Core Viewpoint - Zhongcheng Consulting has successfully passed the listing review by the Beijing Stock Exchange, meeting the issuance, listing, and information disclosure requirements [1] Industry Overview - The engineering consulting market is experiencing steady growth, driven by new urbanization and infrastructure investment, with total fixed asset investment in China increasing from 49.32 trillion yuan in 2020 to 52.09 trillion yuan in 2024 [5] - The demand for engineering consulting services is also being boosted by the rural revitalization strategy, which has led to an increase in rural infrastructure needs [8] - The revenue from engineering cost consulting in China grew from 66.12 billion yuan in 2017 to 114.5 billion yuan in 2022, with a compound annual growth rate (CAGR) of 11.5% [8] Company Situation Performance - Revenue for Zhongcheng Consulting from 2022 to 2024 is projected to be 303 million yuan, 368 million yuan, and 396 million yuan, respectively, with a CAGR of 15.1% [11] - The company's net profit attributable to shareholders for the same period is expected to be 64.36 million yuan, 81.06 million yuan, and 105.39 million yuan, with a CAGR of 27.97% [15] Revenue Structure - Engineering cost consulting is the primary revenue source, consistently accounting for over 50% of total revenue from 2022 to 2024 [13] - In 2024, the revenue breakdown includes: - Engineering cost: 21.01 million yuan (53.26%) - Bidding agency: 3.18 million yuan (8.07%) - Engineering supervision and management: 5.30 million yuan (13.42%) - Whole-process consulting: 4.49 million yuan (11.38%) - Other technical services: 5.47 million yuan (13.87%) [14] Competitive Advantages - Zhongcheng Consulting is one of the early adopters of the whole-process consulting model, which enhances project quality and safety while improving efficiency and reducing costs [16] - The company has invested in R&D, with expenses rising from 14.13 million yuan in 2022 to 20.71 million yuan in 2023, representing 4.66% and 5.62% of revenue, respectively [17] - The company has established a strong presence in Jiangsu Province, with over 96% of its revenue coming from this region from 2022 to 2024 [19] Future Plans - The company plans to raise 200 million yuan through its IPO to fund projects related to engineering consulting service network construction and R&D [22]

Group 1 - The report provides a comprehensive overview of the development dynamics and future scale predictions for the Chinese engineering bidding agency industry from 2025 to 2031 [1][3] - It includes a detailed analysis of the macro environment affecting the industry, including policy, economic, social, and technological factors [4][5][6] - The report outlines the classification of engineering bidding agencies based on qualifications and business undertakings [4][5] Group 2 - The macroeconomic analysis highlights China's GDP growth, industrial structure, and fixed asset investment trends, which are crucial for the engineering bidding agency sector [5][6] - The report discusses the impact of national policies and regulations on the engineering bidding agency industry, including the regulatory framework and self-regulatory organizations [4][5] - It also examines the correlation between the development of the engineering bidding agency industry and macroeconomic indicators [5][6] Group 3 - The global engineering bidding agency industry is analyzed, including its historical development, current status, and regional market trends [6][7] - Key case studies of major global players such as AECOM and Fluor are presented, along with their market strategies and competitive landscapes [6][7] - The report forecasts future trends and market prospects for the global engineering bidding agency industry, considering the impact of the COVID-19 pandemic [6][7] Group 4 - The report provides a panoramic analysis of the market participants in the Chinese engineering bidding agency industry, including the types of agencies and their entry methods [8][9] - It includes an analysis of the characteristics of registered enterprises in the industry, such as the number of new registrations and capital distribution [8][9] - The financial performance of the industry is assessed, including revenue analysis and profitability levels [8][9] Group 5 - The competitive landscape of the Chinese engineering bidding agency industry is examined, including market concentration and competitive dynamics [10][11] - The report discusses investment trends, mergers, and acquisitions within the industry, highlighting significant events and their implications [10][11] - It also analyzes the challenges and pain points faced by the industry, providing insights into market pricing and operational difficulties [10][11] Group 6 - The report outlines the value chain and cost structure of the engineering bidding agency industry, providing insights into pricing mechanisms [12][13] - It discusses the demand analysis for various types of bidding services, including engineering design, project supervision, and construction bidding [12][13] - The strategic positioning of the industry in various application markets is also analyzed, including construction and public works [12][13] Group 7 - A SWOT analysis of the Chinese engineering bidding agency industry is included, assessing its strengths, weaknesses, opportunities, and threats [14][15] - The report predicts the industry's development potential and future trends over the next five years, focusing on competitive and demand trends [14][15] - Investment strategies and recommendations for entering or exiting the industry are provided, along with insights into sustainable development practices [14][15]

