The China Securities Regulatory Commission has approved Yufan Technology's application for an IPO on the Shenzhen Stock Exchange.

On October 10, the China Securities Regulatory Commission issued the "Reply on Approving the Initial Public Offering of Shanghai Yufan Environmental Technology Co., Ltd." It is reported that Yufan Technology plans to list on the Shenzhen Stock Exchange, with CITIC SEC as its sponsor institution, aiming to raise 543.89 million yuan. According to the prospectus, Yufan Technology is a high-tech enterprise providing smart city underground pipeline repair services for government departments and pipeline ownership units. It is a national-level specialized and new "little giant" enterprise, using CCTV, Siasun Robot & Automation equipment, professional software, and advanced non-excavation repair technologies to serve the drainage pipeline maintenance field, and is committed to building a complete industry chain in this field.