源杰科技(688498.SH)公告，公司董事会审议通过了《关于授权公司管理层启动公司境外发行股份(H股) 并在香港联合交易所有限公司上市相关筹备工作的议案》。公司拟在境外发行股份(H股)并在中国香港 联合交易所有限公司上市。 ...

据港交所文件，11月18日，乐摩科技服务股份有限公司通过港交所上市聆讯，联席保荐人为中信建投国 际、申万宏源香港。 ...

（文章来源：第一财经） 据外媒报道，MANNER COFFEE据悉考虑最早2026年在香港上市。 ...

中国经济网北京11月18日讯 北矿检测技术股份有限公司（证券简称：北矿检测，证券代码：920160） 今日在北京证券交易所上市。截至今日收盘，北矿检测报26.50元，涨幅295.52%，成交额6.60亿元，振 幅83.58%，换手率88.46%，总市值30.02亿元。 北矿检测是有色金属检验检测服务机构之一，专业从事有色金属矿产资源检验检测技术研发、技术服务 及仪器研发，业务涵盖矿石及矿产品、冶炼产品、环境样品、再生资源、先进材料、选冶药剂检验检 测，检验检测技术研发及标准化、技术推广、高端分析仪器研发等领域。 本次发行前，矿冶科技集团有限公司（以下简称"矿冶集团"）直接持有北矿检测86.11%股份，通过北京 矿冶研究总院有限公司（以下简称"矿冶总院"）间接持有北矿检测1.53%股份，合计持有北矿检测 87.64%股份，为北矿检测控股股东。 国务院国有资产监督管理委员会持有矿冶集团100%的股份，为北矿检测实际控制人。 本次发行后，北矿检测控股股东仍为矿冶集团，矿冶集团直接持有北矿检测64.58%股份，通过矿冶总 院间接持有北矿检测1.15%股份，合计持有北矿检测65.73%股份。 北矿检测于2025年7月1 ...

Core Viewpoint - The article discusses the reasons behind the failure of many companies to go public, highlighting the importance of avoiding conflicts of interest and compliance with regulations regarding related party transactions, industry competition, and executive roles. Group 1: Industry Competition (Red Line) - Companies applying for an IPO must not engage in the same business as their controlling shareholders or related entities, even if those entities are shell companies [2][3] - An example is provided with Changyou Technology, which faced delays in its IPO due to the need to deregister a shell company that was involved in similar business activities [4] - Companies are advised to promptly deregister non-operational shell companies and address any industry competition issues to avoid future IPO complications [5] Group 2: Related Party Transactions (Yellow Line) - Related party transactions are not prohibited but must meet two criteria: fair pricing and compliance with corporate governance procedures [6][9] - An example is given of Meiai Technology, which faced scrutiny over its pricing in transactions with a related company, Tianjia Environment, leading to multiple rounds of inquiries before successfully listing [8] - Companies must ensure that related party transactions are approved by the board or shareholders to avoid regulatory issues [10] Group 3: Executive Roles and Part-time Positions (White Line) - Controlling shareholders can hold positions in other companies as long as they are not in executive roles that could compromise independence [11][12] - High-level executives are also restricted from holding positions in the controlling shareholder's other companies to protect the interests of the listed company [13][14]

Group 1 - Luckin Coffee is actively working towards relisting on the US main board, which is seen as a significant event with international influence [1][7] - The company has not set a specific timeline for the relisting, focusing instead on executing its business strategy and development [2] - Luckin Coffee's past included a successful IPO on NASDAQ in May 2019, followed by a financial scandal that led to its delisting in June 2020 [3][4] Group 2 - The company has undergone significant changes, including a complete exit of the original shareholders and management team, and the establishment of a new management team under Dazhong Capital [5] - Luckin Coffee reported a revenue increase of 47.1% year-on-year to 12.36 billion yuan and a net profit increase of 43.6% to 1.25 billion yuan in the second quarter [5][6] - The total number of Luckin Coffee stores reached 26,206, with ongoing expansion into overseas markets [5] Group 3 - The company's performance indicates that a relisting on the main board would attract market interest [6] - Luckin Coffee's association with Xiamen highlights its confidence in returning to the US main board [7]

Group 1 - The core point of the article emphasizes that having good performance alone is not sufficient for a company to go public; holding 30% of shares is a critical threshold that can significantly impact the listing process [10][11] - The case of Xin Yan Industrial illustrates that the major shareholder held 32% of shares, leading to a failed listing attempt on the ChiNext board despite meeting profit requirements [9][4] - The article discusses the importance of actual control recognition and the implications of shareholding structures on the listing process, highlighting that the major shareholder's control must be clearly defined [11][20] Group 2 - The case of Company A shows that the major shareholder held 34% of shares and faced three failed listing attempts due to issues related to share transfer pricing and actual control recognition [12][22] - The article points out that the low share transfer price raised suspicions of shareholding arrangements, which complicated the listing process [15][16] - The failure of Company A's listing attempts underscores the necessity of clear ownership and control structures to meet regulatory requirements [20][22] Group 3 - The case of Su Da Co., which initially failed its first listing attempt with a major shareholder holding 30%, demonstrates the impact of actual control and related party transactions on the listing process [29][58] - The company faced challenges due to potential conflicts of interest and competition with its major shareholder, which were critical factors in the rejection of its listing application [50][56] - After making necessary adjustments, Su Da Co. successfully listed on the main board, indicating that addressing regulatory concerns can lead to successful outcomes [58]

Core Viewpoint - There are speculations that SK Hynix may sell its U.S. subsidiary Solidigm, with insiders suggesting that selling could be the best option for the company [2][3]. Group 1: Company Background - Solidigm was established in 2021 by SK Hynix to acquire Intel's NAND flash memory business, focusing on the planning, design, and sales of NAND flash-based solid-state drives (SSDs) [2]. - The acquisition of Intel's NAND and SSD business was completed in two phases, with a total transaction value of approximately $9 billion, including the establishment of Solidigm to operate the acquired business [2]. Group 2: Challenges and IPO Plans - SK Hynix initially aimed to integrate production and sales within Solidigm and planned for an IPO in the U.S., but regulatory challenges regarding the Chinese subsidiary complicated this plan [3]. - As a result, Solidigm currently operates primarily as a sales-focused entity without production capabilities, which diminishes its attractiveness for an IPO [3]. - Despite these challenges, some industry insiders believe that Solidigm could still pursue a listing on NASDAQ if its performance improves significantly over the coming quarters [4].

Core Viewpoint - OpenAI CEO Sam Altman denied reports about the company's plans to go public next year, stating that there are no specific plans or arrangements in place for an IPO [1] Summary by Relevant Sections - **Company Plans** - Altman emphasized that while he believes an IPO will eventually happen, there are currently no specific dates or board resolutions regarding this matter [1] - **Industry Context** - The discussion reflects the broader trend in the tech industry where companies are often speculated to go public, but concrete plans may not be in place [1]

Core Viewpoint - OpenAI CEO Sam Altman denied reports about the company planning to go public next year, stating that there is no specific date for an IPO and the board has not made any decisions regarding it. He believes that the company will eventually move in that direction [1] Financial Performance - OpenAI's annual revenue significantly exceeds the rumored $13 billion [1]