Core Viewpoint - Tongling Technology is seeking to resolve its control issues and has recently passed the listing committee review for the Beijing Stock Exchange after multiple failed attempts to go public in the past years [1][3]. Group 1: Company Background and Control Issues - Tongling Technology was listed on the New Third Board in November 2015 and has made several attempts to go public, including submissions to the Shanghai Stock Exchange and Shenzhen Stock Exchange, all of which were unsuccessful until now [1]. - The actual control of Tongling Technology has been a point of contention, with the current controllers being Xiang Chunchao and his family, who collectively hold 30.73% of the shares [3]. - The company has faced scrutiny regarding the clarity of its actual control and the relationship between its founding shareholders, particularly concerning the transfer of shares from Jiang Desheng to Xiang Chunchao and his family [4][5]. Group 2: Financial Performance - Tongling Technology's main business involves the research, production, and sales of automotive interior components, with significant clients including major automotive manufacturers [8]. - The company reported revenues of 892 million yuan, 1.013 billion yuan, 1.066 billion yuan, and 486 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively, with net profits of 64.56 million yuan, 111.66 million yuan, 130.85 million yuan, and 87.21 million yuan during the same periods [8][9]. - The compound annual growth rate of the net profit excluding non-recurring gains for the last three years (2022-2024) was 43.38% [8]. Group 3: Revenue Composition and Trends - The company has seen a decline in domestic revenue while experiencing rapid growth in overseas revenue, which accounted for 19.81%, 16.74%, 37.56%, and 42.52% of total revenue in 2022, 2023, 2024, and the first half of 2025, respectively [10]. - The gross profit margin for Tongling Technology's main business has shown an upward trend, increasing from 20.81% in 2022 to 28.95% in the first half of 2025, which is above the average level of comparable companies [10]. - The company has significant accounts receivable, with values of 402 million yuan, 481 million yuan, 456 million yuan, and 390 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively, representing a substantial portion of current assets [11].
通领科技北交所IPO过会 原第一大股东离场
Zhong Guo Zheng Quan Bao·2026-01-13 04:48