Group 1 - The local government is enhancing financial support for listed backup enterprises to assist more quality technology companies in going public [1][3] - Zhang Yanming and his team visited several companies, including Qixing Welding, Chengde Energy, Huazheng Radiator, and Zhiwei Biotechnology, to understand their operations and encourage innovation and business expansion [3] - The government aims to improve mechanisms for communication between government, finance, and enterprises to better understand their needs and support their growth [3][4] Group 2 - The financial work joint meeting office will implement provincial and municipal requirements to strengthen financial services and support for quality listed backup enterprises [4] - The focus is on high-quality financial supply to ensure the economic and social development of Xinxiang City [4]

Core Viewpoint - The recent news highlights SHEIN's strategy of transferring revenue from its UK subsidiary to Singapore to minimize tax liabilities, raising concerns about tax fairness and compliance [1][3]. Group 1: Financial Performance and Taxation - SHEIN's UK subsidiary reported sales of £2 billion in the last year but only paid £9.6 million in corporate tax, prompting public scrutiny regarding the actual profit reported in the UK versus that reported in Singapore [3]. - A significant portion of the sales, over £1.72 billion (approximately ¥16.6 billion), was classified as procurement costs transferred to the Singapore headquarters, resulting in minimal taxable income in the UK [3]. - In contrast, SHEIN's Singapore operations benefited from a low tax rate of 5% under Singapore's "Development and Expansion Incentive Scheme," leading to a total tax payment of nearly ¥2 billion over three years [6][7]. Group 2: IPO and Market Strategy - SHEIN's potential IPO in Hong Kong is seen as a strategic move, with the company aiming to present better financial performance by consolidating UK revenue under its Singapore headquarters [5]. - If SHEIN successfully lists in Hong Kong, it could become the largest IPO in the market this year, with an estimated market valuation approaching HK$400 billion, significantly exceeding previous major listings [5]. - The timing for SHEIN's IPO is favorable, as the Hong Kong market has seen substantial fundraising activity, making it an opportune moment for the company to enter [5]. Group 3: Headquarters Relocation and Regulatory Considerations - There are indications that SHEIN may consider relocating its headquarters back to China to facilitate its Hong Kong IPO, which could enhance its chances of receiving regulatory approval [6]. - However, the company faces challenges in this potential relocation, particularly regarding the Singapore government's support, which has been crucial for SHEIN's operations in recent years [6][7]. - The outcome of SHEIN's headquarters relocation and its implications for the IPO remain uncertain, as the company has not disclosed specific plans regarding this move [7].

Core Viewpoint - Wuhu Jiahong New Materials Co., Ltd. (referred to as "Jiahong New Materials") has completed its guidance report for its initial public offering (IPO) and plans to list on the Beijing Stock Exchange, with Dongwu Securities as the advisory institution [1]. Company Overview - Jiahong New Materials was established in 2002 and has focused on the research, production, and sales of electric heating products, including self-regulating heating cables, constant power heating cables, temperature controllers, accessories, and electric heating system engineering [1]. Financial Performance - In the first half of 2025, Jiahong New Materials achieved operating revenue of 172 million yuan, a year-on-year decrease of 1.84% - The net profit attributable to the parent company was 27.25 million yuan, down 22.82% year-on-year - The decline in net profit is attributed to a decrease in gross profit margin and an increase in period expenses [1]. Management and Control - The controlling shareholder of Jiahong New Materials is Xu Chunan, who directly holds 70.53% of the shares and indirectly controls an additional 4.78%, totaling 75.31% of the voting rights [1]. - Xu Chunan's mother, Wang Jianjun, holds 7.92% of the shares, bringing their combined direct ownership to 78.45% [1]. - Xu Chunan serves as the chairman and general manager of Jiahong New Materials, while Wang Jianjun is a board member, indicating their significant influence in the company's decision-making [2]. Key Personnel Background - Xu Chunan, born in November 1983, has a master's degree from HEC Paris and has held various management positions within the company since 2005, including chairman and general manager since August 2016 [2]. - Wang Jianjun, born in August 1956, has a background in the rubber and cable industry, having held various roles from cashier to factory manager before becoming a board member of Jiahong New Materials [3].

