由创业板IPO转道北交所，海雷股份上市辅导验收环节缘何意外卡壳

Core Viewpoint - The article discusses the challenges faced by Shenzhen Haili Co., Ltd. in its IPO process, particularly regarding issues in corporate governance and internal controls that led to the failure of its listing guidance acceptance by the Shenzhen Securities Regulatory Bureau [2][14]. Group 1: Company Background and IPO Process - Haili Co. was established in May 2012 and specializes in the research, design, production, and sales of energy storage lithium battery packs [5]. - The company initially aimed to list on the Shenzhen Stock Exchange's Growth Enterprise Market but later shifted its focus to the Beijing Stock Exchange due to difficulties in meeting the profitability requirements for the Growth Enterprise Market [7][8]. - Haili Co. submitted its listing guidance completion report on May 26, 2025, but faced unexpected challenges during the acceptance process [3][11]. Group 2: Issues Identified in Listing Guidance - The Shenzhen Securities Regulatory Bureau identified deficiencies in Haili Co.'s corporate governance and internal controls during the listing guidance acceptance process, necessitating further verification and corrective actions by relevant intermediaries [2][14]. - Despite the guidance firm, Huatai United Securities, claiming that Haili Co. met the necessary governance and internal control standards, the company ultimately did not pass the acceptance process [13][14]. Group 3: Financial Performance and Future Plans - Haili Co.'s revenue grew from 556 million to over 700 million in 2023, with a net profit nearing 80 million [9]. - However, in 2024, the company experienced a decline in net profit to 60.39 million, which impacted its ability to meet the IPO requirements for the Growth Enterprise Market [10]. - The company plans to raise up to 500 million through its IPO, with 150 million allocated for working capital and 350 million for the construction of its Shenzhen smart manufacturing base [23].