长城搅拌IPO退卷，原计划募资4.34亿元

Core Viewpoint - Zhejiang Changcheng Mixing Equipment Co., Ltd. has withdrawn its IPO application, leading to the termination of its review for listing on the Shenzhen Stock Exchange's Growth Enterprise Market [1] Group 1: IPO and Financial Plans - Changcheng Mixing submitted its prospectus in September 2022, aiming to raise 434 million RMB for production expansion and R&D center projects [3] - The company planned to invest approximately 380 million RMB in the production expansion project and 70 million RMB in the R&D center, totaling 450 million RMB [4] Group 2: Governance and Financial Concerns - The listing committee raised concerns regarding the company's service providers, R&D expenses, and corporate governance, specifically questioning the significant increase in R&D expenses in 2022 [4] - The company has a concentrated ownership structure, with seven individuals holding 90.47% of the shares, including the chairman and his family members [5] Group 3: Company Overview and Performance - Changcheng Mixing specializes in the R&D, production, sales, and service of mixing equipment, customizing solutions based on client needs [7] - The company's revenue grew from approximately 287 million RMB in 2020 to 551 million RMB in 2022, with net profits increasing from about 66.94 million RMB to 108.46 million RMB during the same period [8] - As of December 31, 2022, the total assets were approximately 1.069 billion RMB, with a debt-to-asset ratio of 70.13% [9]