Core Viewpoint - The company, Southern Power Grid Digital Research Institute Co., Ltd., is set to list its ordinary shares on the Shenzhen Stock Exchange's ChiNext board on November 18, 2025, following approval from the Shenzhen Stock Exchange [1] Summary by Sections Listing Overview - Stock abbreviation: Southern Power Digital - Stock code: 301638 - Total share capital after the initial public offering (IPO): 3,179.650230 million shares - Number of shares offered in the IPO: 476.947534 million shares, all new shares with no existing shares being transferred [4] Pricing and Valuation - The offering price is set at 5.69 yuan per share - The diluted price-to-earnings (P/E) ratio based on the 2024 net profit attributable to the parent company, excluding non-recurring gains and losses, is 32.22 times, which is significantly lower than the industry average P/E ratio of 71.22 times as of November 4, 2025 [2][4] Industry Context - The company operates in the software and information technology services industry (I65) - The average static P/E ratio for the software and information technology services industry was reported at 71.22 times as of November 4, 2025 [2]

南方电网数字电网研究院股份有限公司 首次公开发行股票并在创业板上市之 上市公告书提示性公告 保荐人（主承销商）：招商证券股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 经深圳证券交易所审核同意，南方电网数字电网研究院股份有限公司（以下 简称"公司"、"本公司"、"发行人"或"南网数字"）发行的人民币普通股股票将于 2025 年 11 月 18 日在深圳证券交易所创业板上市，上市公告书全文和首次公开 发行股票并在创业板上市招股说明书全文披露于中国证券监督管理委员会指定 信息披露网站：巨潮资讯网（www.cninfo.com.cn）、中证网（www.cs.com.cn）、 中国证券网（www.cnstock.com）、证券时报网（www.stcn.com）、证券日报网 （ www.zqrb.cn ） 、 经 济 参 考 网 （ www.jjckb.cn ） 、 中 国 金 融 新 闻 网 （www.financialnews.com.cn）、中国日报网（www.chinadaily.com.cn），供投资 者查阅。 所属网页二维码：巨潮资讯网 一、上 ...

Core Viewpoint - The company is set to issue 47,694,753.34 shares of A-shares, representing approximately 15% of the total share capital post-issuance, through a combination of strategic placement and public offering methods [1]. Summary by Sections Issuance Details - The issuance will consist of 47,694,753.34 shares of RMB ordinary shares (A-shares) with a par value of RMB 1.00 [1]. - The issuance method includes strategic placement to qualified investors and a public offering to the general public [1]. - The issuance date is scheduled for November 7, 2025, with specific arrangements detailed in the preliminary pricing and promotion announcement [1]. Investor Eligibility - Qualified investors for the strategic placement include institutional investors and individuals who have opened trading accounts in accordance with relevant regulations [1]. - For offline investors, the proposed subscription amount must not exceed the lower of total assets on the fifth trading day before the inquiry date or the total assets at the time of inquiry [2][3]. Pricing and Allocation - The pricing will be determined based on the median and weighted average of bids after excluding the highest bids, with a maximum bid exclusion ratio of 3% [3][4]. - The final pricing and allocation will consider various factors, including market conditions and the company's funding needs [4][5]. Lock-up Periods - For offline investors, 10% of the allocated shares will have a lock-up period of 6 months, while 90% will be tradable immediately upon listing [7]. - Strategic placement investors will have a lock-up period of no less than 18 months [7]. Market Value Requirements - Offline investors must meet a minimum average market value of RMB 10 million for specific funds and RMB 60 million for other investors over the 20 trading days prior to the inquiry date [8]. - Online investors must hold at least RMB 10,000 in non-restricted A-shares to participate in the subscription [9][10]. Subscription Process - Investors must express their subscription intentions independently and cannot delegate this to securities firms [10]. - A mechanism for adjusting the allocation between offline and online subscriptions will be implemented based on demand [10]. Payment Obligations - Offline investors are required to pay for their allocated shares by November 11, 2025, and must ensure sufficient funds in their accounts [11][12]. - Any shares not subscribed due to forfeiture will be underwritten by the lead underwriter [12]. Compliance and Legal Obligations - Investors who fail to comply with the subscription requirements may face penalties, including being barred from future offerings [13][14].

