Core Viewpoint - Shanghai Yufan Environmental Technology Co., Ltd. (Yufan Technology) has successfully listed on the Shenzhen Stock Exchange, with a significant opening price and trading performance, indicating strong market interest and potential for growth in the urban underground pipeline maintenance sector [1] Group 1: Company Overview - Yufan Technology is a high-tech enterprise providing smart city underground pipeline repair services, utilizing advanced technologies such as CCTV, robotics, and non-excavation repair techniques [1] - The company aims to establish a complete industrial chain in the drainage pipeline maintenance field and is recognized as a national-level specialized and innovative "little giant" enterprise [1] Group 2: Financial Performance - For the years 2022 to 2024, Yufan Technology's revenue and net profit figures are as follows: - Revenue: 513.01 million yuan, 630.27 million yuan, 730.18 million yuan - Net Profit: 78.83 million yuan, 98.25 million yuan, 130.21 million yuan - The net profit attributable to the parent company is 80.52 million yuan, 100.38 million yuan, and 127.23 million yuan respectively [5] - The company reported a significant increase in revenue for the first nine months of 2025, achieving 501.53 million yuan, a year-on-year growth of 4.73%, and a net profit of 76.68 million yuan, up 7.62% [7] Group 3: IPO and Fundraising - Yufan Technology issued 26.73 million shares at a price of 22.29 yuan per share, raising a total of approximately 59.58 million yuan, with a net amount of 51.54 million yuan after deducting issuance costs [3] - The funds raised will be allocated to enhance urban pipeline operation and maintenance capabilities, R&D center construction, and to supplement working capital [3][4] Group 4: Future Projections - For the fiscal year 2025, Yufan Technology anticipates a revenue of 804.37 million yuan, representing a 10.16% increase, and a net profit of 140.40 million yuan, reflecting a 7.83% growth [8]

Core Viewpoint - Shanghai Yufan Environmental Technology Co., Ltd. has officially listed on the Shenzhen Stock Exchange, positioning itself as the first stock in urban underground pipeline operation and maintenance, filling a gap in the A-share market for this niche sector [1] Industry Overview - The urban underground pipeline operation and maintenance industry is crucial for city operations and public welfare, with significant demand driven by policies such as the "14th Five-Year Plan" for urban sewage treatment and resource utilization [2] - As of the end of 2023, the total length of urban drainage pipelines in China exceeded 950,000 kilometers, highlighting urgent needs for professional operation and maintenance services due to aging infrastructure [2] Company Profile - Since its establishment in 2012, the company has focused on smart diagnosis, health assessment, and maintenance of drainage pipeline systems, aiming to protect urban infrastructure [2] - The company holds 125 patents, including 33 invention patents, and maintains a stable R&D expense ratio of 4.15%-4.70% of revenue, fostering a positive cycle of research, application, and iteration [3] Technical Strength - The company has established itself as a standard setter in the industry, having authored and contributed to 27 industry standards and participated in national major science and technology projects [3] - Its proprietary technologies address traditional industry pain points, offering significant advantages in environmental protection, structural safety, and traffic maintenance [3] Service Network - The company has set up regional support centers in major cities, enhancing its ability to provide efficient, comprehensive services [4] - It has successfully completed notable projects, such as drainage pipeline tracing in Xiamen and sewage interception in Chongqing, earning multiple prestigious awards [4] Market Position - The company holds a 4.8% market share in the drainage pipeline detection and non-excavation repair industry, maintaining its position as the industry leader [4] - From 2022 to 2024, the company's revenue grew from 513 million to 730 million yuan, with net profit increasing from approximately 80.5 million to 127 million yuan, achieving double-digit year-on-year growth in both revenue and profit for 2023 and 2024 [4] Fundraising and Future Plans - The funds raised will be directed towards enhancing service capabilities in urban pipeline operation, developing a research center for smart diagnostic algorithms, and improving financial structure for operational stability [5] - The chairman emphasized that the listing marks a milestone in the company's history, committing to deepening its focus on underground pipeline services to contribute to the development of livable, safe, and resilient cities [5]

今日上市新股表现 | 代码 | 简称 | 最新价（元） | 上午收盘涨跌幅（%） | 半日换手率（%） | | --- | --- | --- | --- | --- | | 001369 | N双欣 | 20.80 | 203.65 | 51.82 | | 688809 | N强一 | 234.98 | 176.15 | 50.32 | | 001396 | N誉帆 | 56.23 | 152.27 | 50.49 | 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 新股速递、智能盯盘 （原标题：N誉帆上午收盘涨152.27%） N誉帆(001396)今日上市，开盘上涨169.18%，截至上午收盘涨幅回落至152.27%，半日成交量1121.16万 股，成交额6.54亿元，换手率50.49%。 证券时报•数据宝统计显示，今日共有3只新股上市，截至上午收盘，N双欣涨203.65%，换手率 51.82%；N强一涨176.15%，换手率50.32%；N誉帆涨152.27%，换手率50.49%。 公司主要从事排水管网系统的智慧诊断与健康评估、病害治理以及运营维护业务，业务体系完整、具有 独立经营能力。 ...

