Zhong Guo Jing Ji Wang·2025-05-31 07:38Core Viewpoint - Zhejiang Zhigao Machinery Co., Ltd. has been approved for IPO on the Beijing Stock Exchange, marking it as the 20th company to pass the review this year, with a focus on energy-saving and environmentally friendly drilling equipment and air compressors [1][2]. Company Overview - Zhigao Machinery specializes in the research, production, sales, and service of drilling equipment and air compressors, recognized as a high-tech enterprise and one of the "Little Giant" companies in China's fourth batch of specialized and innovative enterprises [1]. - The company aims to provide comprehensive solutions for drilling engineering and air power, with applications in mining, construction, equipment manufacturing, and petrochemical industries [1]. Shareholding Structure - As of the signing date of the prospectus, Zhigao Holding directly owns 29.58 million shares, accounting for 45.90% of the total share capital, making it the controlling shareholder [1]. - Chairman and General Manager Xie Cun holds 18.08% of shares directly and 35.32% indirectly through Zhigao Holding, totaling 55.62% of shares, thus being the actual controller of the company [2]. IPO Details - Zhigao Machinery plans to publicly issue no more than 21.481488 million shares, with an option for an overallotment of up to 15%, equating to a maximum of 3.222223 million shares [2]. - The company aims to raise 395 million yuan, which will be allocated to the construction of a production line for 300 intelligent drilling machines, the establishment of an engineering technology R&D center, and to supplement working capital [2]. Review and Inquiry - The review committee raised inquiries regarding the authenticity of direct sales to customers, the stability of cooperation with China Railway, and the verification of overseas business operations [4][5]. - Questions were also posed about the stability of performance, core technology, product structure, and the existence of significant fluctuations in the shareholding of distributors [5][6].