兢强科技过会：今年IPO过关第81家 国元证券过首单

Core Viewpoint - The Beijing Stock Exchange's listing committee approved the initial public offering (IPO) of Tongling Jingqiang Electronic Technology Co., Ltd. (referred to as "Jingqiang Technology"), marking it as the 81st company approved for listing this year, with 34 approvals from the Beijing Stock Exchange [1] Company Overview - Jingqiang Technology specializes in the research, production, and sales of electromagnetic wires, being one of the main suppliers of aluminum-based electromagnetic wire products in China, primarily focusing on enameled aluminum wire [1] - The company plans to issue up to 20 million shares, with an option to issue an additional 3 million shares through an over-allotment option, bringing the total potential issuance to 23 million shares [2] Fundraising and Projects - Jingqiang Technology aims to raise 33 million yuan (approximately 4.6 million USD) to fund a project for an annual production capacity of 25,000 tons of specialty electromagnetic wire and to supplement working capital [3] Key Questions Raised During Review - The committee inquired about the sustainability of the company's operating performance, requesting an explanation of its competitive advantages in relation to enameled aluminum and copper wires, including product performance, application scenarios, raw material supply, and technological barriers [4] - The committee also questioned the feasibility of the fundraising projects, asking for an assessment of whether the new production capacity aligns with downstream demand and the feasibility of absorbing this new capacity [4]