油烟净化设备生产商科蓝环保闯关北交所：哥哥对赌失败，弟弟掏钱“买单” 曾引监管追问是否“合理”

Core Viewpoint - The company, Kelong Environmental Technology Co., Ltd., is shifting its focus to the Beijing Stock Exchange after failing to list on the ChiNext in 2021, amidst concerns over its capital operations and declining financial performance [1][3]. Group 1: Company Background and Capital Operations - Kelong Environmental, established in 2002, specializes in the purification of cooking and industrial oil fume, with main products including electrostatic cooking oil fume purification equipment and industrial VOCs purification equipment [2]. - In 2021, the company initiated its IPO process and introduced external investors, signing a buyback agreement that was triggered due to the failure to complete the IPO within the stipulated time [3]. - Following the buyback, the actual controller, You Jin, and his brother, You Yi, now jointly control 100% of the company's shares, raising regulatory scrutiny regarding the buyback's structure and the roles of the involved parties [4]. Group 2: Financial Performance and Expansion Plans - From 2022 to 2024, the company's revenue is projected to grow from 174 million to 251 million, with net profit increasing from 26.01 million to 53.87 million, indicating over a 100% growth in net profit [5]. - However, in the first half of 2025, the company reported a revenue decline of 2.60% to 113 million and a net profit decrease of 2.49% to 25.06 million, signaling a slowdown in performance [5]. - Despite the declining sales of its main product, the company plans to raise 200 million for expansion, aiming to double its production capacity for key purification equipment [6].