly used in various missile weapon systems' launch platforms, command vehicles, and command posts. It is the core equipment for information processing and control of various missile weapon systems, used in information processing for missile launch, network construction, mission planning, command and control, launch control, communication management and control, etc., ultimately mainly applied in the Rocket Force and the Strategic Support Force; aerospace special support vehicles are mainly used for various types of combat aircraft such as fighter jets, bombers, transport planes, and various types of drones, carrying out various tasks such as mounting air-to-air/air-to-ground missiles, electronic pods, aviation bombs, as well as tasks such as disassembling and installing aircraft engines, ultimately mainly applied in the Air Force; wireless communication equipment mainly supports the core and backbone wireless communication transmission networks of military services, providing communication support for command and control, intelligence distribution, situational awareness, mission planning, etc., ultimately mainly applied in the Air Force, Army, Navy, etc. Wanfang Technology is a national high-tech enterprise and a national-level "specialized, refined, new" small giant enterprise. The company is currently an important supplier in the field of military electronic information equipment. It is one of the few companies in China engaged in the development of domestic hardware and basic software simultaneously, gradually forming high level of independent and controllable self-adaptability in domestic hardware and software, leading the industry in software and hardware compatibility and adaptability, being able to better research and develop products that meet customer demands from a systemic and operational application perspective, and building a military independent and controllable software and hardware ecosystem. Wanfang Technology is one of the first units in China to engage in the research and production of independent and controllable informationization equipment. It is the first to use the VPX architecture in the national defense information system, national defense key models and projects, for the research and production of various intelligent control combinations and supporting basic software for control, communication, vehicle control, comprehensive control, and measurement and communication control. It has cumulatively developed and produced over 50 models and series of independent and controllable informationization equipment for various military services, including 16 key models and projects in the aerospace system. The development and production of model equipment (especially national defense key model equipment) usually have significant strategic significance, reflecting the company's industry position and technical strength. The company participated in the military's first independent and controllable informationization equipment bidding project - the "Domestic Independent and Controllable Basic Equipment" bidding organized by the Information Department of the former XX Army, winning the qualification for the research and production of two servers and one terminal with first and second places respectively. In terms of finances, in the fiscal years 2020, 2021, and 2022, Wanfang Technology achieved revenues of approximately RMB 307 million, RMB 667 million, and RMB 639 million respectively; and net profits of approximately RMB 12.6559 million, RMB 158 million, and RMB 108 million respectively.