Core Viewpoint - The announcement from SuDa Co., Ltd. indicates significant planned share reductions by major shareholders, which may impact the company's stock performance and investor sentiment [1] Shareholder Reduction Plans - Yangzhong Xugong, holding 7.50% of shares, plans to reduce its stake by up to 760,000 shares (1%) through centralized bidding from October 13, 2025, to January 12, 2026, and by up to 1.52 million shares (2%) through block trading [1] - The company's General Manager, Liu Runping, who holds 516,700 shares (0.68%), intends to reduce his holdings by up to 129,200 shares (0.17%) [1] - Vice General Manager Li Jing, holding 150,000 shares (0.20%), plans to reduce his stake by up to 37,500 shares (0.05%) [1] - Former Vice General Manager Liu Xinyang, also holding 516,700 shares (0.68%), aims to reduce his holdings by up to 129,200 shares (0.17%) [1] - Former Vice General Manager Dong Xiaobo, holding 150,000 shares (0.20%), plans to reduce his stake by up to 37,500 shares (0.05%) [1]

Group 1 - The shareholder Yangzhong Xugong Industrial Investment Partnership plans to reduce its holdings in Suda Co., Ltd. by up to 760,000 shares (1% of total share capital) through centralized bidding and up to 1,520,000 shares (2% of total share capital) through block trading within 90 natural days starting from October 13, 2025 [1] - The company's board member and general manager, Liu Runping, intends to reduce his holdings by up to 130,000 shares (0.17% of total share capital) during the same period [1] - The vice president, Li Jing, plans to reduce his holdings by up to 37,500 shares (0.05% of total share capital) within the specified timeframe [1] Group 2 - Former vice president Liu Xinyang plans to reduce his holdings by up to 129,200 shares (0.17% of total share capital) within the same 90-day period [2] - Former vice president Dong Xiaobo intends to reduce his holdings by up to 37,500 shares (0.05% of total share capital) during the same timeframe [2] - For the first half of 2025, Suda Co., Ltd.'s revenue composition is as follows: 42.21% from repair and remanufacturing, 23.83% from spare parts supply management, 15.27% from fluid connection components, 11.77% from second-hand equipment rental and sales, and 6.33% from full lifecycle specialized contracting [2]

Core Insights - On September 11, Suda Co., Ltd. experienced a slight increase in stock price by 0.05%, with a trading volume of 34.24 million yuan [1] - The company reported a net financing outflow of 1.57 million yuan for the same day, with total financing and margin trading balance reaching 66.64 million yuan [1][2] Financing Overview - On September 11, Suda Co., Ltd. had a financing purchase amount of 3.15 million yuan, with a current financing balance of 66.64 million yuan, accounting for 3.46% of the circulating market value [2] - There were no shares sold or repaid in the margin trading segment on the same day, resulting in a margin balance of 0 yuan [2] Company Profile - Suda Co., Ltd. is located in Zhengzhou, Henan Province, and was established on July 7, 2009, with its listing date on September 3, 2024 [2] - The company's main business focuses on hydraulic supports for coal mining equipment, providing services such as maintenance, remanufacturing, spare parts supply management, and second-hand equipment rental and sales [2] - The revenue composition includes: maintenance and remanufacturing (42.21%), spare parts supply management (23.83%), fluid connection products (15.27%), second-hand equipment rental and sales (11.77%), specialized contracting services (6.33%), and others (0.59%) [2] Financial Performance - For the first half of 2025, Suda Co., Ltd. reported an operating income of 503 million yuan, a year-on-year decrease of 11.74%, and a net profit attributable to shareholders of 40.35 million yuan, down 48.87% year-on-year [3] - The number of shareholders increased by 4.88% to 9,387, with an average of 4,834 circulating shares per person, an increase of 127.74% [3] Dividend Information - Since its A-share listing, Suda Co., Ltd. has distributed a total of 42.10 million yuan in dividends [4]

Group 1 - The company SuDa Co., Ltd. reported that as of September 10, 2025, the total number of shareholders, including those with credit accounts, is 9,387 [2]

Group 1 - The core viewpoint of the news is that SuDa Co., Ltd. has shown a slight increase in stock price and has engaged in financing activities, indicating investor interest despite a decline in revenue and profit [1][3]. - On September 10, SuDa Co., Ltd. had a financing buy amount of 373.97 million yuan, with a net financing buy of 36.57 million yuan, and a total financing and margin balance of 68.21 million yuan, which accounts for 3.55% of its market capitalization [1][2]. - The company specializes in hydraulic supports for coal mining, providing services such as maintenance, remanufacturing, spare parts supply management, and rental/sale of second-hand equipment [2]. Group 2 - As of August 29, the number of shareholders for SuDa Co., Ltd. increased to 8,950, up by 66.08%, while the average circulating shares per person decreased by 39.79% [3]. - For the first half of 2025, SuDa Co., Ltd. reported a revenue of 503 million yuan, a year-on-year decrease of 11.74%, and a net profit attributable to shareholders of 40.35 million yuan, down 48.87% year-on-year [3]. - Since its A-share listing, SuDa Co., Ltd. has distributed a total of 42.10 million yuan in dividends [4].

