今年首家北交所IPO获受理！
梧桐树下V·2026-01-29 15:20

Core Viewpoint - Beijing Huadian Guangda Environment Co., Ltd. has received acceptance for its IPO application on the Beijing Stock Exchange, marking it as the first company to be accepted for IPO in 2026. The sponsor for this IPO is Kaiyuan Securities [1]. Financial Performance - The company reported operating revenues of 268.80 million yuan, 330.32 million yuan, 314.61 million yuan, and 271.94 million yuan for the years 2022, 2023, 2024, and the first nine months of 2025, respectively. The net profit attributable to the parent company for the same periods was 18.73 million yuan, 43.31 million yuan, 25.23 million yuan, and 38.25 million yuan. The revenue for 2024 decreased by 4.76% year-on-year, while the net profit decreased by 41.73% year-on-year [3][5]. Cash Flow - The net cash flow from operating activities was negative for several periods, with figures of -26.49 million yuan, 0.40 million yuan, 1.04 million yuan, and -37.04 million yuan for 2022, 2023, 2024, and the first nine months of 2025, respectively, resulting in a cumulative negative cash flow of -49.12 million yuan [6][7]. Accounts Receivable - The accounts receivable balance at the end of each reporting period was 113.63 million yuan, 172.11 million yuan, 190.56 million yuan, and 194.60 million yuan, representing 42.27%, 52.11%, 60.57%, and 71.56% of the respective operating revenues [8][10]. The growth rate of accounts receivable exceeded that of operating revenue in 2023 and 2024 [9]. Customer Concentration - The top five customers contributed over 50% of the company's revenue during the reporting periods, with contributions of 52.16%, 52.74%, 57.56%, and 50.24% for 2022, 2023, 2024, and the first nine months of 2025, respectively [11]. Employee Benefits - The proportion of employees covered by social insurance and housing provident fund increased from 68.61% in 2022 to 85.10% in 2025 for social insurance, and from 44.84% to 84.85% for housing provident fund over the same period [16][18]. IPO Fundraising - The company plans to raise 260 million yuan through its IPO, with 50 million yuan allocated for working capital and the remainder for three specific projects related to catalyst production and environmental technology [19][21].