Core Viewpoint - The company, Daoshengtianhe Materials Technology (Shanghai) Co., Ltd., has received approval for its initial public offering (IPO) of RMB ordinary shares (A-shares) and will be listed on the main board of the Shanghai Stock Exchange [1]. Group 1: IPO Details - The total number of shares for this issuance is set at 13,188,000 shares, with an initial strategic placement of 3,956,400 shares, accounting for 30% of the total issuance [2]. - The final strategic placement amount is 2,079,431 shares, which is 15.77% of the total issuance, leading to a reallocation of 1,876,969 shares to offline issuance [2]. - The issuance price is determined at RMB 5.98 per share, with a total issuance scale of RMB 78,864.24 million [9]. Group 2: Subscription and Allocation - The online subscription received an initial effective subscription multiple of approximately 6,170.64 times, prompting the activation of a reallocation mechanism [3]. - After the reallocation, the final offline issuance quantity is 3,895,669 shares, representing 35.07% of the total issuance, while the online issuance quantity is 7,212,900 shares, accounting for 64.93% [3]. - The final winning rate for online issuance is 0.04220717% [3]. Group 3: Strategic Placement Participants - Strategic placement participants include large enterprises with strategic cooperation relationships with the issuer, such as China Shipbuilding Group Investment Co., Ltd. and SANY Heavy Energy Co., Ltd. [7]. - The participants have signed strategic placement agreements with the issuer, confirming their commitment to the investment [8]. Group 4: Payment and Compliance - Investors are required to fulfill their payment obligations by October 9, 2025, ensuring that funds are available in their accounts by the deadline [4][5]. - If the total subscription does not reach at least 70% of the total issuance after the final strategic placement, the IPO will be suspended [5].

Core Points - The application for the initial public offering (IPO) of DaoSheng TianHe Materials Technology (Shanghai) Co., Ltd. has been approved by the Shanghai Stock Exchange and registered by the China Securities Regulatory Commission [1][2] - The total number of shares to be issued is 131.88 million, with an initial strategic placement of 39.56 million shares, accounting for 30% of the total issuance [2] - The final strategic placement quantity is 20.79 million shares, approximately 15.77% of the total issuance, with the difference being allocated to offline issuance [2] Issuance Structure - The issuance will combine strategic placement, offline issuance, and online issuance, with offline investors receiving 83.39 million shares (75.07% of the adjusted total) and online investors receiving 27.69 million shares (24.93% of the adjusted total) [2] - The final issuance price is set at 5.98 yuan per share, with the initial online issuance of 27.69 million shares scheduled for September 29, 2025 [2] Payment Obligations - Investors must fulfill their payment obligations by October 9, 2025, with specific instructions for offline and online investors regarding payment processes [3][4] - A 10% lock-up period applies to 10% of the shares allocated to offline investors, lasting for six months from the date of listing [4] Subscription and Allocation - The online subscription saw 13,135,673 valid applications for a total of 170.89 billion shares, resulting in an initial online winning rate of 0.01620578% [5] - Due to a high subscription rate of approximately 6,170.64 times, a mechanism was activated to adjust the allocation, resulting in 40% of the shares being reallocated from offline to online issuance [6] Lottery and Announcement - The lottery for online subscriptions is scheduled for September 30, 2025, with results to be announced on October 9, 2025 [7]

Core Points - The company, 超颖电子电路股份有限公司, has received approval for its initial public offering (IPO) of up to 525 million shares of A-shares, representing 12.01% of the total post-issue share capital [1] - The IPO will be conducted through a combination of strategic placement, offline issuance, and online issuance, with a final issuance price set at 17.08 yuan per share [2][3] - The strategic placement initially planned for 105 million shares was adjusted to 70.26 million shares, accounting for 13.38% of the total issuance, with the difference allocated to offline issuance [2][3] Strategic Placement - The strategic placement involved large enterprises with long-term cooperation visions, including 黄石国鑫 and 深圳市高新投创业投资有限公司 [8] - All strategic placement investors have timely deposited their subscription funds, and excess amounts will be refunded by the underwriter [9][10] Issuance Details - The final allocation for offline issuance was 1,468.42 million shares, while online issuance was 3,079 million shares, following the activation of the allocation mechanism due to high demand [3][11] - The initial effective subscription multiple for online issuance was 8,541.55 times, leading to a significant adjustment in the allocation between offline and online investors [3] Payment Obligations - Investors are required to fulfill their payment obligations by October 17, 2025, with specific instructions for both offline and online investors to ensure timely and sufficient fund transfers [4][6] - A penalty for non-compliance with payment obligations includes a prohibition on future participation in IPOs for online investors who fail to pay adequately [6] Overall Subscription Results - The total effective subscription for offline issuance reached 13,297.7 million shares, confirming strong market interest [11][12] - The initial allocation results for offline investors were conducted according to established guidelines, with no remaining shares after the initial allocation [13]