12月30日，上海誉帆环境科技股份有限公司（股票简称：誉帆科技，股票代码：001396）新股发行上市 仪式成功举行。上海市长宁区人民政府副区长赵永尊，中信证券公司总监、全球投资银行管理委员会委 员张秀杰，誉帆科技董事长朱军出席今日的上市仪式并发表致辞。 上海市长宁区人民政府副区长赵永尊在致辞中谈到，誉帆是长宁这块逐梦圆梦之地培育出的高新技术企 业优秀典范，也是长宁服务对接上海国际科技创新中心建设，坚持智能化、绿色化、融合化导向，聚焦 高端制造、数字经济、低空经济等新质生产力领域，因地制宜推进科技创新发展结出的硕果。 誉帆科技董事长朱军在致辞中表示，作为国家级专精特新"小巨人"企业，誉帆始终以技术创新为核心驱 动力，公司囊括了当今世界CIPP、螺旋缠绕和碎裂管替换等系列非开挖技术，成功攻克超长距离和超 大管径等各种复杂场景的管道修复难题；主编参编多项行业标准，用技术规范引领行业发展方向。誉帆 的项目荣膺上海市科技进步一等奖和华夏科技二等奖等多项重磅荣誉，赢得政府或机构的信赖，成为城 市管网治理领域的可靠伙伴。 誉帆科技董事长朱军致辞 上海市长宁区人民政府副区长赵永尊致辞 作为排水管道检测与非开挖修复领域的行业领 ...

Core Viewpoint - Yufan Technology (001396) has officially listed on the Shenzhen Stock Exchange, becoming the first company in the underground pipeline management and operation industry in the A-share market [2] Group 1: Company Overview - Yufan Technology specializes in smart diagnosis and health assessment of drainage pipeline systems, damage remediation, and operation maintenance [2] - The company is recognized as a national-level specialized and innovative "little giant" enterprise, actively expanding in key regions such as the Yangtze River Economic Belt, Southeast Coast, and Greater Bay Area [2] - Yufan Technology has undertaken significant projects across 32 provinces, municipalities, and autonomous regions, including notable projects in Xiamen, Chongqing, Guilin, Lijiang, Guangzhou, Hefei, and Shanghai [2] Group 2: Industry Context - The demand for underground pipeline operation and maintenance has increased due to the growing scale of urban underground pipeline systems in China [2] - Traditional excavation methods for pipeline repair are being limited due to their impact on road traffic and urban aesthetics, leading to the emergence of non-excavation repair technologies [2] Group 3: Technological Capabilities - Yufan Technology has developed multiple underground pipeline detection technologies and non-excavation repair methods, including in-situ solidification, spiral winding, and thermoplastic forming [3] - The company holds 125 patents, with 33 being invention patents, positioning it among the industry leaders [3] - Yufan Technology is projected to achieve a 4.8% market share in the drainage pipeline detection and non-excavation repair industry by 2024, ranking first in the market [3] Group 4: IPO and Future Plans - The company has publicly issued 26.73 million shares, raising funds for enhancing urban pipeline operation and maintenance capabilities, research center construction, and supplementing working capital [3] - The urban pipeline operation and maintenance service enhancement project aims to mechanize and systematize pipeline maintenance through advanced non-excavation repair equipment and skilled professionals [4] - Yufan Technology has contributed to 27 industry standards and participated in national major science and technology projects, indicating its strong industry influence [4] Group 5: Strategic Focus - The company will continue to focus on drainage pipeline detection and non-excavation repair to address urban flooding, ground subsidence, and water pollution issues [4] - Yufan Technology aims to expand into new business areas such as urban health assessments and municipal infrastructure maintenance, striving to become a "hidden guardian" of urban underground pipeline safety [5]

