Company Overview - Huike Co., Ltd. is a technology company focused on the semiconductor display field, primarily engaged in the research and manufacturing of semiconductor display panels and smart display terminals. The company's existing technologies include a-Si TFT-LCD, Oxide TFT, Oxide RGB OLED, Oxide LCD, and Mini LED [4]. IPO Status - On September 30, Huike's IPO process was suspended due to the expiration of financial documents submitted in the application. The company needs to submit supplementary documents to resume the IPO process [2]. - The IPO was initially accepted by the Shenzhen Stock Exchange in June, with a planned fundraising amount of 8.5 billion yuan for various projects, including the upgrade of new OLED research and development in Changsha, the industrialization of Oxide technology, and the construction of Mini LED smart manufacturing projects [4]. - The suspension is categorized as a procedural halt rather than a substantive rejection, meaning that as long as the company submits the required documents in a timely manner, the IPO process can resume seamlessly [4]. Industry Insights - The LED display market is facing both opportunities and challenges, as highlighted in the upcoming TrendForce Display Industry Seminar scheduled for October 30, 2025. The seminar will cover various topics related to Micro LED commercialization, innovative display technologies, and the current state and future prospects of the LED industry [5][8].

Core Viewpoint - Huike Co., Ltd.'s IPO status has been changed to "suspended" due to the expiration of financial data in the prospectus, requiring supplementary submission [1][3]. Company Overview - Huike specializes in the research, manufacturing, and sales of semiconductor display panels and smart display terminals [3]. - The company previously submitted an application for an IPO on the ChiNext board in June 2022 but withdrew it in August 2023 [3]. IPO Timeline - In 2024, Huike plans to restart its listing guidance, and on June 30, 2025, it submitted its prospectus to the Shenzhen Stock Exchange, which was accepted [3]. - The IPO entered the inquiry stage on July 11, 2025, but was suspended again due to the need for updated financial data as per the China Securities Association's inspection list [3]. Fundraising Plans - Huike aims to raise 8.5 billion yuan, with key investments allocated as follows: - 5.5 billion yuan for the upgrade of OLED and Oxide display technology in Changsha - 2 billion yuan for the Mini-LED smart manufacturing project in Mianyang - 1 billion yuan for working capital and debt repayment [3][5]. - The Mini-LED project will enhance the production line for Mini LED products and focus on high-performance product development [3]. Investment Project Details - The total investment for the projects is approximately 95.76 billion yuan, with the following breakdown: - Changsha New OLED R&D Upgrade Project: 303.11 million yuan (250 million yuan from raised funds) - Changsha Oxide R&D and Industrialization Project: 300.01 million yuan (300 million yuan from raised funds) - Mianyang Mini-LED Smart Manufacturing Project: 254.46 million yuan (200 million yuan from raised funds) - Working capital and bank loan repayment: 100 million yuan (100 million yuan from raised funds) [5]. - Successful implementation of these projects is expected to expand the market for existing products and facilitate the development of new technologies and products, enhancing the company's core competitiveness [5].

IPO Pipeline Overview - As of October 12, there are 277 companies in the IPO pipeline, with 20 on the Shanghai Main Board, 38 on the Sci-Tech Innovation Board, 22 on the Shenzhen Main Board, 28 on the Growth Enterprise Market, and 169 on the Beijing Stock Exchange [2][3]. New Listings - During the period from October 9 to October 12, Aomisen Intelligent Equipment Co., Ltd. was listed on the Beijing Stock Exchange with the stock code 920080. The company specializes in intelligent manufacturing equipment and reported a closing price of 37.11 yuan per share, reflecting a 349.82% increase and a trading volume of 668 million yuan with a turnover rate of 79.79% on the first day of trading [4][5]. New Counseling Registrations - Four new companies have registered for counseling during the period: - Zhejiang Pengfulong Technology Co., Ltd., focusing on high-performance polymers and their derivatives - Shanxi Tengmao Technology Co., Ltd., specializing in catalytic cracking catalysts and molecular sieves - Hangzhou Zhongxin Wafer Semiconductor Co., Ltd., engaged in semiconductor silicon wafer production - Frank Technology (Shenzhen) Co., Ltd., involved in metal processing fluids and lubricants [6][7][13]. CSRC Registration Approvals - Three companies received registration approvals from the CSRC between October 9 and October 12: - Suzhou Xinguangyi Electronics Co., Ltd., known for high-performance specialty functional materials - Shanghai Yufan Environmental Technology Co., Ltd., focusing on drainage network system diagnostics and maintenance - Zhuhai Nante Metal Technology Co., Ltd., specializing in precision mechanical components [9][10][11]. No Termination of IPOs - There were no companies that terminated or withdrew their IPO applications during the specified period [12][14].