Core Viewpoint - The company, Suzhou Huichuan United Power System Co., Ltd., has received approval for its initial public offering (IPO) of 288.57491 million shares at a price of RMB 12.48 per share, with the underwriting managed by Guotai Junan Securities Co., Ltd. [1][2] Issuance Details - The total number of shares for this issuance is 288.57491 million, with the entire offering being new shares and no existing shares being sold by current shareholders [2] - The initial strategic placement was set at 86.572473 million shares, accounting for 30% of the total issuance, with the final strategic placement amounting to 84.935893 million shares, or 29.43% of the total [3][6] Subscription Mechanism - The issuance will utilize a combination of strategic placement, offline inquiry placement, and online issuance to the public, with the stock code being "301656" [1] - The offline initial issuance was 163.239017 million shares, representing 80.16% of the remaining shares after strategic placement, while the online initial issuance was 40.4 million shares, or 19.84% [4] Subscription Results - The online subscription saw a total of 80,827,455 shares subscribed, amounting to RMB 1,008,726,638.40, while offline investors subscribed for 122,508,522 shares, totaling RMB 1,528,906,354.56 [8][9] - The final online issuance rate was 0.0328%, with a subscription multiple of 3,047.16 times [4] Underwriting and Fees - Guotai Junan Securities fully underwrote the shares that were not subscribed, totaling 303,040 shares, with an underwriting amount of RMB 3,781,939.20 [10] - The total issuance costs amounted to RMB 73.449 million, including various fees such as underwriting, auditing, and legal expenses [11]

Core Viewpoint - Suzhou Huichuan United Power System Co., Ltd. has received approval for its initial public offering (IPO) of 288.57491 million shares at a price of RMB 12.48 per share, with a combination of strategic placement, offline issuance, and online issuance methods [1][2][3]. Strategic Placement - The initial strategic placement was set at 86.572473 million shares, accounting for 30% of the total issuance, with the final strategic placement amounting to 84.935893 million shares, or 29.43% of the total [3][10]. - The strategic placement includes shares allocated to senior management and core employees, totaling 19.230769 million shares (6.66% of total issuance), and other investors receiving 65.705124 million shares (22.77% of total issuance) [3][10]. Issuance Mechanism - The issuance will be conducted through a combination of strategic placement, offline inquiries, and online pricing for public investors holding non-restricted A-shares and non-restricted depositary receipts [1][2]. - The final issuance price is determined based on the lower of the median and weighted average of bids from qualified investors and certain funds [2][10]. Subscription and Allocation - The initial offline issuance quantity was 163.239017 million shares, representing 80.16% of the remaining shares after strategic placement, while the online issuance was 40.4 million shares (19.84%) [3][4]. - A mechanism for reallocating shares from offline to online issuance was activated due to a high subscription rate, resulting in an online final issuance quantity of 81.128 million shares (39.84%) [4][12]. Payment and Compliance - Investors must ensure that subscription funds are fully paid by the specified deadline; failure to do so will result in the invalidation of their allocation [5][6]. - The shares from the online issuance will have no restrictions on circulation, while 30% of the offline shares will be subject to a six-month lock-up period [7][8]. Investor Participation - As of September 10, 2025, all strategic placement investors have timely paid their subscription funds, and any excess funds will be refunded by September 19, 2025 [11]. - The offline subscription process concluded on September 15, 2025, with 275 investors managing 7,799 valid bids [13][14].

Core Points - The company, Suzhou Huichuan United Power System Co., Ltd., has received approval for its initial public offering (IPO) of 288.57491 million shares at a price of RMB 12.48 per share [1][2] Group 1: Issuance Details - The IPO will be conducted through a combination of strategic placement, offline issuance to qualified investors, and online issuance to the public [1] - The initial strategic placement will consist of 86.572473 million shares, accounting for 30% of the total issuance [2] - The final strategic placement shares amount to 84.935893 million shares, which is 29.43% of the total issuance, with the difference being allocated to offline issuance [2][3] Group 2: Subscription and Payment Process - Offline investors must pay for their subscriptions by September 17, 2025, and failure to do so will result in the invalidation of their allocations [4][5] - Online investors must ensure sufficient funds are available in their accounts by the same date to avoid forfeiting their allocations [5] Group 3: Lock-up Periods - Shares from the online issuance will have no restrictions and can be traded immediately upon listing [6] - For offline investors, 30% of their allocated shares will be subject to a six-month lock-up period, while 70% will be unrestricted [6] Group 4: Subscription Statistics - The online issuance received 13,329,409 valid applications, totaling 247.210275 billion shares, with a final subscription rate of 0.0328% [8][9] - The initial subscription multiple was 6,119.06621 times, leading to the activation of the allocation mechanism [9] Group 5: Lottery and Results Announcement - The lottery for the online issuance will take place on September 16, 2025, with results announced on September 17, 2025 [11]