文/新苏商记者张静文 2025年是君乐宝成立30周年，副总裁仲岩曾在2022年表示，在这个关键节点上，要争取完成上市，并且 销售额突破500亿元。 但新苏商关注到，2023年12月，君乐宝正式进入IPO辅导程序。目前程序已进入倒计时，公司仍未递交 招股说明书，上市申请尚未进入证监会受理阶段。 市场普遍预测，这家重仓江苏的企业想在今年完成上市计划，愈发遥不可及。 布局17年 倒计时招股书仍难产 2004年3月，江苏君乐宝乳业有限公司在徐州丰县成立，是君乐宝在淮海经济区的重要布局，集种植、 养殖、加工于一体，主营"君乐宝"牌系列乳制品，涵盖酸奶、纯牛奶、学生奶三大系列二十余种产品， 现拥有两个厂区，日生产能力1200吨。 与实际缓慢的上市步伐不同，君乐宝的上市计划很早就开始布局。 2008年，君乐宝创始人魏立华就曾做好上市准备，但当年爆发的"三聚氰胺事件"，让一切计划戛然而 止。 随后，君乐宝"卖身"蒙牛，直到2019年，君乐宝以当年收购价9倍的价格赎回股权，正式单飞。自此， 君乐宝加快上市布局。当年河北省奶业振兴工作领导小组发布的方案中，就明确要求"支持君乐宝乳业 集团主板上市"。河北省国资委旗下的鹏海基金还斥 ...

Group 1 - Angie Holdings, a corporate uniform supplier based in Hong Kong, submitted an IPO application to the SEC, planning to raise up to $8 million by offering 1.5 million shares at a price range of $4-6 per share [1] - The company, established in 2015, provides corporate uniforms along with design, tailoring, and functional consulting services to a diverse clientele including contractors, utility companies, government departments, and service providers [1] - In addition to its core uniform business, Angie Holdings also sells safety products such as helmets, boots, and gloves, expanding its product line [1] Group 2 - For the 12 months ending June 30, 2025, the company reported revenue of $10 million [1]

Core Viewpoint - Chery Automobile, a major Chinese car manufacturer, is set to launch its IPO after 21 years of attempts, marking a significant milestone in its journey and potentially becoming the largest car IPO in Hong Kong this year [4][12][41]. Group 1: Company Overview - Chery Automobile has reported annual revenues of 270 billion and sales exceeding 2.6 million vehicles, with over 1.14 million vehicles exported [4][13]. - The company has been the top exporter of Chinese passenger cars for 22 consecutive years and is the first Chinese brand to have cumulative exports surpassing 5 million vehicles [6][7]. Group 2: IPO Journey - Chery's IPO journey has been fraught with challenges, including failed attempts due to complex equity relationships and external economic factors, with six previous attempts since 2004 [14][16][17]. - Recent developments indicate that Chery has finally passed the Hong Kong Stock Exchange's listing hearing, signaling a potential breakthrough in its long-awaited IPO [18][41]. Group 3: Market Position and Performance - In 2024, Chery's sales are projected to exceed 2.6 million vehicles, reflecting a year-on-year growth of over 38%, with exports expected to reach 1.14 million vehicles, a 21% increase [36][39]. - Chery has established a strong international presence, exporting vehicles to over 120 countries and regions, with cumulative global sales exceeding 13 million vehicles [26][27]. Group 4: Future Prospects - The successful IPO is anticipated to enhance Chery's financial strength and governance, enabling it to compete more effectively in the global automotive market [41][42]. - With the IPO, Chery aims to solidify its position as a leading global automotive brand, leveraging capital to support its growth and innovation in the electric vehicle sector [42].

