Venture(US:VEMLY) Sou Hu Cai Jing·2025-06-03 13:21Core Viewpoint - Changcheng Mixing announced the termination of its initial public offering (IPO) application for listing on the Shenzhen Stock Exchange's Growth Enterprise Market [1] Company Overview - Changcheng Mixing, established in 1993, specializes in the research, production, sales, and service of mixing equipment, with its main products being mixing devices [4] - Comparable companies in the industry include Hengfengtai, Oumai Machinery, Guomao Co., Tongli Technology, Yitong Sealing, and Zhongmi Holdings [4] Financial Performance - The company's projected revenues for 2022, 2023, and 2024 are 551.27 million yuan, 652.06 million yuan, and 683.09 million yuan, respectively [4] - Net profits attributable to shareholders for the same years are projected to be 108.46 million yuan, 165.61 million yuan, and 140.09 million yuan [4] - The net profit and net profit after deducting non-recurring gains and losses for 2024 are expected to decline by 15.41% and 9.57%, respectively [4] IPO Details - The company planned to issue no more than 45 million shares of ordinary stock (A-shares) and aimed to raise approximately 434 million yuan for the expansion of mixing equipment production and the construction of a research and development center [5][6] - The total investment for the mixing equipment production expansion project is 380.19 million yuan, with 374.25 million yuan from the raised funds, while the R&D center construction project has a total investment of 70.29 million yuan, with 59.79 million yuan from the raised funds [6] Governance and Control - The actual controllers of the company, including Yu Peiqing and Jin Youxiang, collectively hold 89.42% of the shares [6] - The company has faced inquiries regarding its governance structure, particularly concerning the relationships among its major shareholders and management [9]