刚刚！换掉全套人马，重启IPO！

Core Viewpoint - Satewell Electronics Co., Ltd. has initiated the process for an IPO with the guidance of CITIC Securities, aiming to restart its public offering after previously halting it in 2019 [1][3][5]. Company Overview - Satewell Electronics was established on September 15, 2010, with a registered capital of 36,000 yuan [4][8]. - The company is primarily engaged in the manufacturing of electronic devices, focusing on IoT technology and smart home products, and aims to provide comprehensive smart security solutions [6][8]. - Satewell is recognized as a national-level green factory and a "little giant" enterprise in Zhejiang Province, with over 300 patents, including 27 invention patents [6][7]. Shareholding Structure - Satewell Holdings Co., Ltd. holds 83.50% of Satewell Electronics, making it the controlling shareholder [4][7]. Previous IPO Attempts - The company previously submitted an IPO application to the Shanghai Stock Exchange in 2017 but terminated the review process in 2019. The prior sponsor was Guotai Junan Securities [5][8]. Current IPO Guidance - The IPO guidance agreement was signed on August 15, 2025, with CITIC Securities as the lead advisor, and legal and accounting support from Shanghai Jintiancheng Law Firm and Lixin Certified Public Accountants, respectively [3][5][9]. - The guidance period is set from August 2025 to October 2025, focusing on compliance with legal and financial regulations, internal control systems, and corporate governance [10][11]. Market Presence - Satewell has established a global sales network, with subsidiaries in the UK, Netherlands, Canada, Singapore, Hong Kong, and Vietnam, serving over 60% of its sales from international markets [7][8]. - The company has strategic partnerships with major global firms, including Huawei and Siemens, and holds a significant market share in Europe and North America [7].