Group 1 - Inner Mongolia Shuangxin Environmental Protection Materials Co., Ltd. (Shuangxin Environmental) and Shanghai Yufan Environmental Technology Co., Ltd. (Yufan Technology) are set to issue new shares and list on the Shenzhen Stock Exchange on December 11, 2025 [1] - Shuangxin Environmental plans to publicly issue 287 million shares, with a total share capital of 1.147 billion shares post-issuance. The initial strategic placement accounts for 86.1 million shares, or 30% of the total issuance [2] - Yufan Technology will publicly issue 26.73 million shares, resulting in a total share capital of approximately 106.9 million shares after the issuance. The initial strategic placement is 5.346 million shares, representing 20% of the total issuance [4] Group 2 - Shuangxin Environmental specializes in the research, production, and sales of polyvinyl alcohol (PVA), special fibers, vinyl acetate (VAC), and calcium carbide, with a complete industrial chain layout for PVA. PVA is a water-soluble biodegradable polymer used in various industries, including fine chemicals, green construction, and pharmaceuticals [3] - Yufan Technology focuses on smart diagnosis and health assessment of drainage pipeline systems, damage treatment, and operational maintenance. The company has established a strong brand presence in China's drainage pipeline maintenance market and is recognized as a national-level specialized and innovative "little giant" enterprise [4]

Group 1: Strong One Co., Ltd. - Strong One Co., Ltd. is offering shares for subscription today with a code of 787809 and an issue price of 85.09 yuan per share [2] - The total number of shares being publicly issued is 32.39 million, with a maximum subscription limit of 7,500 yuan in market value required for top-tier subscription [2] - The company focuses on providing services for semiconductor design and manufacturing, specifically in the research, design, production, and sales of probe cards for wafer testing [2] Group 2: Yufan Technology Co., Ltd. - Yufan Technology Co., Ltd. is also offering shares for subscription today with a code of 001396 and an issue price of 22.29 yuan per share [3] - The total number of shares being publicly issued is 26.73 million, with a maximum subscription limit of 8,500 yuan in market value required for top-tier subscription [3] - The company specializes in smart diagnostics and health assessments of drainage pipeline systems, as well as damage remediation and operational maintenance [4] Group 3: Shuangxin Environmental Protection Co., Ltd. - Shuangxin Environmental Protection Co., Ltd. is offering shares for subscription today with a code of 001369 and an issue price of 6.85 yuan per share [5] - The total number of shares being publicly issued is 287 million, with a maximum subscription limit of 600,000 yuan in market value required for top-tier subscription [5] - The company is engaged in the research, production, and sales of polyvinyl alcohol (PVA) and its related products, having a complete industrial chain layout for PVA [6] Group 4: Youxun Co., Ltd. - Youxun Co., Ltd. is listed today on the Shanghai Stock Exchange's Sci-Tech Innovation Board with a code of 688807 and an issue price of 51.66 yuan per share [7] - The company has an issue price earnings ratio of 60.27 times [7] - The company focuses on the research, design, and sales of optical communication front-end transceiver chips [8]

Core Viewpoint - The article highlights the growth and development of Yufan Technology, a high-tech enterprise specializing in the intelligent diagnosis and health assessment of drainage pipeline systems, as well as damage treatment and operational maintenance. The company aims to leverage its professional strength to lead industry development and has recently gone public on the Shenzhen Stock Exchange, marking a new chapter in its growth [3][8]. Group 1: Company Background and Development - Yufan Technology was founded in 2012 by Zhu Jun, who recognized the significant value in the underground pipeline industry after his experience in the surveying bureau. The company focuses on the maintenance and health assessment of urban drainage networks, which are crucial for public health and safety [4][5]. - The company has established a comprehensive pipeline diagnosis system, expanding its services from initial detection to full-process repair and maintenance, with projects implemented in over 30 provinces and more than 3,000 projects completed [5][6]. Group 2: Technological Advancements - Yufan Technology's core advantage lies in its trenchless repair technology, which minimizes disruption to urban life and reduces carbon emissions during the repair process. This technology allows for repairs without extensive excavation [6][7]. - The company has developed a "technical basket" to provide tailored solutions for various pipeline issues and has authored multiple industry standards, holding 125 patents as of June 30, 2025, including 33 invention patents [7]. Group 3: Future Outlook and Market Strategy - The company plans to raise 544 million yuan through its IPO, which will be used to enhance urban pipeline maintenance capabilities, establish a research and development center, and supplement working capital. Yufan Technology aims to accelerate its national expansion and explore market potential in economically underdeveloped regions [8]. - Future developments in the underground pipeline maintenance industry are expected to shift from reactive repairs to proactive warning systems, utilizing sensors and AI to monitor pipeline conditions and alert personnel to potential issues [8][9].