Core Insights - On September 8, 2023, Sudar Co., Ltd. experienced a stock price increase of 0.46% with a trading volume of 47.67 million yuan [1] - The company reported a financing buy-in amount of 7.60 million yuan and a net financing buy-in of 3.82 million yuan on the same day [1] - As of September 8, the total financing and securities lending balance for Sudar Co., Ltd. was 68.40 million yuan, accounting for 3.55% of its market capitalization [1] Financing and Securities Lending - On September 8, the financing buy-in for Sudar Co., Ltd. was 7.60 million yuan, with a current financing balance of 68.40 million yuan [1] - The company had no securities lending transactions on that day, with both securities lent and sold being 0.00 shares [1] Company Overview - Sudar Co., Ltd. was established on July 7, 2009, and is located in the Zhengzhou Airport Economic Comprehensive Experimental Zone, Henan Province [1] - The company primarily focuses on hydraulic supports for coal mining equipment and provides comprehensive aftermarket services, including maintenance, remanufacturing, and parts supply [1] - The revenue composition of the company includes: maintenance and remanufacturing (42.21%), parts supply management (23.83%), fluid connection products (15.27%), second-hand equipment rental and sales (11.77%), specialized contracting services (6.33%), and others (0.59%) [1] Shareholder Information - As of August 29, 2023, the number of shareholders for Sudar Co., Ltd. was 8,950, an increase of 66.08% from the previous period [2] - The average circulating shares per shareholder decreased by 39.79% to 2,122 shares [2] Financial Performance - For the first half of 2025, Sudar Co., Ltd. reported an operating income of 503 million yuan, a year-on-year decrease of 11.74% [2] - The net profit attributable to the parent company was 40.35 million yuan, reflecting a year-on-year decrease of 48.87% [2] Dividend Information - Since its A-share listing, Sudar Co., Ltd. has distributed a total of 42.10 million yuan in dividends [3]

Company Overview - Full Name: Zhengzhou Suda Industrial Machinery Service Co., Ltd [1] - Abbreviation: Suda Co., Ltd [1] - Stock Code: 001277.SZ [1] - IPO Application Date: June 22, 2022 [1] - Listing Date: September 3, 2024 [1] - Listing Board: Shenzhen Main Board [1] - Industry: Metal Products, Machinery and Equipment Repair [1] - IPO Sponsor: Guosen Securities [1] - Lead Underwriters: Ge Tiwu, Liu Lingyun [1] - IPO Legal Advisor: Beijing Zhonglun Law Firm [1] - IPO Audit Firm: Tianjian Accounting Firm (Special General Partnership) [1] IPO Details - The company is described as a leading provider of aftermarket services in domestic service, repair, and remanufacturing technology [1] - The average listing cycle for A-share companies in 2024 is 629.45 days, while Suda Co., Ltd's listing cycle is 804 days, exceeding the average [1] - The underwriting and sponsorship fees amount to 56.5 million yuan, with a commission rate of 9.29%, higher than the average of 7.71% [1] Market Performance - On the first day of listing, the stock price increased by 36.16% compared to the issue price [1] - Over the first three months post-listing, the stock price rose by 15.59% compared to the issue price [1] Financial Metrics - The company's issue price-to-earnings ratio is 15.05 times, which is 71.09% of the industry average of 21.17 times [1] - Expected fundraising is 608 million yuan, with actual fundraising also at 608 million yuan [1] Short-term Performance - In 2024, the company's operating revenue decreased by 6.89% year-on-year, while net profit attributable to shareholders fell by 13.55%, and non-recurring net profit decreased by 15.82% year-on-year [1] - The abandonment rate for the IPO was 1.02% [1] Overall Assessment - The total score for Suda Co., Ltd's IPO project is 79.5 points, classified as Grade C [1] - Negative factors affecting the score include the need for improved information disclosure quality, a listing cycle exceeding two years, multiple applications, a high issuance cost rate, and a decline in revenue and profit in the first accounting year post-listing [1]

