East Test and Control Technology Innovation Board IPO has been accepted and plans to raise 1.1 billion yuan.

On December 25th, Dandong Orient Control Technology Co., Ltd. (referred to as Orient Control) has submitted an application for its IPO on the Science and Technology Innovation Board of the Shanghai Stock Exchange. Guotai Junan Securities is the sponsor institution, and the company plans to raise 1.1 billion yuan. According to the prospectus, Orient Control is a technology company that provides intelligent online detection and analysis equipment, intelligent control systems, intelligent equipment, and related intelligent services for global non-ferrous metal mines, black metal mines, coal mines, cement, metallurgy, wind power, petrochemicals, and their upstream and downstream enterprises. The company has overcome key technological barriers in areas such as multi-element online detection and analysis technology, intelligent decision-making technology for mine production control based on the fusion of multiple intelligent bodies, and B/S architecture three-dimensional geological transparent visualization sharing technology. In terms of products, the company's main products include intelligent online detection and analysis equipment, intelligent control systems, intelligent equipment, and intelligent manufacturing professional technical services for customers. During the reporting period, the composition of main business income was as follows: The company has established stable business relationships with many central state-owned enterprises and large private enterprises. Major customers include State Power Investment Corporation, CNBM Group, China Communications Construction Company, China Weapon Industry Group, China Baowu Steel Group, China Minmetals Corporation, Aluminum Corporation of China, Jiangxi Copper Corporation, Zijin Mining Group, China National Gold Group, China Nonferrous Metal Group, Western Mining Group, China MCC International, Huaibei Mining Holdings, Kailuan Group, Shanxi Coking Coal Energy Group, BBMG Corporation, and Xinjiang Qingsong Building Materials and Chemicals (Group) Co., Ltd. The company has a relatively high customer concentration. During the reporting period, the total sales revenue from the top five customers accounted for 57.06%, 44.55%, 36.85%, and 34.33% of the operating income for the period. In addition, the company actively implements the Belt and Road Initiative, deepens the development of overseas markets, and its products have been successfully applied in more than 30 countries including Italy, Israel, Czech Republic, Morocco, India, Indonesia, Namibia, Democratic Republic of Congo, Chile, and Peru. After deducting the issuance expenses, the raised funds from this offering will be invested in the following projects: Financially, the company's operating income is expected to be 603 million yuan, 521 million yuan, 567 million yuan, and 211 million yuan in the years 2022, 2023, 2024, and January to June 2025, respectively. The net profits for these periods are estimated to be approximately 92.57 million yuan, 74.77 million yuan, 73.08 million yuan, and 4.30 million yuan, respectively.