Zhong Guo Jing Ji Wang·2025-07-12 07:32Core Viewpoint - Beikang Detection Technology Co., Ltd. has been approved for listing on the Beijing Stock Exchange, marking it as the 33rd company to pass the review this year, with a focus on the development and service of non-ferrous metal inspection and testing technology [1] Group 1: Company Overview - Beikang Detection is a leading domestic institution specializing in the research and development of inspection and testing technology for non-ferrous metal mineral resources, covering various fields including ore and mineral products, smelting products, environmental samples, and advanced materials [1] - The company plans to publicly issue no more than 28.32 million shares, with a potential additional issuance of up to 4.25 million shares through an over-allotment option, bringing the total to a maximum of 32.57 million shares [2] Group 2: Shareholding Structure - The controlling shareholder of Beikang Detection is the Minmetals Group, which directly holds 86.11% of the shares and indirectly holds an additional 1.53% through the Minmetals Research Institute, totaling 87.64% [2] - The State-owned Assets Supervision and Administration Commission holds 100% of Minmetals Group, making it the actual controller of Beikang Detection [2] Group 3: Fundraising and Use of Proceeds - Beikang Detection aims to raise approximately 178.80 million yuan, which will be allocated to the development of advanced testing instrument research bases and testing capacity construction, as well as to supplement working capital [2] Group 4: Review and Inquiry - The review committee raised inquiries regarding the sustainability of performance growth, specifically questioning the reasonableness of the company's gross margin compared to industry peers and the stability of its revenue from instrument business and lithium carbonate testing [3] - Concerns were also raised about the fairness of pricing in related party transactions, particularly regarding the pricing model for services provided to related parties without requiring testing reports [3]