实控人身背对赌协议，优邦科技时隔两年重启IPO，两张罚单敲响安全警钟

Core Viewpoint - Dongguan Youbang Materials Technology Co., Ltd. (Youbang Technology) has had its IPO application accepted by the Shenzhen Stock Exchange, marking its second attempt to go public on the ChiNext board after previously withdrawing its application in December 2023 [1][3]. Company Overview - Youbang Technology, established in 2003, specializes in the research, production, and sales of electronic assembly materials and related automation equipment, with four main business segments: electronic adhesives, electronic welding materials, wet chemicals, and automation equipment [3]. - The company reported revenues of approximately 854 million yuan, 899 million yuan, 1.025 billion yuan, and 508 million yuan for the years 2022 to 2024 and the first half of 2025, respectively. The net profit attributable to the parent company was 77.39 million yuan, 89.94 million yuan, 93.62 million yuan, and 39.55 million yuan for the same periods [3][4]. Financial Performance - The company's financial metrics show a steady increase in revenue and net profit over the reporting periods, with a projected revenue of 1.025 billion yuan for 2024 and a net profit of 93.62 million yuan [4]. - The asset-liability ratio for the company was reported at 21.90% for the first half of 2025, up from 18.95% in 2024 and 7.41% in 2023, indicating a significant increase in leverage [4]. - Basic earnings per share were reported at 0.49 yuan for the first half of 2025, compared to 1.18 yuan in 2024 and 1.13 yuan in 2023 [4]. Customer Concentration Risk - The company has a high customer concentration risk, with the top five customers accounting for 42.73%, 53.86%, 49.12%, and 42.51% of its main business revenue during the reporting periods. Notably, the largest customer, Foxconn Group, contributed over 20% of the main business revenue [4][5]. Shareholding Structure - The actual controller of Youbang Technology, Zheng Jianzhong, holds a total voting power of 37.09% through direct and indirect holdings and agreements with related parties. His brother, Zheng Jiannan, is also a party to these agreements [5]. Regulatory and Compliance Issues - The company has faced two administrative penalties related to safety production involving its subsidiary, Suzhou Younuo Electronic Materials Technology Co., Ltd. The penalties were for violations concerning the storage of hazardous chemicals and failure to eliminate safety risks [6].