Core Viewpoint - Xiamen Youxun Chip Co., Ltd. is set to undergo a second review for its IPO on the Sci-Tech Innovation Board on October 15, 2025, after a previous postponement in September 2025 [2] Company Overview - Youxun Chip is recognized as a "national manufacturing single champion enterprise" in the optical communication sector, focusing on the research, design, and sales of optical communication front-end transceiver chips [2] IPO Details - The IPO application was accepted on June 26, 2025, and has undergone two rounds of inquiries [2] - The initial review in September 2025 resulted in a "postponed review" decision [2] - The planned fundraising amount has been reduced from 889 million yuan to 809 million yuan following the cancellation of a project aimed at supplementing working capital, which was originally set to raise 80 million yuan [5][6] Financial Performance - As of June 30, 2025, total assets amounted to 8.449 billion yuan, with equity attributable to shareholders at 7.815 billion yuan [6] - The company reported revenues of 339 million yuan in 2022, 313 million yuan in 2023, 411 million yuan in 2024, and 238 million yuan in the first half of 2025 [6] - Net profits for the same periods were 81.4 million yuan, 72.1 million yuan, 77.9 million yuan, and 46.9 million yuan respectively [6] Shareholding Structure - The shareholding of Youxun Chip is relatively dispersed, with no single shareholder holding more than 30% of voting rights, indicating the absence of a controlling shareholder [7] - The actual controllers, Ke Binglan and Ke Tenglong, collectively hold 27.13% of the voting rights, having taken control in November 2022 after a decade without a controlling shareholder [7]

Core Viewpoint - The Hong Kong sportswear sector has shown remarkable performance this year, with companies like 361 Degrees and Anta experiencing significant stock price increases. Recently, Tambor Group has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, indicating a favorable market timing for its entry [2]. Company Overview - Tambor, established in 2004 in Shandong, China, specializes in outdoor sports apparel, offering three main product lines: top outdoor series, sports outdoor series, and urban light outdoor series, catering to various activities and environments [3]. - As of June 2023, Tambor holds a market share of 1.54% in China's professional outdoor apparel market, ranking fourth among local brands and seventh overall when including international brands [5]. Financial Performance - Tambor's revenue has shown a strong upward trend, with figures of RMB 732.4 million in 2022, RMB 1.02 billion in 2023, and projected RMB 1.3 billion in 2024. The net profit for the same periods was approximately RMB 85.8 million, RMB 139.2 million, and RMB 107.3 million, respectively [6][7]. - The company has significantly increased its online sales, with self-operated online stores becoming the main revenue driver, growing from 20.3% of total revenue in 2022 to 43.5% in the first half of 2025 [8]. Marketing and Sales Strategy - Tambor has heavily invested in marketing, with sales and marketing expenses exceeding RMB 260 million in the first half of 2025, accounting for nearly 40% of revenue. This aggressive spending has impacted profit margins, with net profit margin dropping from 13.6% in 2023 to 5.5% in the first half of 2025 [10]. - The company has also increased its inventory levels significantly, with stock reaching RMB 1.103 billion by August 2025, leading to a high inventory turnover period of 485.4 days [10][12]. Dividend Policy and Financial Health - Tambor has engaged in substantial dividend payouts, distributing RMB 350 million in 2022 and RMB 2.9 billion in 2025, which raises concerns about financial sustainability given the high inventory and increased bank borrowings [13][15]. - The company's debt levels have risen, with short-term and long-term bank borrowings amounting to RMB 2.18 billion and RMB 890 million, respectively, while cash reserves were only RMB 26 million as of June 2025 [13][14].

冲刺港股 IPO 的巴奴国际，其上市进程正遭遇监管层的关键问询。 继今年 6 月中旬向港交所递交招股书后，证监会近期已就其股权架构、社保合规性、分红合理性等九大核心问题展开追问，将这家 "毛肚火锅品类开创 者" 的经营隐忧推向台前。 数据显示，截至 2025 年 3 月末，巴奴虽拥有 1789 名全职员工，却依赖 3168 名兼职员工与 6124 名外包员工构成的近万非正式用工团队支撑运营，且 2022 年至 2025 年前 3 月累计欠缴社保及住房公积金达 360 万元。 更引人争议的是，在社保欠缴与现金流逐年减少（2022-2024 年末现金及等价物从 3.32 亿元降至 2.23 亿元）的背景下，巴奴竟在 IPO 前 5 个月向股东派 息 7000 万元，控股股东杜中兵家族分得超 5800 万元。 "用工合规短板" 与 "上市前大额分红" 的反差，叠加实际控制人认定等股权问题，让其 IPO 前景蒙上一层迷雾。 （5）美味森林收购巴奴毛肚火锅、今每供应链收购河南今每对价、定价依据、对价支付及所得税纳税情况，以及外商投资、税务等监管程序合法合规的 结论性意见； （6）未认定韩艳丽为共同实际控制人的原因及合理 ...

