电建新能、越亚半导体将受检
Sou Hu Cai Jing·2025-10-12 23:07

Core Insights - The China Securities Association announced the third batch of companies for on-site inspection, including Electric Power Construction New Energy and Yueya Semiconductor, both of which are preparing for IPOs [1][2] Group 1: Electric Power Construction New Energy - The company aims to list on the Shanghai Stock Exchange and plans to raise approximately 9 billion yuan through its IPO [1] - As of March this year, the revenue composition shows that wind power accounts for 70.37%, solar power for 28.38%, and other sources for 1.25% [1] - The solar power segment has seen a significant increase in revenue share from 15.47% in 2022 to 28.38% in Q1 2025, indicating a clear upward trend [1] - Despite revenue growth of over 8% year-on-year to 5.472 billion yuan in the first half of 2025, the net profit attributable to shareholders fell by 16% to 1.127 billion yuan, primarily due to a decline in gross margin caused by seasonal sunlight shortages [1] Group 2: Yueya Semiconductor - The company is preparing for an IPO on the ChiNext board, aiming to raise about 1.224 billion yuan [1] - Revenue figures for Yueya Semiconductor from 2022 to the first half of 2025 are 1.667 billion yuan, 1.705 billion yuan, 1.796 billion yuan, and 811 million yuan, respectively, showing overall revenue growth but significant fluctuations in net profit [2] - The gross margin for the main business has decreased in recent years, with figures of 38.97%, 26.65%, 25.49%, and 24.42% from 2022 to the first half of 2025, attributed to falling product prices, rising costs of precious metals, and increased depreciation from new production lines [2] Group 3: Regulatory Environment - The regulatory body has emphasized the importance of on-site inspections as a key tool for IPO review, highlighting the need for strict accountability of intermediary institutions [2] - The Shenzhen Stock Exchange has revised its listing rules to enhance the role of on-site inspections in preventing financial fraud and ensuring the integrity of the IPO process [2][3]