云汉芯城（上海）互联网科技股份有限公司 首次公开发行股票并在创业板上市 之上市公告书提示性公告 保荐人（主承销商）：国金证券股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 经深圳证券交易所审核同意，云汉芯城（上海）互联网科技股份有限公司（以 下简称"云汉芯城"、"发行人"或"本公司"）发行的人民币普通股股票将于 2025 年 9 月 30 日在深圳证券交易所创业板上市，上市公告书全文和首次公开发 行股票的招股说明书全文披露于中国证券监督管理委员会指定网站（巨潮资讯网， 网址 www.cninfo.com.cn；中证网，网址 www.cs.com.cn；中国证券网，网址 www.cnstock.com；证券时报网，网址 www.stcn.com；证券日报网，网址 www.zqrb.cn；经济参考网，网址 www.jjckb.cn；中国金融新闻网，网址 www.financialnews.com.cn；中国日报网，网址 www.chinadaily.com.cn），并置 备于发行人、深圳证券交易所、本次发行保荐人（主承销商）国金证券股份有限 公司的住 ...

Core Viewpoint - King Leaf International Group Limited is undergoing a listing hearing on the Hong Kong Stock Exchange's Growth Enterprise Market, with Sun Hung Kai Financial as its exclusive sponsor [1] Company Overview - King Leaf International is an established contractor in the electromechanical engineering sector, with a history dating back to 2006. The company specializes in the supply, installation, maintenance, and repair of heating, ventilation, and air conditioning systems, electrical installation systems, and water supply systems [3] - The company primarily serves private projects, with revenue from private projects accounting for approximately 97.7% and 98.2% of total revenue for the fiscal years 2023/24 and 2024/25, respectively [3] - King Leaf International has mainly provided services to existing commercial properties in Hong Kong, managed by several large property management companies [3] Project and Contract Types - The company undertakes various types of contracts, including fixed-price contracts, maintenance contracts, and regular contracts with pre-agreed rate tables. For the fiscal years 2023/24 and 2024/25, the company has taken on over 1,000 projects, with most contributing less than 500,000 HKD each [4] - As of July 31, 2025, the company has 187 projects on hand, with an uncompleted order value of approximately 62.8 million HKD [4] Financial Performance - For the fiscal years 2023/24 and 2024/25, the company's projected revenues are approximately 123.01 million HKD and 154.53 million HKD, respectively. The corresponding net profits are expected to be around 10.37 million HKD and 14.07 million HKD [5]

Summary of Key Points Core Viewpoint - Shanghai Jianda Zhixin Medical Technology Group Co., Ltd. is set to list its ordinary shares on the Shenzhen Stock Exchange's ChiNext board on September 25, 2025, following approval from the Shenzhen Stock Exchange [1]. Company Overview - Stock Name: Jianda Zhixin - Stock Code: 301584 - Total Shares Post-IPO: 421,288,509 shares - Number of New Shares Issued: 63,193,277 shares, with no existing shares being transferred [5]. Industry Context - The company belongs to the "F51 Wholesale Industry" as per the classification by the China Association of Listed Companies [3]. - As of September 10, 2025, the average static P/E ratio for the "F51 Wholesale Industry" was 25.73 times [3]. Financial Metrics - The IPO price is set at 7.05 RMB per share, which corresponds to a diluted P/E ratio of 13.29 times based on the lower of the 2024 net profit attributable to the parent company, excluding non-recurring gains and losses [3]. - This P/E ratio is lower than the industry average of 25.73 times but higher than the average P/E ratio of comparable listed companies, which is 11.27 times, indicating a premium of approximately 17.92% [3]. Market Risks - The ChiNext board is characterized by higher investment risks, including unstable performance, operational risks, and a greater likelihood of delisting [3]. - Investors are advised to be aware of the potential for stock price declines and to assess the reasonableness of the IPO pricing carefully [3].

