Over the last couple of years, actually, Caroline and I've tracked very closely the valuation of private. I wouldn't even say just fintech. You know, it's more specific modern banking services, multi-platform offering.But just to start. Why raise that money. What do you need it for.How does it help out with growth. Yeah. So we're in the fortunate situation of being cash flow positive, so we don't need an asset.Yes. But as we think about the evolution of the company, we're sort of getting closer to I think t ...

We heard just before the break the Senate once again failing to pass that stop gap measure to reopen the government with the shutdown now in day 16. Some investors are worried that staff reductions at the SEC will stall this year's IPO momentum. But could stronger than expected demand keep that pipeline moving.Joining us for today's tech check is CBC contributor and Fortune contributing editor Mal Levi. What are we hearing about companies looking to go public. Is this sort of interruption in SEC activity re ...

Basics of Stocks - Stocks, also known as shares, represent ownership in a company, providing partial claims to its assets and earnings [1][2] - Companies issue shares to raise capital, often through an IPO (Initial Public Offering), which lists the company's shares on the stock market [2] - Stock prices are determined by supply and demand, with investor demand largely based on the expected future performance of the company [3] Investment Principles - An investment is anything expected to gain value or generate income over time, with stocks achieving this through capital appreciation and dividends [5][6] - Capital appreciation occurs as a company grows in value, increasing the value of its shares; dividends involve companies distributing excess profits to shareholders [7][8] - Reinvesting returns generates further returns, creating a compounding effect that significantly increases wealth accumulation over time [12] Investing vs Saving - Investing allows for returns that can outpace inflation, building wealth over time, unlike saving which may lose value due to inflation [11][12] - Compounding is a powerful effect where investment returns generate their own returns, leading to substantial growth over time [12][13] - Starting to invest early is crucial, as it allows more time for money to compound and grow [15]

Core Viewpoint - Shenzhen Tian Su Measurement Testing Co., Ltd. is set to undergo an IPO review by the Shenzhen Stock Exchange on October 16, 2025, with an expected fundraising amount of 4.239 billion yuan [1][3]. Company Overview - Shenzhen Tian Su Measurement Testing Co., Ltd. is a national, comprehensive independent third-party measurement testing service provider, focusing on calibration, testing, and certification services across various sectors including biomedicine, automotive, new energy, rail transportation, energy power, light industry, and equipment manufacturing [3]. - The controlling shareholder and actual controller is individual shareholder Gong Tianbao, who holds 85.86% of the voting rights prior to the company's issuance [3]. Financial Performance - The company's revenue for the reporting period was 597.2009 million yuan, 725.7104 million yuan, 800.1169 million yuan, and 409.1361 million yuan, with a compound annual growth rate of 15.75% from 2022 to 2024 [4]. - Net profit attributable to the parent company was 84.3854 million yuan, 101.2520 million yuan, 111.0568 million yuan, and 55.5762 million yuan [4]. - As of June 30, 2025, total assets amounted to 729.1946 million yuan, with equity attributable to the parent company at 576.1199 million yuan [5]. - The company's debt-to-asset ratio was 18.45% for the parent company and 20.99% for the consolidated entity [5]. Future Projections - The company anticipates a revenue growth of approximately 8.11% to 12.48% year-on-year for 2025, with net profit growth expected to be between 8.05% and 12.56% [7]. - The company plans to invest the raised funds into projects including the enhancement of measurement testing capabilities, construction of regional testing laboratories, and the establishment of a digital center, totaling an investment of 42.38991 million yuan [7]. Key Issues Raised - The listing committee has raised questions regarding the company's high sales expense ratio and low R&D intensity, inquiring about the sustainability of performance growth in light of industry technological upgrades and competitive dynamics [7][8].

Core Insights - The event in Zhengzhou focused on stimulating merger and acquisition (M&A) activities to promote high-quality industrial development, highlighting the integration of finance and industry [1][4] - Professor Guo Jianluan emphasized that M&A is a crucial financial tool for optimizing existing resources and fostering innovation in capital markets, with successful companies often leveraging M&A for growth [3][4] Group 1: M&A Market Trends - The Chinese M&A market is undergoing unprecedented transformation, driven by policy guidance and market demand, with a projected high double-digit growth in total M&A transaction volume by 2025 [4] - Sectors such as semiconductors and new energy are expected to see increased consolidation, as M&A shifts from scale expansion to quality enhancement and strategic collaboration [4] Group 2: M&A as a Strategic Tool - M&A is becoming a mainstream approach, surpassing IPOs, due to pressures in the IPO market and the introduction of new regulations that create significant market momentum [4] - The future of industrial M&A will transition from direct to professional acquisitions, and from financial to strategic mergers [4] Group 3: Risks and Success Factors in M&A - Guo outlined the "70% rule" in M&A, indicating that 70% of M&A cases fail, with integration issues often stemming from cultural mismatches [5] - Successful M&A requires careful selection of target companies, strategic alignment, and cultural compatibility, emphasizing the importance of team quality over project quality [5]

招股书显示，瀚天天成是全球率先实现8英吋碳化硅外延芯片大批量外供的生产商，也是中国首家实现商业化3英吋、4英 吋、6英吋和8英吋碳化硅外延芯片批量供应的生产商。 根据灼识咨询的报告，自2023年来，按年销售片数计，瀚天天成是全球最大的碳化硅外延供货商，2024年的市场份额超过 30%。 | | 截至12月31日止年度 | | | 截至5月31日止五個月 | | | --- | --- | --- | --- | --- | --- | | | 2022年 | 2023年 | 2024年 | 2024年 | 2025年 | | | | | (人民幣千元) | | | | | | | | (未經審計) | | | 收入 | 440,691 1,142,502 | | 974,316 | 380,516 | 266,406 | | 銷售成本 | (243,754) | (697,103) | (642,007) | (256,783) | (216,663) | | 毛利 | 196,937 | 445,399 | 332,309 | 123,733 | 49,743 | | 其他收入及 | | | | | | | ...

