Core Viewpoint - Beijing Diseng Digital Entertainment Technology Co., Ltd. (Diseng Digital) is progressing with its listing guidance work on the Beijing Stock Exchange, with the eighth progress report from Huafu Securities highlighting the company's operational management and compliance improvements, while also identifying areas needing further enhancement [1][10]. Group 1: Listing Guidance Progress - The guidance period for Diseng Digital is from October 1, 2025, to December 31, 2025, with Huafu Securities, along with Dahuah Accounting and Junzhi Law Firm, assisting in improving operational management and compliance [1]. - Huafu Securities has completed the share reform during the guidance period, changing its name to Huafu Securities Co., Ltd. on December 17, 2025 [1]. - The internal control system of the company has been preliminarily established and effectively executed, but issues remain in corporate governance, fundraising project determination, profitability, and information disclosure [1][10]. Group 2: Company Overview - Diseng Digital provides content services, technology research and development, and educational services for the domestic and international animation and digital entertainment markets [3]. - The company has developed several products, including the Diseng Network Line Shooting System and the Diseng New Generation Motion Capture System, with its "Diseng MOCO Stop Motion Animation Production System" nominated for a prestigious award [3]. Group 3: Financial Performance - In the first half of 2025, the company reported total revenue of 51.40 million yuan, a year-on-year increase of 170.01%, with a net profit of 20.59 million yuan, up 508.04% [17]. - The total revenue for 2023 and 2024 was 101.06 million yuan and 48.45 million yuan, respectively, showing a growth of 42.21% and a decline of 52.06% [17]. - The company’s weighted average return on equity for the first half of 2025 was 22.86%, with earnings per share of 0.84 yuan [17]. Group 4: Governance and Compliance Issues - The company has not yet appointed independent directors, which is a requirement for compliance with the Beijing Stock Exchange [11][14]. - The fundraising project for the company is still under analysis, and specific investment projects and amounts have not been determined [15][16]. - There is a need for further enhancement of information disclosure practices, with management and relevant personnel required to improve their capabilities in this area [19][20].

Core Viewpoint - The company has terminated its agreement with the underwriting institution for the public issuance of shares and listing on the Beijing Stock Exchange, which will not adversely affect its business or financial status [1] Group 1: Agreement and Termination - On July 20, 2023, the company signed a counseling agreement with Industrial Securities Co., Ltd. for the public issuance of shares to unspecified qualified investors and listing on the Beijing Stock Exchange [1] - The company submitted the counseling filing application materials to the Beijing Regulatory Bureau of the China Securities Regulatory Commission, which accepted the application [1] - After careful consideration of its current business operations and future strategic development, the company decided to terminate the counseling agreement, which has been confirmed by the Beijing Regulatory Bureau [1] Group 2: Future Plans and Impact - The company will consider its development needs and market conditions for future capital market arrangements [1] - The board of directors believes that the termination of the agreement will not have any significant adverse impact on the company's business, operations, or financial condition, nor will it affect the overall interests of the company and its shareholders [1]

Core Viewpoint - The Beijing Stock Exchange (BSE) has significantly increased the frequency of IPO review meetings since Q4 2025, focusing on nurturing specialized and innovative hard-tech enterprises, which has led to heightened interest among companies listed on the New Third Board to pursue listings on the BSE [1] Group 1: IPO Activity and Company Listings - Over ten companies listed on the New Third Board completed their listing guidance filings for the BSE in the first week of February 2026 [1] - Companies must enter the innovation layer of the New Third Board before they can apply for public stock issuance and listing on the BSE [1] Group 2: Featured "Little Giant" Enterprises - Tian Nan Electric, Baoyin Special Materials, Yongzhi Co., and Chaopai New Materials have submitted their applications for public stock issuance and listing on the BSE, with Tian Nan Electric reporting net profits of 77.60 million yuan and 127 million yuan for 2023 and 2024, respectively [2] - Baoyin Special Materials reported net profits of 78.19 million yuan and 88.71 million yuan for the same years, but faces risks of not meeting the financial conditions for BSE listing [2] - Yongzhi Co. reported net profits of 2.48 million yuan and 60.09 million yuan for 2023 and 2024, while Chaopai New Materials reported net profits of 37.23 million yuan and 49.56 million yuan for the same period [3] Group 3: Shift in Listing Plans - Several companies, including Shen Dawei and Linquan Co., have changed their listing plans from the Shenzhen Stock Exchange to the BSE, citing strategic considerations and discussions with their advisory firms [4][5] - Other companies like Hongyi Precision, Quansheng Cabin, Chengfeng New Materials, and Dishi Technology have also shifted their listing applications to the BSE [6] Group 4: Market Dynamics - The market is experiencing a positive cycle characterized by the gathering of quality enterprises, improved liquidity, institutional empowerment, and performance realization, indicating a transition from a focus on "small and beautiful" enterprises to a new development stage of "strong and enduring" [6]