Looks like Diwali is kicking off early for investors and bankers as two of India’s biggest IPOs of the year, Tata Capital and LG India, are set to make their trading debuts. Read for free with your email on what could move markets today https://t.co/jK04jqZArw ...

尽管上纬新材已经多次重申，市场对上纬新材和智元的想象似乎没那么容易停止。 上纬新材自9月26日开始起停牌核查，截至10月10日收盘，已停牌5个交易日。在本轮股票交易停牌核查结果的公告中，上纬新材明确表示，未来36个月内， 智元创新不存在通过上市公司"借壳上市"的计划或安排。 同时，上纬新材披露，公司已经在9月24日收到智元恒岳就本次要约收购事宜出具的《上纬新材料科技股份有限公司要约收购报告书》，要约收购价格、拟 要约收购股数等相关内容均无变化。在公司基本面上，上纬新材重申目前公司基本面未发生重大变化，主营业务未发生重大变化，生产经营未发生重大变 化，市场环境或行业政策未发生重大调整。 根据公告中披露的情况，2025年7月9日-2025年9月26日期间，公司股票交易8次触及股票交易异常波动情形，7次触及股票交易严重异常波动情形，公司已累 计发布16次异常波动、严重异常波动、交易风险提示公告，提示股票交易风险。 在本次停牌核查前的一个交易日中，上纬新材再次涨停，收盘报价132.1元/股。万得数据显示，年初至今，上纬新材已经上涨1493.28%。 10月13日，上纬新材（688585.SH）复盘，开盘20cm跌停。 ...

瑞财经 李兰10月13日，据上交所、深交所、北交所，本周3家企业上会，5只新股将进行申购。 上周新股首日涨3.5倍，本周5股申购 回顾上周（10月6日-10月12日），A股迎来了1只"新成员"。在首日表现中，北交所新股奥美森截至收盘大涨349.82%。 本周3家上会，尚未盈利企业昂瑞威冲刺科创板 据悉，本周（10月13日-17日）共3家企业上会，其中包括优迅股份、昂瑞威（科创板）；天溯计量（创业板）。 | 序号 | 企业名称 | 版块 | 上会日期 | | --- | --- | --- | --- | | 1 | 深圳天溯计量检测股份有限公司 | 深交所创业板 | 2025-10-16 | | 2 | 厦门优迅芯片股份有限公司 | 上交所科创板 | 2025-10-15 | | 3 | 北京昂瑞微电子技术股份有限公司 | 上交所科创板 | 2025-10-15 | 其中，昂瑞威成立于2012年，是一家专注于射频前端芯片、射频SoC芯片的集成电路设计企业。上交所官网显示，昂瑞微的IPO申请于今年3月28日获受理。 值得注意的是，其是今年科创板首家获得受理的未盈利申报企业。 2022—2024年，昂瑞微的营收分 ...

湖北龙辰科技第二次闯关北交所。 早在2022年12月，龙辰科技的IPO申请就获得了北交所受理。 来源：北交所官网 2023年，龙辰科技两次上会先后遭遇"暂缓审议"、"未通过"，同年终止审核。 彼时的核心痛点在于，公司与江苏双凯电子有限公司（简称"江苏双凯"）之间关联交易的合理性。 为扫清障碍，龙辰科技在2024年以4500万元收购江苏双凯剩余股权，并于年底重启上市计划。 2025年6月，公司IPO申请再获北交所受理，目前处于"已问询"阶段。不过，公司仍面临净利润波动大、 毛利率持续下滑、行业产能过剩等风险。 二度闯关北交所，龙辰科技这次能顺利上岸吗？ 项目介绍： 公司简称：龙辰科技 公司全称：湖北龙辰科技股份有限公司 IPO进展：一询未回复 成立时间：2003年11月6日 控股股东：林美云为控股股东、实际控制人，合计控制54.08%股权。 主营业务：薄膜电容器相关BOPP薄膜材料的研发、生产和销售，产品主要分为基膜、金属化膜两大 类。 行业地位：公司为高新技术企业，2021年被认定为国家级专精特新"小巨人"企业、湖北省专精特新"小 巨人"企业、湖北省支柱产业细分领域隐形冠军培育企业。根据中国合成树脂协会高功能 ...