作为深耕骨科医疗器械领域的标杆企业，爱得科技主营业务涵盖脊柱类、创伤类、运动医学类骨科耗材 及创面修复产品，核心产品已广泛应用于各级医疗机构。此次过会审核中，北交所上市委重点关注了集 采政策对业绩的影响、经销收入真实性等核心问题，公司通过详实数据与合规说明获得监管认可，保荐 机构德邦证券同步出具明确核查意见，验证了公司经营的规范性与信息披露的完整性。 公司拟向不特定合格投资者公开发行股票不少于100万股且不超过2953.0762万股（含本数，不含超额配 售选择权），募集资金1.97亿元将重点投向骨科耗材扩产、研发中心建设及营销网络升级三大项目。在 老龄化加剧带动骨科医疗需求增长的行业背景下，募投项目的落地将进一步扩大公司产能规模，强化技 术研发优势，完善全国性营销布局，为业绩持续增长注入动力。 11月21日，北京证券交易所上市委员会2025年第33次审议会议顺利召开，苏州爱得科技发展股份有限公 司（简称"爱得科技"）首发获审议通过，成为年内第79家北交所过会企业，标志着公司登陆资本市场迈 出关键一步。 （文章来源：证券时报网） ...

通领科技控股股东为项春潮。截至招股说明书签署日，项春潮直接持有公司14.15%股份；公司23 位股东与项春潮为一致行动人，项春潮与其一致行动人共持有公司75.88%的股份，故项春潮在股东 （大）会层面合计可控制公司75.88%股份对应的表决权。公司实际控制人为项春潮、项建武、 XIANGJIANWEN（项建文）。项建武、XIANGJIANWEN（项建文）为项春潮之子，XIANGJIANWEN （项建文）为项建武之兄。 （责任编辑：何潇） 中国经济网北京11月14日讯 据北交所网站消息，北京证券交易所上市委员会定于2025年11月21日 上午9时召开2025年第33次审议会议，审议的发行人是上海通领汽车科技股份有限公司（简称"通领科 技"）。 通领科技拟在北交所募集资金41,143.91万元，用于武汉通领沃德汽车内饰件生产项目、上海通领智 能化升级项目、研发中心升级项目、补充流动资金。 | | | | 单位:万元 | | --- | --- | --- | --- | | 序号 | 项目名称 | 投资规模 | 募集资金投资金额 | | 1 | 武汉通领沃德汽车内饰件生产项目 | 23,725.50 | 12, ...

Summary of Key Points Core Viewpoint The Beijing Stock Exchange (BSE) has seen a decrease in trading volume and value over the past week, with a total of 282 listed companies as of November 9, 2025. The market is also witnessing new listings and ongoing IPO activities, indicating a dynamic but challenging environment for investors. Trading Activity - As of November 9, 2025, the BSE has 282 listed companies with a total share capital of 39.225 billion shares and a circulating share capital of 25.056 billion shares [2] - For the week of November 3 to November 9, the trading volume was 4.925 billion shares, a decrease of 17.24% week-on-week, while the trading value was 1136.16 billion yuan, down 21.40% from the previous week [3] - The average trading price during this period was 23.07 yuan, reflecting a decrease of 5.03% [3] - The BSE 50 Index fell by 3.79% to 1522.73 points, with 9 stocks rising and 41 stocks declining [3] New Listings and IPOs - Two companies successfully listed on the BSE during the week of November 3 to November 9, 2025 [7] - The newly listed companies include: - **Danna (Tianjin) Biotechnology Co., Ltd.**: Listed on November 3, 2025, with a first-day trading surge of 497.08% and a closing price of 102.10 yuan [8][10] - **Zhongcheng Consulting Group Co., Ltd.**: Listed on November 7, 2025, with a first-day increase of 170.08% and a closing price of 35.60 yuan [13][30] - Both companies aim to raise approximately 1.37 billion yuan for various projects, including R&D and infrastructure [10][30] Financial Performance of Newly Listed Companies - **Danna Biotechnology**: - Revenue for 2022-2024: 295 million yuan, 237 million yuan, 240 million yuan; Net profit: 44.62 million yuan, 77.60 million yuan, 87.19 million yuan [10] - 2025 H1 revenue decreased by 1.38% to 116 million yuan, while net profit increased by 29.55% to 49.96 million yuan [11] - **Zhongcheng Consulting**: - Revenue for 2022-2024: 303 million yuan, 368 million yuan, 396 million yuan; Net profit: 64.36 million yuan, 81.06 million yuan, 105 million yuan [13] - 2025 H1 revenue decreased by 4.08% to 191 million yuan, and net profit decreased by 2.66% to 53.29 million yuan [14] Ongoing IPO Activities - As of November 9, 2025, there are 104 companies awaiting approval for listing on the BSE, with various stages of the IPO process [6] - Two companies submitted registration during the week, while three companies passed the listing committee meetings [25][26] - Notable companies that passed the listing committee include: - **Qilong Ocean**: Engaged in oil drilling equipment manufacturing, aiming to raise 382 million yuan [27] - **Haiseng Medical**: Focused on medical device manufacturing, seeking to raise 370 million yuan [30] - **Guoliang New Materials**: Specializing in refractory materials, aiming to raise 175 million yuan [33] Market Dynamics - The BSE is experiencing fluctuations in trading activity and new listings, reflecting both opportunities and challenges in the current market environment [3][6][25]

