晴天科技IPO终止：历时超3年，“85后”董事长丁一波本科肄业

Core Viewpoint - QingTian Technology's IPO on the Shenzhen Stock Exchange has been terminated after a lengthy review process, highlighting challenges in the renewable energy sector and the company's operational dynamics [1][2]. Company Overview - QingTian Technology specializes in providing comprehensive solutions for distributed photovoltaic power plants, with main business segments including system integration, investment operation, and maintenance services [1]. - The company has faced a series of regulatory hurdles since applying for an IPO in June 2022, culminating in the withdrawal of its application in June 2025 [1]. Financial Performance - From 2020 to the first half of 2023, the labor costs for the system integration business were reported as follows: 11.5184 million yuan in 2020, 11.0367 million yuan in 2021, 12.0523 million yuan in 2022, and 14.0450 million yuan in the first half of 2023, indicating a gradual increase in costs [1]. - Despite the rising labor costs, the proportion of labor costs relative to the main business costs has been decreasing year by year [1]. Shareholding Structure - Ding Yibo remains the actual controller of QingTian Technology, holding 25.6619% of the shares and controlling 58.6041% of the voting rights [2]. - Other shareholders include various investment firms, with Guangdong Minying Investment Co., Ltd. being a notable stakeholder through its private equity fund [2]. Management Background - Ding Yibo has a diverse professional background, having held positions in various companies, including China Life and Vooyage International Co., Ltd., before leading QingTian Technology [2].