Core Insights - The Beijing Stock Exchange (BSE) has significantly increased the frequency of IPO review meetings since Q4 2025, focusing on nurturing specialized and innovative hard-tech enterprises, which has led to heightened interest among companies listed on the New Third Board to pursue BSE listings [1] Group 1: Company Listings - Over ten companies listed on the New Third Board completed their listing guidance filings for the BSE in the first week of February 2026 [1] - Tian Nan Electric, a national-level specialized "little giant" enterprise, reported audited net profits of 77.60 million yuan and 127 million yuan for 2023 and 2024, respectively, with weighted average return on net assets of 14.67% and 22.21% [1] - Bao Yin Special Materials, also a national-level specialized "little giant," reported net profits of 78.19 million yuan and 88.71 million yuan for 2023 and 2024, with return on net assets of 7.02% and 7.34%, but may not meet the financial conditions for BSE listing [2] - Yong Zhi Co., which focuses on semiconductor chip packaging materials, reported net profits of 2.48 million yuan and 60.09 million yuan for 2023 and 2024, with return on net assets of 0.60% and 13.27% [2] - Chao Pai New Materials, specializing in the resource utilization of coal gangue solid waste, reported net profits of 37.23 million yuan and 49.56 million yuan for 2023 and 2024, with return on net assets of 8.62% and 10.80% [3] Group 2: Changes in Listing Plans - Several companies, including Shen Da Wei and Lin Quan Co., have announced changes in their listing plans, opting to pursue BSE listings instead of previously planned listings on other exchanges [4][5] - The industry is witnessing a trend where companies are adjusting their listing strategies to align with the BSE's focus, indicating a shift towards a more favorable market environment for specialized enterprises [5]

Core Viewpoint - The company has decided to terminate its application for public stock issuance and listing on the Beijing Stock Exchange based on its current business operations and future strategic development considerations [1] Group 1 - The company held its 26th meeting of the 3rd Board of Directors on May 9, 2023 [1] - The company convened its second extraordinary general meeting of 2023 on May 25, 2023, to review the proposal for public stock issuance [1] - The decision to terminate the stock issuance application was made after careful research and consideration by the company [1]

Group 1 - The core point of the news is that Hubei Chuda Intelligent Equipment Co., Ltd. has submitted an application for public offering of shares to unspecified qualified investors and plans to list on the Beijing Stock Exchange, with the filing date set for February 3, 2026, and the counseling institution being Guotou Securities [1][2] - The counseling agreement between Guotou Securities and Chuda Intelligent was signed on January 27, 2026, and additional participating service institutions include Beijing Junhe Law Firm and Zhongshen Zhonghuan Accounting Firm [2][3] - Chuda Intelligent previously submitted an application for public offering to the Beijing Stock Exchange in June 2024 but withdrew the application in August 2025, leading to the termination of the review process by the exchange [3] Group 2 - Chuda Intelligent, established in 2005, provides key equipment and intelligent production lines for glass packaging container and glass product manufacturing enterprises [3] - The company's direct clients include various glass production companies such as Guizhou Moutai Distillery Group, Sichuan Yibin Global Glass Manufacturing Co., and Shandong Pharmaceutical Glass Co., among others [3] - Financial performance shows that the company's operating revenue for 2023, 2024, and the first nine months of 2025 were 300.82 million yuan, 312.41 million yuan, and 239.22 million yuan respectively, with net profits of 44.56 million yuan, 54.41 million yuan, and 35.79 million yuan respectively [3][4] Group 3 - The company's gross profit margins for 2023, 2024, and the first nine months of 2025 were 32.64%, 34.36%, and 33.84% respectively, indicating a relatively stable profitability [4] - The weighted average return on equity for the same periods was 46.57%, 38.69%, and 19.13%, showing a significant decline in 2025 [4] - The company plans to raise 205 million yuan for projects including the construction of an intelligent equipment production base and an intelligent equipment research and development center, with total investment in these projects amounting to 237.41 million yuan [5][6]