Core Viewpoint - The Beijing Stock Exchange (BSE) serves as a primary platform for innovative small and medium-sized enterprises (SMEs), featuring a listing process that adheres to the basic requirements of the registration system while integrating a progressive cultivation mechanism from the New Third Board's basic and innovative layers. Group 1: Listing Process - The listing process on the BSE consists of five main stages: preparation, restructuring and standardization, application and review, registration and issuance, and listing and ongoing supervision, typically taking 6-12 months in total [3][4][5][6][8][10][11][12]. - The preparation stage involves selecting intermediary institutions, conducting due diligence, and determining the appropriate listing segment based on the company's industry attributes and financial metrics [4][5]. - The restructuring and standardization stage requires the transformation of a limited liability company into a joint-stock company and rectifying any operational irregularities to comply with governance standards [5][6]. - The application and review stage includes submitting application materials, undergoing multiple rounds of inquiries, and obtaining approval from the listing committee [8][9]. - The registration and issuance stage involves the China Securities Regulatory Commission (CSRC) reviewing the registration application and the company conducting the issuance process [10]. - The final stage includes the actual listing on the BSE, where the stock begins trading without price limits on the first day [11][12]. Group 2: Core Listing Requirements - The BSE has established four differentiated listing standards based on market capitalization, financial performance, and operational compliance, allowing for flexibility in meeting at least one of the criteria [14][15][16]. - Companies must demonstrate clear ownership structures, sound governance practices, and compliance with legal regulations, including a minimum of 12 months of listing on the New Third Board [16]. - The review process emphasizes the authenticity of revenue, financial data integrity, and the company's innovation capabilities, ensuring that companies disclose potential risks adequately [17][19]. Group 3: Unique Mechanisms and Considerations - The BSE's listing process is designed to facilitate a gradual transition from the New Third Board, creating a comprehensive service system that supports SMEs [20]. - Companies listed for over a year may apply to transfer to the Sci-Tech Innovation Board or the Growth Enterprise Market without needing to delist first, enhancing access to multi-tiered capital markets [20]. - The BSE's review cycle is relatively short, averaging about two months from acceptance to registration, benefiting from the prior listing on the New Third Board [20]. - Intermediary institutions play a crucial role in ensuring compliance and quality during the listing process, with increased regulatory oversight from the BSE [20][21].

