Zhong Guo Jing Ji Wang·2025-08-23 08:13Core Viewpoint - The Shanghai Stock Exchange has decided to terminate the review of Fujian Del Technology Co., Ltd.'s application for an initial public offering (IPO) on the Shanghai main board, following the company's request to withdraw its application [1][2]. Company Overview - Fujian Del primarily engages in the research, production, and sales of fluorine-based new materials, including fluorochemical basic materials, new energy lithium battery materials, special gases, and semiconductor wet electronic chemicals [2]. - The company does not have a controlling shareholder, with the largest shareholder, Lai Zongming, holding 15.60% of the shares. No single shareholder can influence the board's decisions significantly [2]. Shareholding Structure - The actual controllers of Fujian Del are Lai Zongming, Hua Xiangbin, and Huang Tianliang, who collectively control 35.06% of the voting rights. They signed a "consensus action agreement" to ensure unified decision-making in shareholder meetings [3][4]. - To prevent deadlocks due to disagreements among the actual controllers, a supplementary agreement was signed on August 1, 2023, stipulating that no party can abstain from voting in case of disputes [4]. IPO Details - Fujian Del originally planned to issue between 115,420,403 and 183,314,756 shares, representing 10% to 15% of the post-issue total share capital. The offering was intended to be a public issuance of new shares without involving existing shareholders [4]. - The company aimed to raise 194.5 million yuan for projects including a production line for electronic-grade chlorine trifluoride, fluorine semiconductor materials, and a semiconductor-grade electronic materials project [4][5].