英发IPO上市前夕，子公司成被执行人

Core Viewpoint - Yinfar Ruineng is facing scrutiny as its subsidiary, Yibin Yinfar Deyao, has been listed as an executed party by the Yibin Shuzhou District People's Court, with an execution amount of 1.348175 million yuan, which may raise concerns about internal control and associated risks during the company's critical phase of applying for a Hong Kong IPO [1][2]. Group 1 - Yibin Yinfar Deyao Technology Co., Ltd. has been designated as an executed party with a court case number (2025) Chuan 1504 Zhi 4478, and the case was filed on September 15, 2025 [2]. - Yinfar Ruineng holds a 73.3333% stake in Yibin Yinfar Deyao, indicating absolute control over the subsidiary [1][3]. - The execution amount of 1.348175 million yuan is not particularly large, but it could still impact market perceptions regarding Yinfar Ruineng's internal management [1]. Group 2 - The execution case is linked to Yibin Yinfar Deyao, which may have implications for Yinfar Ruineng's IPO process [1]. - The company has a registered capital of 123.75 million yuan, with the last capital contribution made on January 31, 2023 [3]. - Yinfar Ruineng's ownership structure includes a significant stake held by Yibin Yinfar Ruineng Equity Investment Partnership, which owns 26.6667% [3].