Core Points - N Taike Ying (920020) was listed on the Beijing Stock Exchange today, opening at 19.05 yuan, a rise of 154.00% from its issue price [1] - The company specializes in the design, research and development, sales, and service of mining and construction tires [1] - The company's public offering consisted of 44.25 million shares at an issue price of 7.50 yuan, with an issue price-to-earnings ratio of 11.02 times [1] - The effective subscription amount for the online offering was 10,300,491,940 shares, resulting in a subscription multiple of 2586.44 times and an allocation ratio of 0.04% [1] Financial Performance - The projected net profits for the company from 2022 to 2024 are 108 million yuan, 138 million yuan, and 157 million yuan respectively [2]

Summary of Key Points Core Viewpoint The Beijing Stock Exchange (BSE) has seen a slight decrease in trading volume and value over the past week, while new IPO activities are ongoing with several companies in various stages of the listing process. Trading Activity - As of October 26, 2025, there are 279 companies listed on the BSE with a total share capital of 38.877 billion shares and a circulating share capital of 24.854 billion shares [2] - For the week of October 20-26, the trading volume was 3.932 billion shares, a decrease of 0.71% compared to the previous week, while the trading value was 90.162 billion yuan, down 2.64% [3] - The average trading price was 22.93 yuan, reflecting a decrease of 1.95% [3] - The BSE 50 Index rose by 2.74% to 1472.08 points, with 43 stocks increasing, 1 remaining flat, and 6 declining [3] New IPO Activities - During the week of October 20-26, one company applied for IPO, one company passed the listing committee meeting, and two companies had their applications accepted, with no new listings or registrations approved [6] - As of October 26, 2025, there are 85 companies awaiting review, including 4 that have been accepted, 74 under inquiry, 2 that passed the listing committee, and 5 that have submitted registration [6] Company-Specific Developments - **Danna (Tianjin) Biotechnology Co., Ltd.**: Plans to raise 137 million yuan for headquarters construction and new product development. The company reported revenues of 295 million yuan in 2022, 237 million yuan in 2023, and 240 million yuan in 2024, with net profits of 44.62 million yuan, 77.60 million yuan, and 87.19 million yuan respectively [10][11] - **Aisheren Medical Technology Group Co., Ltd.**: Passed the listing committee meeting and aims to raise 300 million yuan for a public health medical supplies industrial park. The company reported revenues of 574 million yuan in 2022, 575 million yuan in 2023, and 692 million yuan in 2024, with net profits of 62.80 million yuan, 66.94 million yuan, and 80.61 million yuan respectively [17][20] - **Dingxi High-Strength Fasteners Co., Ltd.**: Received acceptance for its IPO application, aiming to raise 385 million yuan for high-end industrial component manufacturing projects. The company reported revenues of 447 million yuan in 2022, 592 million yuan in 2023, and 799 million yuan in 2024, with net profits of 47.64 million yuan, 49.02 million yuan, and 61.03 million yuan respectively [23][24] - **Hongyi Automotive Technology Co., Ltd.**: Also received acceptance for its IPO application, planning to raise 818 million yuan for various projects including an intelligent factory for automotive parts. The company reported revenues of 1.308 billion yuan in 2022, 1.792 billion yuan in 2023, and 2.888 billion yuan in 2024, with net profits of 70.92 million yuan, 129 million yuan, and 243 million yuan respectively [25][28] Other Developments - **Guangdong Lingguang New Materials Co., Ltd.**: Terminated its IPO counseling process due to various strategic considerations [35][37]

Core Viewpoint - Chuangjiang New Materials (002171) is advancing its subsidiary Dingli Technology's listing on the Beijing Stock Exchange, while simultaneously promoting the industrialization of new materials such as continuous graphite purification and aluminum nitride powder [1] Group 1 - The company is currently in the second round of feedback for Dingli Technology's listing on the Beijing Stock Exchange [1] - The new factory in Liuyang has commenced production [1] - The company is expanding its overseas market presence, focusing on Russia, Japan, and Southeast Asia, leading to a significant increase in foreign trade revenue, which has become an important growth driver for its performance [1]

Core Viewpoint - The Shandong Securities Regulatory Bureau is enhancing the cultivation function of the New Third Board market and promoting compliance awareness among companies to better prepare for the listing opportunities on the Beijing Stock Exchange. Group 1: Training and Compliance - A training session was held for over 240 participants, including chairpersons and senior management of innovative layer companies and newly listed companies, focusing on compliance and development [1] - The meeting emphasized the importance of improving corporate governance, enhancing information disclosure, and deepening core business capabilities to strengthen competitiveness [1] Group 2: Regulatory Guidance - The training included presentations from the Beijing Stock Exchange and related intermediaries on current listing conditions, the new Company Law, and strategic planning [1] - Common illegal activities among listed companies were reported by the Shandong Securities Regulatory Bureau to guide companies in maintaining compliance [1] Group 3: Ongoing Training Initiatives - Since the beginning of the year, the Shandong Securities Regulatory Bureau has conducted seven on-site training sessions for public companies, covering topics such as information disclosure, compliance, and risk prevention [2] - Future efforts will focus on risk prevention, regulatory enforcement, and promoting high-quality development among public companies in the region [2]

