鸿星科技终止沪市主板IPO 原拟募12.14亿国投证券保荐

Core Viewpoint - The Shanghai Stock Exchange has decided to terminate the review of Hongxing Technology (Group) Co., Ltd.'s application for its initial public offering (IPO) and listing on the Shanghai Main Board [1][3]. Company Overview - Hongxing Technology specializes in the research, production, and sales of frequency control components such as quartz crystal resonators and oscillators, ranking among the top ten global manufacturers of quartz crystal devices [3]. IPO Details - The application for the IPO was accepted by the Shanghai Stock Exchange on March 3, 2023, and the company, along with its sponsor Guotou Securities Co., Ltd., submitted a request to withdraw the application [3]. - Hongxing Technology originally planned to issue no more than 49.306188 million shares, accounting for at least 25% of the total share capital post-issuance [4]. - The company aimed to raise 1.2141 billion yuan, which was intended for several projects, including the construction of a quartz crystal component production base and the development of micro quartz crystal resonators [4][5]. Fund Allocation - The total investment for the projects was estimated at 1.40006 billion yuan, with the following allocations: - Construction of the Deqing quartz crystal component production base: 752.36 million yuan, with 566.4 million yuan from the raised funds - Development and industrialization of 300 million micro quartz crystal resonators: 243.9 million yuan, fully funded by the raised capital - Headquarters operation center construction: 203.8 million yuan, fully funded by the raised capital - Supplementing working capital: 200 million yuan, fully funded by the raised capital [5].