证券代码：001396 证券简称：誉帆科技 公告编号：2025-001 上海誉帆环境科技股份有限公司 上市首日风险提示公告 经深圳证券交易所《关于上海誉帆科技股份有限公司人民币普通股股票上市的通知》 （深证上〔2025〕1483 号）同意，上海誉帆环境科技股份有限公司（以下简称"公司" 或"本公司"）首次公开发行的人民币普通股股票在深圳证券交易所上市，证券简称为 "誉帆科技"，证券代码为"001396"。本次公开发行的 26,730,000 股人民币普通股股 票全部为新股发行，不涉及股东公开发售股份的情形。本公司首次公开发行股票中的 22,207,144 股人民币普通股股票自 2025 年 12 月 30 日起可在深圳证券交易所上市交易。 其余股票的可上市交易时间按照有关法律法规规章、深圳证券交易所业务规则及公司相 关股东的承诺执行。 本公司郑重提请投资者注意：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，切实提高风险意识，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。 现将有关事项提示如下： 一、公司近期经营情况正常，内外部经营环境未发生重大变化，目前不存在未披露 重大事项。 二、经 ...

Group 1 - The core viewpoint of the article is that Yufan Technology, known as the "first stock for underground pipeline operation and maintenance in smart cities," will officially list on the Shenzhen Stock Exchange on December 30, 2025, with an issue price of 22.29 yuan per share and a corresponding price-to-earnings ratio of 19.77 times [1] - Yufan Technology plans to issue 26.73 million new shares, raising a net amount of 515 million yuan, with the issuance method combining strategic placement, offline issuance, and online issuance [1] - The final strategic placement quantity is 4.01256 million shares, accounting for 15.01% of the total issuance, while the offline issuance quantity is 5.07694 million shares with an effective subscription amount of 4,637,380 million shares [1] Group 2 - Yufan Technology is a high-tech enterprise providing underground pipeline repair services for government departments and pipeline ownership units, utilizing advanced technologies such as CCTV, robotics, and non-excavation repair techniques [2] - The company has accumulated 125 patents, including 33 invention patents, and its R&D expenses have consistently accounted for 4.15%-4.70% of its operating income over the years [2] - From 2022 to 2024, Yufan Technology's operating revenue is projected to grow from 513 million yuan to 730 million yuan, with net profit attributable to shareholders increasing from 80.5182 million yuan to 127 million yuan, achieving double-digit year-on-year growth in both revenue and net profit in 2023 and 2024 [2] Group 3 - According to brokerage research reports, Yufan Technology is a rare entity in the underground pipeline operation and maintenance industry, expected to benefit from policy dividends and a trillion-yuan market growth opportunity due to its technological innovation and national business layout [3]

Summary of Key Points Core Viewpoint - The A-share market will see four new stocks listed during the last three trading days of 2025, with no new stock subscriptions available for investors during this period. The recent trend shows a strong "profit effect" from new stocks, with significant gains reported on their first trading days. Group 1: Upcoming New Stock Listings - Four new stocks will be listed on the A-share market: Yufan Technology (001396), Qiangyi Semiconductor (688809), Shuangxin Environmental Protection (001369), and Hengdong Optical Communication Technology (920045) [1][3] - Yufan Technology will be listed on December 30, 2025, while Hengdong Optical Communication will be listed on December 31, 2025 [3] Group 2: Recent New Stock Performance - Last week, five new stocks were listed, with four of them achieving significant first-day gains. Notably, Nabai Chuan's stock saw a first-day profit of 46,200 yuan per subscription [1][10] - Jiangsu Xihua New Energy Technology's stock had a first-day closing price of 36.81 yuan, up 264.46% from its issue price of 10.1 yuan, resulting in a profit of 13,352 yuan per subscription [11] - Nabai Chuan's stock closed at 115 yuan, a 408.18% increase from its issue price of 22.63 yuan, yielding a profit of 46,200 yuan per subscription [12] Group 3: Company Profiles of New Listings - Yufan Technology focuses on underground pipeline detection and has over 60 relevant qualifications and certifications [4][5] - Qiangyi Semiconductor specializes in semiconductor design and manufacturing, particularly in the development and production of MEMS probe cards, breaking the foreign monopoly in this field [6] - Shuangxin Environmental Protection is engaged in the production and sales of polyvinyl alcohol (PVA) and related chemical materials, with a complete PVA industry chain [7] - Hengdong Optical Communication develops and manufactures passive optical devices, with a focus on AI data center networks and long-term partnerships with major clients [9]

