新明珠集团主动撤回申请，长达33个月IPO征程终结

Core Viewpoint - The Shenzhen Stock Exchange announced the termination of the review for the initial public offering (IPO) of Xinjing Group on December 31, 2025, due to the company's decision to withdraw its listing application with its sponsor [1][3]. Group 1: IPO Process - Xinjing Group's main board listing application was accepted on March 3, 2023, but faced interruptions during the over 33-month review period due to the need for updated financial information [3]. - The company and its sponsor chose to voluntarily withdraw the application, leading to the termination of the review by the Shenzhen Stock Exchange in accordance with relevant regulations [3]. Group 2: Fundraising Plans - Xinjing Group planned to issue up to approximately 414 million shares, aiming to raise a total of about 2.009 billion yuan [5]. - The raised funds were intended for multiple projects, including the technical transformation of new energy-saving and environmentally friendly board materials, upgrades to green building material production lines, the establishment of a research and development center, brand and digitalization initiatives, and to supplement working capital [5]. Group 3: Investment Projects - The total investment for various projects amounts to approximately 200.887 million yuan, with specific allocations for each project as follows: - New energy-saving and environmentally friendly board materials project: 62.796 million yuan (31.26%) - Hubei Xinjing Green Building Materials production line upgrade: 27.655 million yuan (13.77%) - Ceramic process and materials R&D center: 10.889 million yuan (5.42%) - Brand upgrade project: 38.980 million yuan (19.40%) - Digital platform construction: 14.567 million yuan (7.25%) - Supplementing working capital: 46.000 million yuan (22.90%) [4].