Listing Overview - Jiangyin Huaxin Precision Technology Co., Ltd. (referred to as "Huaxin Precision" or "the Company") will list its ordinary shares on the Shanghai Stock Exchange on September 5, 2025 [1] - The total share capital after the issuance will be 174.95 million shares, with 43.74 million shares being newly issued [4][5] - The initial public offering (IPO) price is set at 18.60 CNY per share, corresponding to a price-to-earnings (P/E) ratio of 15.94 times based on pre-IPO earnings and 21.25 times based on post-IPO earnings [4][5] Market Comparison - The P/E ratio of 21.68 times based on post-IPO earnings is lower than the industry average of 21.80 times as of August 20, 2025 [6] - The average P/E ratio for comparable companies in the electrical machinery and equipment manufacturing industry is significantly higher at 68.57 times [6] Trading Risks - The first five trading days will have no price fluctuation limits, which may lead to significant price volatility [2] - The limited number of circulating shares (3.43 million shares, or 19.60% of total shares) poses a liquidity risk [3] - The stock will be eligible for margin trading from the first day of listing, which may introduce additional price volatility and market risks [7]

Group 1 - The core point of the article is that Huaxin Jingke (603370.SH) has been listed today without any new share subscriptions [1] Group 2 - The listing of Huaxin Jingke marks a significant event in the market, indicating the company's entry into the public trading space [1]

Group 1 - The number of valid subscription accounts for the online issuance was 13,178,223, with a total of 109,526,590,000 shares subscribed, resulting in an initial online subscription rate of 0.01277863% [1] - The total number of allocation numbers was 219,053,180, with a range from 100,000,000,000 to 100,219,053,179 [1] Group 2 - Due to an initial effective subscription multiple of approximately 7,825.56 times, which exceeded 100 times, the issuer and the lead underwriter decided to implement a reallocation mechanism [2] - After the reallocation mechanism was activated, the final number of shares issued offline was 6,998,000 shares, accounting for 20.00% of the total issuance after deducting the final strategic placement [2] - The final number of shares issued online was 27,992,000 shares, representing 80.00% of the total issuance after deducting the final strategic placement, with a final online subscription rate of 0.02555726% [2]

Listing Overview - Jiangyin Huaxin Precision Technology Co., Ltd. (referred to as "Huaxin Precision" or "the Company") will list its ordinary shares on the Shanghai Stock Exchange on September 5, 2025 [1] - The total share capital after the issuance will be 174.95 million shares, with 43.74 million shares being newly issued [4] - The initial public offering (IPO) price is set at 18.60 CNY per share [4] Financial Metrics - The price-to-earnings (P/E) ratio based on the IPO price is calculated as follows: - 15.94 times based on pre-issuance total share capital [4] - 21.25 times based on post-issuance total share capital [4] - 16.26 times based on pre-issuance net profit excluding non-recurring gains and losses [5] - 21.68 times based on post-issuance net profit excluding non-recurring gains and losses [5] - The average static P/E ratio for the electrical machinery and equipment manufacturing industry is 21.80 times as of August 20, 2025 [5][6] Market Risks - The stock will have no price fluctuation limits during the first five trading days, which may lead to significant price volatility [2] - The limited number of circulating shares (3.43 million shares, or 19.60% of total shares) may result in liquidity risks [3] - The stock will be eligible for margin trading from the first day of listing, which could increase price volatility and market risks [7]

Core Viewpoint - The company, Huaxin Precision, is set to go public on September 5, marking its transition from a regional player to an industry benchmark, driven by a strong focus on technology and innovation in the precision stamping sector [2][3]. Group 1: Company Development and Strategy - Huaxin Precision started as a small factory in Jiangyin, focusing on electrical equipment cores and micro-motor cores, which laid a solid foundation for future growth [2]. - The year 2016 was pivotal for the company as it began developing samples for Siemens' electric vehicle drive motors, leading to its entry into the core components market for new energy vehicles [3]. - The company has emphasized independent research and development since 2014, which has shaped its core philosophy of "technology-driven enterprise" [3]. Group 2: Technological Advancements - Huaxin Precision has developed ultra-thin silicon steel materials, reducing thickness from 0.5mm to 0.2mm, aligning with the industry's demand for smaller and more efficient motors [4]. - The company has become one of the few capable of mass-producing 0.2mm ultra-thin silicon steel, thanks to its advanced production techniques and experience [4]. - Ongoing R&D efforts aim to push the boundaries further, with plans to develop 0.15mm and 0.1mm ultra-thin silicon steel processing technologies [5]. Group 3: Production Capacity and Market Position - The upcoming IPO will fund the expansion of production capacity for high-end drive motor cores, with an expected annual output of 1 million sets [6]. - The company has already released significant production capacity in the past year and is prepared to meet current project demands with the new funding [6]. - By the end of 2024, the projected demand from major clients for Huaxin Precision's products is estimated at 10.182 billion yuan, indicating strong future growth potential [6]. Group 4: International Expansion and Future Outlook - The company has established a presence in Mexico, with plans for mass production this year, and expects overseas sales to account for approximately 27% of total revenue by 2024 [7]. - Huaxin Precision's strategic focus includes refining its core precision stamping business while integrating upstream and downstream operations within the industry [7].