Core Viewpoint - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21.67 million shares on the ChiNext board, with a determined issue price of RMB 27.69 per share [1][10]. Group 1: Issuance Details - The IPO will utilize a combination of strategic placement, offline issuance to qualified investors, and online issuance to the public [1]. - The initial strategic placement was set at 4.33 million shares, accounting for 20% of the total issuance, with the final strategic placement amounting to 4.26 million shares, or 19.67% of the total [3][10]. - The final strategic placement included 2.09 million shares from senior management and core employees, representing 9.67% of the total issuance, and 2.17 million shares from other investors, representing 10% [3][10]. Group 2: Subscription and Allocation - The initial offline issuance was 12.21 million shares, making up 70.13% of the total issuance after deducting the final strategic placement [3]. - Due to a high subscription rate of 10,974.57 times, a mechanism was activated to reallocate 348.20 million shares from offline to online issuance, resulting in final allocations of 872.60 million shares offline and 868.25 million shares online [4][12]. - The online issuance has no restrictions on circulation, while 10% of the offline shares will have a six-month lock-up period [7]. Group 3: Payment and Compliance - Investors must ensure that subscription funds are fully received by the specified deadline; otherwise, their allocations will be void [5][6]. - The issuer and underwriter will halt the issuance if the total subscriptions fall below 70% of the available shares after strategic placements [8]. - Any failure to comply with payment obligations will result in penalties, and the underwriter will report such breaches to the relevant authorities [8].

Core Viewpoint - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21.67 million shares on the ChiNext board, with the underwriting led by Zheshang Securities Co., Ltd. [1][6] Group 1: IPO Details - The IPO will consist of 21.67 million shares, representing 25% of the company's total share capital post-issuance, which will total 86.67 million shares [1] - The initial strategic placement will involve 4.33 million shares, accounting for 20% of the total issuance, with 2.17 million shares allocated to senior management and core employees [2] - The offline initial issuance will be 12.14 million shares, making up 70% of the remaining shares after strategic placement, while the online issuance will be 5.20 million shares, representing 30% [3] Group 2: Issuance Mechanism - The issuance will utilize a combination of strategic placement, offline pricing inquiries, and online pricing for public investors holding non-restricted A-shares [1][2] - The final allocation of shares between offline and online issuance will be determined based on the results of the strategic placement and will be announced on September 3, 2025 [3] Group 3: Investor Engagement - The company and the lead underwriter will hold an online roadshow to provide investors with insights into the company's fundamentals and the IPO process [3] - The online roadshow is scheduled for August 29, 2025, from 14:00 to 17:00 [3]

Core Points - Jiangyin Huaxin Precision Technology Co., Ltd. has successfully completed its initial public offering (IPO) and is set to list on the main board of the Shanghai Stock Exchange [1][2] - The total number of shares issued in this IPO is 43.7375 million, with a final strategic placement of 8.7475 million shares, accounting for 20% of the total issuance [2][3] - The final issuance price is set at 18.60 RMB per share, with the total number of shares available for online issuance being 13.996 million [2][3] Strategic Placement - The strategic placement involved a total of 8.7475 million shares, which is 20% of the total issuance, and the funds for this placement have been fully transferred to the designated bank account [2][6] - The strategic placement participants include senior management and core employees of the company, as well as large enterprises with strategic cooperation relationships [6][7] Issuance Mechanism - The issuance combines strategic placement, offline inquiry-based placement, and online pricing issuance, with the online issuance accounting for 80% of the shares after the strategic placement [2][3] - The initial effective subscription multiple for the online issuance was approximately 7,825.56 times, leading to the activation of the allocation adjustment mechanism [3][11] Subscription Results - The final allocation after the adjustment mechanism resulted in 6.998 million shares for offline investors and 27.992 million shares for online investors, with an online winning rate of 0.02555726% [3][11] - A total of 55,984 winning numbers were generated for online investors, with specific winning number sequences provided [10][11] Payment Obligations - Investors are required to fulfill their payment obligations by August 27, 2025, ensuring sufficient funds are available in their accounts [3][5] - Any failure to pay the required amount will be considered a waiver of subscription, and the consequences will be borne by the investors [5][6]

Group 1 - The company, Jiangxi Aifenda HVAC Technology Co., Ltd., is set to conduct an initial public offering (IPO) on the Shenzhen Stock Exchange, with the main underwriter being Zheshang Securities Co., Ltd. [1][2][20] - The total number of new shares to be publicly issued is 21.67 million, representing 25% of the company's total share capital post-IPO, which will amount to 86.67 million shares [28][20]. - The initial strategic placement will involve 4.334 million shares, accounting for 20% of the total issuance, with a maximum subscription amount for management and core employees set at 10% of the total issuance [21][28]. Group 2 - The issuance will combine offline inquiries and online offerings, with the pricing determined through initial inquiries from qualified institutional investors [26][20]. - The offline issuance will be conducted through the Shenzhen Stock Exchange's electronic platform, while the online issuance will utilize the trading system of the exchange [2][26]. - The company will implement a lock-up period for 10% of the shares allocated to offline investors, which will be restricted for six months post-listing [12][28]. Group 3 - The company and the main underwriter will ensure compliance with regulatory requirements during the inquiry and issuance process, including investor qualifications and asset scale verification [24][30]. - The final allocation of shares will be determined based on the results of the offline inquiries, with a minimum of 10 valid bids required for participation [12][29]. - The company will disclose the final issuance results and allocation details in a public announcement following the completion of the offering [29][34].