Tata Capital just completed India’s biggest IPOof the year but it turns out that LG India's smaller deal was the more lucrative job for the banks https://t.co/mcMGfoZgf1 ...

随着招股书的过期和诉讼危机的笼罩，海辰储能想再找到一个绝佳的IPO窗口，恐怕并不容易。 作者|杨知潮 来源：略大参考 打铁需趁热，2025年3月，海辰储能向港交所递交了招股书。行业热、业绩好，如果在这个时候IPO，海辰储能有机会获得一个相对更好的估值逻辑。 | 最高:2282.87 | 今开:2211.60 | 成交量：1.97亿手 | 换手:2.46% | | --- | --- | --- | --- | | 最低:2208.57 | 昨收:2309.09 | 成交额:3524.51亿 | 量比: 1.16 | | 52周最高: 2337.99 | 上涨:128 | 振幅:0.03% | 平盘:3 | | 52周最低：1431.45 | 下跌:546 | 总市值:15.04万亿 | 流通值:12.82万亿 | IPO要讲时机。 再好的中国公司，如果赶在瑞幸咖啡造假退市的那段时间上市，恐怕都会有些艰难。以至于彼时很多中国公司都暂缓了IPO，想等瑞幸的风波过去。这是 外部时机，内部时机上，则要赶在企业增速最快、利润率最漂亮的时候IPO。 尤其是周期性行业。 国内头部储能企业海辰储能成立六年，终于赶上了行业周期 ...

Core Viewpoint - Tianpu Co., Ltd. (605255) experienced a significant drop in stock price after a 15-day consecutive limit-up period, raising concerns about trading risks and potential price corrections [1][2] Group 1: Stock Performance - Tianpu Co., Ltd. opened at a limit-down price of 100.15 yuan per share, with over 25,000 shares on the limit-down order [1] - The stock had previously increased by 317.72% over the 15 trading days from August 22, 2025, to September 23, 2025 [1] Group 2: Acquisition and Business Operations - The acquiring party, Zhonghao Xinying, has confirmed that it has initiated the process for an independent IPO and is currently in the shareholding reform stage [1] - There are no plans for significant changes to the main business operations of Tianpu Co., Ltd. in the next 12 months, nor any plans for asset sales, mergers, or major restructuring [1][2] - The main products of the company include polymer fluid pipeline systems and sealing system components, primarily used in traditional fuel vehicle manufacturing [2]

Core Viewpoint - The article discusses the recent IPO counseling registrations of four companies in China, highlighting their business focus, previous IPO attempts, and financial performance. Group 1: Company Overview - Zhejiang Pengfulong Technology Co., Ltd. (Pengfulong) has initiated its third attempt at an IPO after two previous unsuccessful attempts. The company focuses on special polymers and related applications, with a registered capital of 50.32 billion CNY [4][3]. - Hangzhou Zhongxin Wafer Semiconductor Co., Ltd. (Zhongxin Wafer) has shifted its IPO application from the Sci-Tech Innovation Board to the Beijing Stock Exchange after failing to list in 2022. The company reported a revenue of 13.5 billion CNY in 2024, with a 7% year-on-year growth, but has not yet achieved profitability [7][11]. - Shanxi Tengmao Technology Co., Ltd. (Tengmao Technology) is reapplying for an IPO on the Beijing Stock Exchange after previously withdrawing its application. The company specializes in refining catalysts and has shown strong revenue growth [14][15]. - Frank Technology (Shenzhen) Co., Ltd. (Frank) is preparing for an IPO on the Beijing Stock Exchange, reporting a net profit of 38.35 million CNY in the first half of 2025, marking a 99.3% year-on-year increase [17][18]. Group 2: Financial Performance - Pengfulong's revenue from 2019 to 2022 showed a steady increase, with figures of 2.31 billion CNY, 2.73 billion CNY, 3.41 billion CNY, and 1.23 billion CNY respectively, while net profits were 20.06 million CNY, 66.14 million CNY, 70.82 million CNY, and 29.35 million CNY [5]. - Zhongxin Wafer reported revenues of 13.35 billion CNY and 12.6 billion CNY for 2023 and 2024, respectively, with significant losses of 9.31 billion CNY and 7.29 billion CNY [11]. - Tengmao Technology achieved a revenue of 2.47 billion CNY in 2024, with a net profit of 52.97 million CNY. In the first half of 2025, the company reported a revenue of 1.41 billion CNY, a 40.22% increase year-on-year, and a net profit of 33.70 million CNY, up 48.76% [15]. - Frank's financials indicate a revenue of 840.3 million CNY in 2024 and a net profit of 52.82 million CNY, with a revenue of 446.7 million CNY in the first half of 2025, reflecting a 14.49% year-on-year growth [18].