Zhong Guo Jing Ji Wang·2025-12-12 02:48Group 1 - The Shanghai Stock Exchange's listing review committee approved Anhui Linping Circular Development Co., Ltd. for its initial public offering (IPO), marking the 88th company approved this year [1] - Linping Development specializes in the research, production, and sales of corrugated paper and boxboard products, positioning itself as a high-tech enterprise with independent research and innovation capabilities [1][2] - The company has developed into a resource comprehensive utilization enterprise, integrating waste paper utilization, cogeneration, and green papermaking [1] Group 2 - The controlling shareholder and actual controller of Linping Development is Li Jianshe, who holds 84.86% of the shares directly and controls an additional 3.54% indirectly, totaling 88.40% of the voting rights [2] - Linping Development plans to issue up to 18.8537 million shares in its IPO, with a minimum of 25% of the total share capital being newly issued shares [2] - The company aims to raise 120 million yuan for projects related to the production of green and bio-based materials [2] Group 3 - The listing committee raised questions regarding the stability of the company's operating performance, including sales revenue and net profit fluctuations, customer demand, and the sustainability of tax incentives [3] - Additional inquiries focused on the rationale and process for purchasing waste paper and coal, as well as the reasons for the cancellation of suppliers [4]