苏州汇川联合动力系统股份有限公司 首次公开发行股票并在创业板上市之 上市公告书提示性公告 保荐人（主承销商）：国泰海通证券股份有限公司 一、上市概况 4、首次公开发行股票数量：28,857.4910万股，占发行后公司总股本的比例 为12.00%，本次公开发行全部为新股，无老股转让。 1 1、股票简称：联合动力 2、股票代码：301656 3、首次公开发行后总股本：240,479.0910万股 二、风险提示 本公司股票将在深圳证券交易所创业板市场上市，该市场具有较高的投资风 险。创业板公司具有业绩不稳定、经营风险高、退市风险大等特点，投资者面临 较大的市场风险。投资者应充分了解创业板市场的投资风险及本公司所披露的风 险因素，审慎做出投资决定。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 经深圳证券交易所审核同意，苏州汇川联合动力系统股份有限公司（以下简 称"发行人"或"本公司"）发行的人民币普通股股票将于2025年9月25日在深 圳证券交易所创业板上市，上市公告书全文和首次公开发行股票并在创业板上市 的招股说明书全文披露于中国证券监督管理委员会指定的信息披露 ...

Core Viewpoint - Yunhan Chip City (Shanghai) Internet Technology Co., Ltd. is preparing for its initial public offering (IPO) and listing on the ChiNext board, following various regulatory guidelines and rules set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange [1][2]. Group 1: Issuance Process - The issuance will be conducted through a combination of strategic placement, offline inquiry placement, and online issuance to public investors holding non-restricted A-shares and non-restricted depositary receipts [2][3]. - The strategic placement will involve the company's senior management and core employees participating through a special asset management plan, along with potential investments from the sponsor's related subsidiaries [3][4]. - The pricing for the offline issuance will be determined directly through preliminary inquiries, eliminating the need for cumulative bidding [4]. Group 2: Investor Participation - Investors are encouraged to pay close attention to the issuance methods, processes, and mechanisms for subscription and payment, as well as the handling of abandoned shares [2][3]. - The total number of shares allocated to strategic placement investors, subscription amounts, and holding periods will be disclosed in the issuance announcement [4].

Core Viewpoint - Yunhan Chip City (Shanghai) Internet Technology Co., Ltd. is preparing for its initial public offering (IPO) and listing on the ChiNext board, following the regulations set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange [1][2]. Group 1: Issuance Process - The issuance will be conducted through a combination of strategic placement, offline inquiry placement, and online issuance to public investors holding non-restricted A-shares and depository receipts [2][3]. - The strategic placement will involve the company's senior management and core employees participating through a special asset management plan, along with potential investments from subsidiaries of the sponsor [3][4]. - The pricing for the offline issuance will be determined directly through preliminary inquiries, eliminating the need for cumulative bidding [5]. Group 2: Investor Participation - The offline issuance targets qualified investors as defined by the relevant regulations, ensuring compliance with the guidelines set forth by the China Securities Association [5]. - The total number of shares allocated to strategic placement investors, subscription amounts, and their proportion of the total issuance will be disclosed in the official issuance announcement [4].

Core Points - The company, Suzhou Huichuan United Power System Co., Ltd., has received approval for its initial public offering (IPO) of 288.574910 million shares on the ChiNext board, with the registration approved by the China Securities Regulatory Commission [1] - The IPO will utilize a combination of strategic placement, offline issuance to qualified investors, and online issuance to the public, with the offline pricing determined through initial inquiries [1][2] - After the IPO, the total share capital of the company will be 2,404.790910 million shares, with the public offering accounting for 12% of the total [1] Strategic Placement - The initial strategic placement will consist of 86.572473 million shares, representing 30% of the total issuance [2] - The underwriter's related subsidiaries will participate with an initial investment of 3% of the total issuance, equating to 8.657247 million shares [2] - Senior management and core employees are expected to subscribe up to 10% of the total issuance, which is 28.857491 million shares, with a maximum investment of 240 million yuan [2] Issuance Details - Before the activation of the placement mechanism, the initial offline issuance quantity is set at 161.602437 million shares, approximately 80% of the remaining issuance after strategic placement [3] - The initial online issuance quantity is 40.400000 million shares, accounting for 20% of the remaining issuance [3] - The final numbers for offline and online issuance will be confirmed based on the strategic placement results and will be published in a preliminary allocation results announcement on September 17, 2025 [3] Investor Engagement - The company and the underwriter will hold an online roadshow to provide potential investors with information about the company and the IPO process [3] - The roadshow is scheduled for September 12, 2025, from 14:00 to 17:00 [6]