Core Viewpoint - The 25th China International Investment and Trade Fair highlighted the importance of corporate listing as a means of value enhancement and capital empowerment for businesses, as articulated by Li Ya, Chairman of Licheng China [1][4][16]. Group 1: Corporate Listing Insights - Listing brings external benefits such as government trust, customer recognition, and brand enhancement, while internally it improves management, attracts talent, and ensures ample funding [4][6]. - Li Ya emphasized that becoming a "valuable company" is more crucial than merely going public, requiring strong future potential, competitive sustainability, and a healthy financial status [6][9]. - The process of listing can be simplified by ensuring compliance and addressing historical issues early, which can facilitate a smoother transition to public status [9][10]. Group 2: Events and Engagements - The "2025 Decoding Corporate Listing Exchange Conference" hosted by Licheng China attracted over 400 participants, including government representatives and major enterprises, focusing on policy interpretation and capital connection [12][14]. - The "2025 Capital and Project Matching Conference" resulted in 53 intended cooperation projects with a total investment intention exceeding 2 billion yuan, showcasing the event's significance [14][15]. Group 3: Long-term Vision and Achievements - Licheng China has assisted over 44 companies in going public and has facilitated financing exceeding 20 billion yuan, establishing itself as a leader in the industry [16][18]. - The company aims to empower more Chinese enterprises through capital, contributing to the modernization of the economy and viewing listing as a starting point for further growth [18].

Group 1 - Aifenda officially listed on the Shenzhen Stock Exchange on September 10, marking a new chapter in its development [1] - Aifenda is a high-tech enterprise specializing in the research, design, production, and sales of HVAC home products, including bathroom towel racks, temperature control valves, heating valves, and magnetic filters [3] - The chairman and general manager of Aifenda, Wu Jianbin, emphasized the company's commitment to leveraging the opportunities presented by its listing to enhance R&D capabilities, improve automation in production, and expand global brand influence for sustainable high-quality development [7] Group 2 - The vice mayor of Shangrao City, Hu Xintian, delivered a speech during the listing ceremony, highlighting the significance of Aifenda's entry into the capital market [5]

责任编辑：何俊熹 9月11日，西贝召开了一场小范围的媒体交流会，西贝创始人贾国龙表示，自己不收藏古董字画，不买 第二套房，不买股票，有钱全部投入到西贝。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 当谈及是否有上市计划时表示，不拒绝，也不设定目标。"做好比做大重要，顾客喜欢我们，员工认可 我们，比什么都重要"。同时，他也表示，罗永浩这次发言是在砸西贝人的饭碗。 ...

Group 1 - Jiangxi Aifenda Heating Technology Co., Ltd. (Aifenda) was listed on the Shenzhen Stock Exchange on September 10, 2023, marking the third company from Jiangxi Province to go public this year [2][10] - Aifenda's stock was issued at a price of 27.69 yuan per share, opening at 83 yuan, a 199.75% increase, and closing at 74.77 yuan, a 170.03% increase, resulting in a total market capitalization exceeding 6.4 billion yuan [4] - The company specializes in the research, design, production, and sales of heating and ventilation products, with a focus on towel racks and heating components, and has invested over 87 million yuan in R&D over the past three years [7][8] Group 2 - Aifenda's revenue is projected to grow from 762 million yuan in 2022 to 1.05 billion yuan in 2024, with a compound annual growth rate of 17.36% [8] - The company raised approximately 600 million yuan from its IPO, which will be used for upgrading production lines and supplementing working capital [8] - Aifenda has established a global presence, exporting products to over 60 countries and regions, with expected export revenue exceeding 1 billion yuan in 2024, reflecting a growth of over 30% [8] Group 3 - The chairman of Aifenda, Wu Jianbin, emphasized the company's commitment to leveraging the capital market to enhance R&D capabilities, improve automation, and expand global brand influence for sustainable high-quality development [9] - Jiangxi Province has seen a steady increase in the number of listed companies, reaching 120 by the end of August 2023, with ongoing efforts to support more companies in going public [10]