江阴华新精密科技股份有限公司 首次公开发行股票主板上市公告书 提示性公告 保荐人（主承销商）：华泰联合证券有限责任公司 扫描二维码查阅公告全文 本公司及全体董事、监事、高级管理人员保证信息披露的内容真实、准确、 完整、及时，没有虚假记载、误导性陈述或重大遗漏。 经上海证券交易所审核同意，江阴华新精密科技股份有限公司（以下简称"华 新精科"、"发行人"或"公司"）人民币普通股股票将于 2025 年 9 月 5 日在 上海证券交易所主板上市，上市公告书全文和首次公开发行股票的招股说明书全 文披露于上海证券交易所网站（http://www.sse.com.cn/）和符合中国证监会规定 条件网站（中证网：http://www.cs.com.cn；中国证券网：http://www.cnstock.com； 证券时报网：http://www.stcn.com；证券日报网：http://www.zqrb.cn；经济参考网： http://www.jjckb.cn；金融时报网：https://www.financialnews.com.cn；中国日报网： https://cn.chinadaily.com.cn）披露，供投资 ...

股票简称：华新精科 股票代码：603370 江阴华新精密科技股份有限公司 （Jiangyin Huaxin Precision Technology Corporation） （江阴市顾山镇新龚村云顾路 137 号） 首次公开发行股票主板上市公告书 保荐人（主承销商） （深圳市前海深港合作区南山街道桂湾五路128号前海深港基金小镇B7栋401） 二〇二五年九月四日 江阴华新精密科技股份有限公司 上市公告书 特别提示 江阴华新精密科技股份有限公司（以下简称"华新精科"、"本公司"、"发 行人"或"公司"）股票将于 2025 年 9 月 5 日在上海证券交易所主板上市。 本公司提醒投资者应充分了解股票市场风险及本公司披露的风险因素，在新 股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 本上市公告书中若出现总数与各分项数值之和尾数不等的情况，均为四舍五 入尾差所致。 1 江阴华新精密科技股份有限公司 上市公告书 第一节 重要声明与提示 一、重要声明与提示 本公司及全体董事、高级管理人员保证上市公告书所披露信息的真实、准确、 完整，承诺上市公告书不存在虚假记载、误导性陈述或者重大遗漏，并依法承担 法律责任。 ...

| 第一章 | 总则 | 1 | | --- | --- | --- | | 第二章 | 经营宗旨和范围 | 2 | | 第三章 | 股份 | 2 | | 第一节 | 股份发行 | 2 | | 第二节 | 股份增减和回购 | 4 | | 第三节 | 股份转让 | 5 | | 第四章 | 股东和股东会 | 6 | | 第一节 | 股东的一般规定 | 6 | | 第二节 | 控股股东和实际控制人 | 9 | | 第三节 | 股东会 | 10 | | 第四节 | 股东会的召集 | 14 | | 第五节 | 股东会的提案与通知 | 16 | | 第六节 | 股东会的召开 | 17 | | 第七节 | 股东会的表决和决议 | 20 | | 第五章 | 董事会 | 26 | | 第一节 | 董事 | 27 | | 第二节 | 董事会 | 31 | | 第三节 | 独立董事 | 36 | | 第四节 | 董事会专门委员会 | 40 | | 第六章 | 高级管理人员 | 43 | | 第七章 | 财务会计制度、利润分配和审计 | 44 | | 第一节 | 财务会计制度 | 45 | | 第二节 | 内部审计 | 49 | | ...