Company Overview - Full Name: Zhengzhou Suda Industrial Machinery Service Co., Ltd [1] - Abbreviation: Suda Co., Ltd [1] - Stock Code: 001277.SZ [1] - IPO Application Date: June 22, 2022 [1] - Listing Date: September 3, 2024 [1] - Listing Board: Shenzhen Main Board [1] - Industry: Metal Products, Machinery and Equipment Repair [1] - IPO Sponsor: Guosen Securities [1] - IPO Underwriters: Guosen Securities [1] - IPO Legal Advisor: Beijing Zhonglun Law Firm [1] - IPO Audit Firm: Tianjian Accounting Firm (Special General Partnership) [1] Performance Evaluation - Disclosure Issues: Required to clarify the statement of being a leading provider in the domestic aftermarket service and repair sector; needed to describe "information management advantages" in simpler terms; required to explain the reason for the change of signing accountant [1] - Regulatory Penalties: No deductions [1] - Public Supervision: No deductions [1] - Listing Cycle: Deductions applied; Suda Co., Ltd's listing cycle is 804 days, exceeding the average of 629.45 days for 2024 A-share listings [1] - Multiple Applications: Yes [1] - Issuance Costs: Underwriting and sponsorship fees amount to 56.5 million yuan, with a commission rate of 9.29%, higher than the average of 7.71% [1] Market Performance - First Day Performance: Stock price increased by 36.16% on the first day of listing [2] - Three-Month Performance: Stock price increased by 15.59% compared to the issue price within three months [2] Financial Metrics - Issuance Price-Earnings Ratio: Suda Co., Ltd's issuance P/E ratio is 15.05 times, which is 71.09% of the industry average of 21.17 times [3] - Actual Fundraising Ratio: Expected and actual fundraising amount is 608 million yuan [4] Short-Term Performance - Revenue: In 2024, the company's revenue decreased by 6.89% year-on-year [5] - Net Profit: The net profit attributable to the parent company decreased by 13.55% year-on-year [5] - Non-recurring Net Profit: The non-recurring net profit attributable to the parent company decreased by 15.82% year-on-year [5] - Abandonment Rate: The abandonment rate is 1.02% [5] Overall Score - Total Score: Suda Co., Ltd's IPO project total score is 79.5, classified as Grade C [5] - Negative Factors: Disclosure quality needs improvement, listing cycle exceeds two years, multiple applications, high issuance cost rate, revenue and profit decline in the first accounting year, abandonment rate of 1.02% [5]

Core Viewpoint - Zhengzhou Suda Industrial Machinery Service Co., Ltd. is set to release 27,936,988 shares for trading, which accounts for 36.76% of the company's total share capital, on September 3, 2025, following the lifting of restrictions on shares issued prior to its initial public offering (IPO) [3][4][33]. Group 1: Share Release Details - The number of shares to be released is 27,936,988, representing 36.76% of the total share capital of the company [3][33]. - The shares will become tradable on September 3, 2025 [4][33]. - The company has not experienced any changes in share capital due to events such as share issuance, buybacks, or stock dividends since its listing [5][42]. Group 2: Shareholder Commitments - A total of 22 shareholders are involved in the application for lifting the share restrictions, all of whom have made commitments regarding the transfer and management of their shares [6][34]. - Major shareholders, including Zhengzhou Coal Mining Machinery Group Co., Ltd. and Shanghai Qiyun Investment Management, have committed not to transfer or manage their shares for 12 months following the IPO [6][12][44]. - Shareholders who are also company executives have additional commitments regarding the transfer of their shares, limiting annual transfers to no more than 25% of their holdings during their tenure and for six months after leaving their positions [9][45][48]. Group 3: Price Stabilization Commitments - The company's board and executives have committed to a price stabilization plan, which includes measures to be taken if the stock price falls below certain thresholds [18][50]. - Specific conditions for initiating stabilization measures include a stock price falling below 120% of net asset value for five consecutive trading days, or below net asset value for 20 consecutive trading days [19][50]. - The stabilization measures can be terminated if the stock price exceeds net asset value for five consecutive trading days [20][50].

Core Viewpoint - Next week, 29 stocks in the A-share market will face a lock-up expiration, with a total of 2.013 billion shares being unlocked, amounting to a market value of 18.877 billion yuan, which represents a week-on-week decrease of 73.51% [1][3]. Summary by Category Unlocking Stocks - The stocks with the highest unlocking market value include Foton Motor at approximately 4 billion yuan, Fute Technology at 2.887 billion yuan, and Yinos at 2.437 billion yuan [2][3]. - Foton Motor will unlock 1.429 billion shares on September 3, 2025, all from a targeted placement to institutional investors [3][5]. - Fute Technology will unlock 0.079 billion shares on September 4, 2025, consisting of original shareholders' restricted shares and strategic placement shares [3][5]. - Yinos will unlock 0.062 billion shares on September 3, 2025, also from original shareholders' restricted shares and strategic placement shares [3][5]. Market Performance - As of August 29, the stock price of Foton Motor was 2.77 yuan per share, with a market capitalization of approximately 21.9 billion yuan [6]. - The stock price of Fute Technology was 36.63 yuan per share, with a market capitalization of about 5.7 billion yuan [6]. - The stock performance for the month of August shows Foton Motor with a gain of 2.97%, Fute Technology with a gain of 7.04%, and Yinos with a decline of 13.12% [3]. Increase in Circulation - Among the 29 stocks facing unlocking, six stocks will see their circulation increase by more than 30%, including Fute Technology (50.71%), Yinos (44.33%), Wufangzhai (37.61%), Suda Shares (36.76%), Liren Technology (34.81%), and Aopumai (31.83%) [10][11]. - Four of these stocks will experience a circulation increase of over 100% after the unlocking [10].