Group 1 - Six companies, including Zhongxin Jingyuan, Haimingrun, Sentai Yingge, Detongxing, Zhongxing Lianhua, and Weifang Jinghua, have collectively listed on the New Third Board, covering key sectors such as high-end manufacturing, new materials, and semiconductors [1][2] - Zhongxin Jingyuan specializes in the research, production, and sales of semiconductor silicon wafers, offering products ranging from 4-inch to 12-inch polished wafers and epitaxial wafers, essential for various semiconductor products [1][2] - Zhongxin Jingyuan's clients include major semiconductor companies like TSMC, GlobalFoundries, Infineon, and Toshiba, as well as leading domestic firms such as Silan Microelectronics and Changjiang Storage [1][2] Group 2 - Zhongxing Lianhua focuses on high-end electronic measurement instruments, innovating in high-speed, wide bandwidth testing technologies, with applications in satellite communications and emerging fields like 5G and quantum technology [1][2] - Sentai Yingge is a developer of CNC tools and precision fixtures, serving industries such as automotive, aerospace, and energy equipment, and is one of the few companies providing complete metal cutting solutions in China [2] - Weifang Jinghua specializes in powder engineering technology, offering solutions for ultra-fine and ultra-pure grinding, applicable in lithium battery materials and environmental protection [2] Group 3 - Zhongxin Jingyuan has shifted its focus to an IPO on the Beijing Stock Exchange after an unsuccessful attempt to list on the Sci-Tech Innovation Board, with its application accepted by the Zhejiang Securities Regulatory Bureau [3] - Zhu Bingren Copper, which specializes in copper craft products, has also submitted its application for listing on the Beijing Stock Exchange shortly after its listing on the New Third Board [3]

Core Viewpoint - Tengmao Technology faced significant challenges during its previous listing application on the Beijing Stock Exchange, which was notably affected by a major fraud case involving over 2 billion yuan, leading to its withdrawal from the listing process [2][6][8]. Group 1: Company Background - Established in 2007, Tengmao Technology specializes in the research, production, and sales of molecular sieve catalysts, possessing a comprehensive business system in R&D and large-scale production [3]. - The company successfully listed on the New Third Board in August 2022, aiming to use this as a stepping stone for a future listing on the Beijing Stock Exchange [3]. Group 2: Previous Listing Attempts - Tengmao Technology submitted its first listing application to the Beijing Stock Exchange on October 11, 2023, but had to suspend the review process by December 28, 2023, due to the expiration of financial data [4]. - The company later terminated its listing application, citing strategic considerations and external market conditions, despite showing stable revenue and profit growth from 2020 to 2022 [4][5]. Group 3: Fraud Case Involvement - The company became embroiled in a "New Third Board pig-killing plate" fraud case that emerged in early 2025, which involved a group manipulating stock prices of New Third Board companies, including Tengmao Technology [6][7][10]. - This manipulation coincided with Tengmao Technology's listing efforts, leading to significant stock price volatility and investor losses [10][21]. Group 4: Financial Performance - Despite a 6.56% decline in revenue in 2023, Tengmao Technology's net profit increased by 13.05%, with its non-recurring net profit surpassing 40 million yuan [5]. - The company reported a revenue increase of 40.22% in the first half of 2025, reaching 140 million yuan, and a non-recurring net profit of 33.18 million yuan, marking a 52.83% year-on-year growth [25]. Group 5: Regulatory Scrutiny - The company faced scrutiny regarding its stock structure and potential undisclosed equity holding issues during its previous listing application, particularly concerning a mysterious shareholder who entered during a critical period [26][27]. - Concerns were raised about the legitimacy of several interest-free loans and the potential for capital cycling, which could affect the clarity of the company's equity structure [29][30].