Core Points - The company has signed a comprehensive engineering consulting service contract for the Hebei Handan Million Chicken Agricultural Technology Industrial Park, with a total contract value of 175.44 million yuan [1][2][4] - The project involves various consulting services including project management, engineering surveying, planning and design, supervision, cost consulting, bidding agency, financing consulting, and other specialized evaluation consulting [1][2] - The company will undertake a portion of the contract amounting to 131.05 million yuan, which represents 1.07% of the company's projected total revenue for 2024 [4] Contract Details - The contract is between Shenzhen Chenkai Investment Holdings Co., Ltd. as the client and a consortium led by Beijing Xing International Engineering Management Co., Ltd. [2][3] - The service period extends from the signing of the contract until the project completion and acceptance [3] - The consortium members are jointly responsible for providing the consulting services and bear joint liability [3] Impact on the Company - The execution of this contract is expected to enhance the company's professional technical level, comprehensive performance capabilities, and market expansion ability in the domestic engineering consulting sector [4] - The project is significant in scale and contract value, indicating the company's strong position in the engineering consulting industry [4]

Core Viewpoint - The announcement discusses the potential dilution of immediate returns due to the issuance of A-shares to specific investors, along with measures to mitigate this impact and commitments from relevant parties [1][5][11]. Financial Impact - The issuance will increase the total share capital from 14,013.40 million shares to 18,217.42 million shares [2]. - Under three scenarios for 2025 net profit, the diluted earnings per share (EPS) will be affected as follows: - Scenario 1 (net profit unchanged): Basic EPS will decrease from -0.36 to -0.34 [2][4]. - Scenario 2 (net profit decreases by 10%): Basic EPS will decrease from -0.36 to -0.38 [3][4]. - Scenario 3 (net profit increases by 10%): Basic EPS will improve from -0.36 to -0.30 [4]. Necessity and Feasibility of Issuance - The issuance aims to support business expansion and technological integration, enhancing the company's overall strength and market share [6][7]. - The funds raised will alleviate working capital pressure and improve the company's financial structure, reducing the debt ratio from 71.05% [6][7]. Measures to Mitigate Dilution Risk - The company will implement a robust fund management system to ensure effective use of raised capital, adhering to legal regulations [8][9]. - The governance structure will be strengthened to enhance internal controls and operational efficiency [9]. - A profit distribution policy will be established to ensure reasonable returns for shareholders, particularly small investors [9]. Commitments from Relevant Parties - The controlling shareholder and actual controller have committed to not interfering with the company's management and to fulfill the measures to mitigate dilution [11][12]. - The board of directors and senior management have also made commitments to protect the company's interests and ensure compliance with regulations [11][12].

Core Viewpoint - The company, Zhongda An Co., Ltd., has signed a conditional share subscription agreement with Xiamen Jianxi, which will lead to a change in control of the company as Xiamen Jianxi will become the controlling shareholder after the issuance of shares [1][2]. Summary by Sections 1. Overview of Related Transactions - Zhongda An plans to issue up to 42,040,200 shares to Xiamen Jianxi for a total cash subscription amount not exceeding 365.75 million yuan, which is less than 30% of the company's total share capital before the issuance [1][2]. 2. Change in Control - Following the issuance, Xiamen Jianxi will become the controlling shareholder, and Wang Li will be the actual controller of the company [2]. 3. Related Party Information - Xiamen Jianxi was established on May 10, 2024, with a registered capital of 151 million yuan. As of December 31, 2024, it reported total assets of 0.05 million yuan and a net asset of -0.30 million yuan [3][4]. 4. Issuance Details - The issuance price is set at 8.70 yuan per share, which is not lower than 80% of the average trading price over the 20 trading days prior to the pricing benchmark date [4][5]. 5. Purpose and Impact of the Transaction - The funds raised will be used to supplement working capital and repay debts, which will alleviate operational pressure and enhance the company's financial strength. The company aims to optimize its capital structure and reduce its debt level, which was 71.05% as of March 31, 2025 [14][15]. 6. Approval Process - The transaction requires approval from the higher authorities, including the shareholders' meeting, regulatory bodies, and the Shenzhen Stock Exchange, before it can be implemented [2][16]. 7. Related Transactions in the Current Year - There have been no other related transactions between Zhongda An and Xiamen Jianxi since the beginning of the year until the date of this announcement [15]. 8. Review Procedures - The independent directors, board of directors, and supervisory board have all approved the agreement related to the share issuance [15][16].

Financial Performance - In 2024, the company's operating revenue was 68,819.71 million yuan, with an operating loss of -5,677.58 million yuan [1][3][5][8] - The company reported a significant decline in net profit attributable to shareholders compared to 2023 [10][12] Business Segments Performance - Communication supervision generated revenue of 103,024,121.82 yuan, accounting for 14.97% of total revenue [5] - Civil engineering supervision achieved revenue of 135,521,274.31 yuan, representing 19.69% of total revenue [5] - Consulting and construction management brought in 154,113,952.29 yuan, making up 22.39% of total revenue [5] - Electrical supervision earned 135,729,063.65 yuan, which is 19.72% of total revenue [5] - Water conservancy supervision generated 112,911,674.28 yuan, accounting for 16.41% of total revenue [5] Strategic Development - The company aims to expand its operational scale, enhance market share, and optimize business layout as core objectives [6][9][12] - Future growth opportunities are identified in the application of emerging technologies such as 5G, IoT, AI, and big data [6][9] - The company plans to integrate various services including engineering consulting, surveying, design, cost consulting, bidding agency, project management, and risk management into a comprehensive service system [9][12] Industry Outlook - The engineering supervision industry is expected to experience new growth opportunities driven by national policies promoting comprehensive engineering consulting models [7][8] - The integration of digital technologies and smart construction is anticipated to provide additional momentum for industry development [8] Shareholder Relations and Dividends - Due to a negative net profit for 2024, the company will not distribute cash dividends or issue new shares [10][12] - The company emphasizes the importance of improving operational efficiency and enhancing shareholder value in future plans [10][12]