上海誉帆环境科技股份有限公司 上市公告书 股票简称：誉帆科技 股票代码：001396 上海誉帆环境科技股份有限公司 Shanghai Refine Environment Sci-tech Ltd. （上海市长宁区通协路 558 号 3 幢 4 层） 首次公开发行股票并在主板上市 之 上市公告书 保荐人（主承销商） （广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座） 联席主承销商 广州市天河区珠江东路 11 号 18、19 楼全层 二〇二五年十二月 上海誉帆环境科技股份有限公司 上市公告书 特别提示 上海誉帆环境科技股份有限公司（以下简称"誉帆科技"、"公司"、"本公司"或"发 行人"）股票将于 2025 年 12 月 30 日在深圳证券交易所上市。 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。 如无特别说明，本上市公告书中的简称或名词释义与本公司首次公开发行股票招股 说明书中的相同。如本上市公告书中合计数与各加数直接相加之和在尾数上存在差异， 系由于四舍五入所致。 1 上海誉帆环境科技股份有限公司 上市公告书 第一节 ...

上海誉帆环境科技股份有限公司 首次公开发行股票并在主板上市之 上市公告书提示性公告 保荐人（主承销商）：中信证券股份有限公司 联席主承销商：万联证券股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 经深圳证券交易所审核同意，上海誉帆环境科技股份有限公司（以下简称"誉 帆科技"、"发行人"或"本公司"）发行的人民币普通股股票将于 2025 年 12 月 30 日在深圳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并在 主板上市的招股说明书全文披露于中国证监会指定信息披露网站（巨潮资讯网， 网址 www.cninfo.com.cn；中证网，网址 www.cs.com.cn；中国证券网，网址 www.cnstock.com；证券时报网，网址 www.stcn.com；证券日报网，网址 www.zqrb.cn；中国金融新闻网，网址 www.financialnews.com.cn；经济参考网， 网址 www.jjckb.cn；中国日报网，网址 www.chinadaily.com.cn）；供投资者查阅。 所属网页二维码：巨潮资讯网 一、上市概况 二、 ...

上海誉帆环境科技股份有限公司 首次公开发行股票并在主板上市 之 上市保荐书 保荐人（主承销商） 中信证券股份有限公司 关于 广东省深圳市福田区中心三路8号卓越时代广场（二期）北座 二〇二五年十二月 声 明 中信证券股份有限公司（以下简称"中信证券"、"本保荐人"、"保荐人" 或"保荐机构"）接受上海誉帆环境科技股份有限公司（以下简称"誉帆科技"、 "发行人"或"公司"）的委托，担任誉帆科技首次公开发行 A 股股票并在主 板上市（以下简称"本次证券发行"或"本次发行"）的保荐机构，为本次发行 出具上市保荐书。 保荐机构及其保荐代表人根据《中华人民共和国公司法》（以下简称"《公司 法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《首次公开发行股票 注册管理办法》（以下简称"《首发管理办法》"）、《证券发行上市保荐业务管理办 法》等有关法律、法规和中国证券监督管理委员会（以下简称"中国证监会"） 以及深圳证券交易所的有关规定，诚实守信，勤勉尽责，严格按照依法制订的业 务规则、行业执业规范和道德准则出具上市保荐书，并保证所出具文件的真实性、 准确性、完整性和及时性。保荐人承诺因其为发行人首次公开发行股票 ...

法律意见书 二〇二五年十二月 北京市君合律师事务所 关于 上海誉帆环境科技股份有限公司 首次公开发行股票并在深圳证券交易所主 板上市 之 北京市建国门北大街 8 号华润大厦 20 层 邮编：100005 电话：（86-10）8519 1300 传真：（86-10）8519 1350 junhebj@junhe.com 北京市君合律师事务所 关于上海誉帆环境科技股份有限公司 首次公开发行股票并在深圳证券交易所主板上市之 法律意见书 上海誉帆环境科技股份有限公司： 北京市君合律师事务所（以下简称"本所"）接受上海誉帆环境科技股份有 限公司（以下简称"发行人"或"公司"）委托，担任发行人申请首次公开发行 股票（以下简称"本次发行"）并在深圳证券交易所（以下简称"深交所"）主 板上市（以下简称"本次上市"，合称为"本次发行及上市"）的专项法律顾问， 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《首次公开发行 股票注册管理办法》（以下简称"《管理办法》"）、《深圳证券交易所股票上 市规则》（以下简称"《上市规则》"）、《律师事务所从事证券法律业务管理 办法》、《律师事务所证券法律业务执业规则（试行）》和《公 ...