Core Viewpoint - Zhejiang Youwei New Materials Co., Ltd. is initiating an IPO counseling process to list on the Beijing Stock Exchange, having previously attempted to list on the Shenzhen Stock Exchange but withdrew the application [1][2]. Company Overview - Established on December 18, 2014, the company specializes in the research, production, and sales of auxiliary materials for composite material molding and structural core materials, including vacuum bag films and core materials like balsa wood and PET foam [2]. - The company is headquartered in Jiaxing Economic and Technological Development Zone, Zhejiang Province [1]. Shareholding Structure - The major shareholders include Fan Airong, who holds 12.8 million shares (25.60%), Fan Qiulan with 12 million shares (24.00%), and Fan Tao with 12 million shares (24.00%). Together, they control 73.6% of the company [2]. Financial Performance - In the first half of 2025, the company reported revenue of 402 million yuan, representing a year-on-year increase of 64.03%. The net profit attributable to shareholders was 45.91 million yuan, up 75.82% year-on-year [2].

Group 1 - The Beijing Stock Exchange will hold its 13th review meeting on February 4, 2026, to discuss the initial public offering (IPO) of Guangdong Huahui Intelligent Equipment Co., Ltd. (referred to as "Huahui Intelligent") [1] - Huahui Intelligent plans to raise 459.1175 million yuan for the research and production project of Dongguan Huahui New Energy Intelligent Equipment [1] - The sponsoring institution for the company is Guotai Junan Securities Co., Ltd., with representatives Lei Hao and Liu Yujun [1] Group 2 - The controlling shareholders of Huahui Intelligent are Zhang Siyuan and Zhang Siyou, who are brothers and have signed a "Joint Action Agreement" [2] - According to the agreement, both parties will maintain consistency in major company decisions, with Zhang Siyuan's opinion prevailing in case of disagreement [2] - The agreement is effective from the signing date until 36 months after the company's public stock issuance and listing on domestic stock exchanges, with a potential extension of another 36 months if not terminated in writing [2]

Core Viewpoint - Ningbo Jiayin Electromechanical Technology Co., Ltd. has signed a counseling agreement with GF Securities to apply for public stock issuance and listing on the Beijing Stock Exchange, marking a significant step in its growth strategy [1] Group 1: Company Overview - Jiayin Technology was established in 2001 and is recognized as a national high-tech enterprise specializing in the research and production of core execution, control components, and sensors for smart home appliances [1] - The company operates 16 business divisions, providing a comprehensive one-stop solution for most key components required in smart home appliances [1] - Jiayin Technology's products, including solenoid valves, electromagnetic pumps, and flow meters, have established a unique market advantage and are widely used by hundreds of well-known domestic and international brands such as Philips, Panasonic, Siemens, Midea, SEB, and Xiaomi [1] Group 2: Financial Data - For the years 2023 and 2024, Jiayin Technology reported audited net profits attributable to shareholders of the listed company of 44.6687 million yuan and 56.5135 million yuan, respectively [2] - The weighted average return on net assets for the same years was 19.29% and 19.91%, meeting the financial conditions required for listing on the Beijing Stock Exchange as per the listing rules [2]

Group 1 - The risk of delisting for Shanxi Jiwei New Materials Co., Ltd. has been completely lifted as of January 20, 2026, after the stock price closed at 1.00 yuan per share for 30 consecutive trading days [2][3] - On January 22, 2026, the stock price surged by 79.09%, closing at 1.97 yuan per share, indicating a positive market response [2] - The company has been listed on the New Third Board's innovation layer since May 31, 2017, and aims to list on the Beijing Stock Exchange (BSE) [4][6] Group 2 - The company reported a revenue of 68.48 million yuan in the first half of 2025, representing a year-on-year growth of 9.79%, with a net profit of 1.616 million yuan, up 8.28% [6] - The total market value of Jiwei Co. was 240 million yuan as of January 22, 2026, which is below the required thresholds for re-entering the innovation layer if delisted [3] - The company is currently in the listing counseling phase for the BSE, which requires continuous listing on the innovation layer for at least 12 months [4] Group 3 - The concrete admixture industry is experiencing structural growth in demand, intensified competition, and policy-driven transformation, with opportunities arising from infrastructure projects in central and western China and the Belt and Road Initiative [7][8] - The company is focusing on technological upgrades, cost optimization, and risk hedging to enhance its resilience against market cycles while exploring new product developments [8] - The potential introduction of a share buyback plan is under consideration to stabilize the stock price [8]