Group 1 - N Yufan was listed today with an opening price of 60.00 yuan, representing an increase of 169.18% from its issue price [2] - The company specializes in smart diagnosis and health assessment of drainage pipeline systems, damage remediation, and operational maintenance, indicating a complete business system with independent operational capabilities [2] - The total number of shares issued by the company is 26.73 million, with an online issuance of 17.64 million shares at an issue price of 22.29 yuan per share, resulting in an issue price-to-earnings ratio of 19.77, which is lower than the industry average of 35.36 [2] Group 2 - The company raised 596 million yuan through its initial public offering, with the funds primarily allocated to enhancing urban pipeline operation and maintenance capabilities, working capital, and research center construction projects [2] - The online issuance had a total of 16.49 million effective subscription accounts, with a final winning rate of 0.0164% [2] - Recent performance of newly listed stocks shows significant first-day price increases, with N Yufan's 169.18% rise being notable among peers in various industries [2]

Group 1 - Three new stocks were listed on December 30, with significant initial gains: N Shuangxin Environmental Protection rose nearly 240%, N Qiangyi shares increased over 200%, and N Yufan Technology climbed more than 170% [1] Group 2 - N Shuangxin Environmental Protection (001369) had a trading price of 23.12, with a market capitalization of 26.5 billion and a price-to-earnings ratio of 50.1. The stock experienced a change of 237.52% and a trading volume of 5.36 million shares [2] - N Qiangyi (688809) was trading at 259.00, with a market capitalization of 33.6 billion and a price-to-earnings ratio of 95.4. The stock saw an increase of 204.38% and a trading volume of 6.25 million shares [3] - N Yufan Technology (001396) had a trading price of 60.59, with a market capitalization of 6.5 billion and a price-to-earnings ratio of 48.8. The stock rose by 171.83% with a trading volume of 1.98 million shares [4]

Company Overview - Shanghai Yufan Environmental Technology Co., Ltd. (stock code: 001396) officially listed on the Shenzhen Stock Exchange on December 30, 2025, positioning itself as the first stock in urban underground pipeline operation and maintenance, filling a gap in the A-share market [1] - The company will publicly issue 26.73 million new shares at a price of 22.29 yuan per share, corresponding to a price-to-earnings ratio of 19.77 times for 2024's net profit, which is lower than the industry average of 35.36 times [1] - The new share subscription received a positive response with an effective subscription multiple exceeding 6000 times, resulting in a low online issuance winning rate of only 0.0164% [1] Industry Context - The urban underground pipeline operation and maintenance industry is crucial for city operations and public welfare, currently experiencing significant growth driven by policies such as the "14th Five-Year Plan" for urban sewage treatment and resource utilization [2] - As of the end of 2023, the total length of urban drainage pipelines in China exceeded 950,000 kilometers, highlighting the urgent need for professional operation and maintenance services due to aging infrastructure [2] Technological and Operational Strengths - The company has established itself as a leader in the smart city underground pipeline operation and maintenance sector, focusing on smart diagnostics, health assessments, and maintenance services since its founding in 2012 [2] - Yufan Technology has developed a comprehensive service system covering detection, non-excavation repair, and maintenance, with proprietary technologies that address traditional industry challenges [3] - The company has completed significant projects and has a market share of 4.8% in the drainage pipeline detection and non-excavation repair industry, maintaining its position as the industry leader [3] Financial Performance - From 2022 to 2024, the company's revenue grew from 513 million yuan to 730 million yuan, with net profit increasing from 80.52 million yuan to 127 million yuan, achieving double-digit year-on-year growth in both revenue and net profit for 2023 and 2024 [4] - The funds raised from the IPO will be allocated to enhance service capabilities, improve technology, and optimize financial structure, ensuring stable operations and strategic expansion [4] Future Outlook - The chairman of Yufan Technology emphasized that the listing marks a milestone in the company's history, with a commitment to improving the precision of pipeline diagnostics, efficiency of repairs, and intelligence of maintenance services [4][5]

北京商报讯（记者 马换换 王蔓蕾）12月30日，强一股份（688809）、双欣环保（001369）、誉帆科技 （001396）等3只新股上市，开盘分别大涨212.14%、186.13%、169.18%，其中强一股份发行价较高， 公司开盘跻身百元股行列，开于265.6元/股。 据了解，强一股份、双欣环保、誉帆科技分别登陆科创板、主板、主板上市。 ...

每经AI快讯，12月30日，今日3只新股上市，N强一股份涨逾210%，表现最佳；N双欣环保（001369） 涨逾180%，N誉帆科技（001396）涨近170%。 ...