CSRC approves Xintong Electronics' IPO registration on the Shenzhen Stock Exchange main board.

On April 30th, the China Securities Regulatory Commission issued the approval for the initial public offering of shares by Shandong Xintong Electronic Co., Ltd. It is reported that Xintong Electronic plans to list on the main board of the Shenzhen Stock Exchange, with China Merchants Securities Co., Ltd. as the sponsor, aiming to raise 474.96 million yuan. According to the prospectus, Xintong Electronic is an industrial Internet of Things intelligent terminal and system solution provider with a core service goal of operation and maintenance in specific industries such as electricity and communications. Based on different types of customers, the company integrates new generation information technology to develop and produce industrial Internet of Things intelligent terminals and system solutions, collecting, processing, and analyzing the data information required for key business processes such as industry operation and maintenance, and providing intelligent operation and maintenance analysis services to customers. During the reporting period, the company's main customers were electricity grid companies such as State Grid and Southern Power Grid, as well as communication operators such as China United Network Communications, China Mobile Limited, and China Telecom Corporation, as well as the JD platform providing e-commerce platform services for them.