Core Viewpoint - The company has shown signs of recovery in its financial performance, with a notable increase in cash flow and a positive outlook for future growth driven by both external and internal factors [1][5][8]. Financial Performance - In Q1 2025, the company reported a revenue of 413 million yuan and a net profit of 55 million yuan, marking a year-on-year increase of 3.84%, reversing a trend of declining profits over the previous three quarters [1]. - For the year 2024, the company achieved a revenue of 1.977 billion yuan, a decrease of 17.24% year-on-year, and a net profit of 230 million yuan, down 9.51% year-on-year [5]. - The company plans to distribute a cash dividend of 0.8 yuan per 10 shares, amounting to approximately 37.19 million yuan, which represents 16.15% of the net profit attributable to shareholders for 2024 [3]. Business Overview - The company specializes in engineering consulting services, offering a comprehensive range of services including planning consulting, surveying and design, project management, and total engineering contracting [4][6]. - It has developed a robust set of qualifications across various sectors such as transportation, municipal, construction, and water conservancy, enabling it to provide "one-stop" engineering technical services [6]. Market Dynamics - Since 2025, there has been a noticeable divergence in fixed asset investment, with significant improvements in certain provinces in the central and northeastern regions, indicating potential investment opportunities and a positive shift in local government attitudes towards infrastructure investment [3]. - The company is capitalizing on national strategies such as the development of the western region and ecological protection initiatives, which are expected to provide new growth opportunities [8]. Internal Development - The company has focused on talent acquisition and development, hiring 181 new employees and promoting 13 middle-level managers, which strengthens its operational capabilities [6]. - Research and development efforts have been robust, with an R&D intensity of 5.92%, leading to numerous patents and awards, enhancing the company's technological capabilities [7]. Strategic Initiatives - The company is expanding its business model from traditional consulting to encompass the entire engineering construction industry chain, which is expected to drive sustained profitability [8]. - It is actively optimizing its market presence within the province while also exploring opportunities in external markets, thereby enhancing its competitive edge [9].

Core Viewpoint - The company is engaged in various engineering consulting services, including project supervision, testing and inspection, bidding services, surveying and geographic information services, and design and investigation, positioning itself as a leading comprehensive engineering consulting service provider in Fujian Province [4][18]. Company Overview - The company has undergone a change in its auditing firm to Huaxing Certified Public Accountants (Special General Partnership) for the current reporting period [2]. - The company has not declared any cash dividends or stock bonuses for the reporting period [3]. - The company provides a range of engineering consulting services, including project supervision, testing and inspection, bidding services, surveying and geographic information services, design and investigation, and other technical services [4][18]. Industry Situation - The engineering consulting industry is experiencing significant changes, with a shift towards comprehensive, integrated consulting services that cover the entire lifecycle of construction projects [15]. - Current economic challenges present new opportunities for the engineering consulting sector, driven by government policies aimed at resource allocation and industrial upgrades [14]. - The industry is characterized by regional features, with local firms leveraging their deep understanding of regional projects and client relationships to gain competitive advantages [16]. - The trend of "Matthew Effect" is becoming more pronounced, with leading firms expanding their national presence as they meet diverse client needs through comprehensive service offerings [17].

青矩技术股份有限公司 北京市海淀区车公庄西路 19 号 68 号楼 3 层 306 青矩技术股份有限公司招股说明书 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 临较大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因 素，审慎作出投资决定。 保荐机构（主承销商） （北京市朝阳区安立路 66 号 4 号楼） 证券简称： 青矩技术 证券代码： 836208 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利 能力、投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属 虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行 负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股票依法发行后 因发行人经营与收益变化或者股票价格变动引致的投资风险。 1-1-1 声明 发行人及全体董事、监事、高级管理人 ...

证券简称： 青矩技术 证券代码： 836208 青矩技术股份有限公司 北京市海淀区车公庄西路 19 号 68 号楼 3 层 306 青矩技术股份有限公司招股说明书（注册稿） 效力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 临较大的市场风险。投资者应充分了解北京证券交易所市场的投资风险及本公司所披露的风险因 素，审慎作出投资决定。 保荐机构（主承销商） （北京市朝阳区安立路 66 号 4 号楼） 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主 要服务创新型中小企业，上市公司具有经营风险高、业绩不稳定、退市风险高等特点，投资者面 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈利 能力、投资价值或者对投资者的收益作出实质性判断或者保证。任何与之相反的声明均属 虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发行人自行 负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股票依法发行后 因发行人经营与收益变化或者股票价格 ...