特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 | 版 权 ： 本 文 部 分 素 材 源 自 网 络 ， 版 权 归 原 作 者 所 有 ， 观 点 代 表 作 者 本 人 ， 不 代 表 本 号立 场 | 转 载 ： 须 本 号 授 权 ， 请 联 系 主 编 | 责 编 ： 安 安 | 视 觉 ： 长 艳 柱 子 北交所上市委将于8月29日上午9时召开2025年第21次审议会议，审议的发行人为江苏省精创电气股份有限公司。精 创电气本次拟募集资金2.5亿元，分别用于核心产线智能化升级改造项目、智能仪表研发中心及冷云平台建设项目、营 销网络建设项目，其保荐人、主承销商为国泰海通证券。 精 创 电 气 招 股 说 明 书 显 示 ， 2022 年 至 2024 年 期 间 ， 公 司 营 业 收 入 分 别 为 39,633.69 万 元 、 43,450.44 万 元 和 49,879.96 万 元 ， 呈 现 出 逐 年 增 长 的 趋 势 。 其 中 ， 2024 年 营 业 收 入 较 2023 年 增 长 了 14.80% ， 较 ...

Core Viewpoint - The Beijing Stock Exchange has decided to terminate the review of Wuxi Sunshine Precision Machinery Co., Ltd.'s application for public stock issuance and listing [1][2]. Company Overview - Sunshine Precision Machinery specializes in the research, design, production, sales, and maintenance of precision spindle, main roller, arc guide rail, and precision bearing components [2]. - The controlling shareholders are Yang Jin and Pu Minmin, who together hold 91.81% of the company's shares [2]. Initial Public Offering (IPO) Details - The initial number of shares intended for issuance was up to 8.8 million, with a potential additional 1.32 million shares if the overallotment option was fully exercised, bringing the total to 10.12 million shares [3]. - The company aimed to raise 500 million yuan, which was planned for the construction of a high-end equipment precision core component production base and to supplement working capital [3][4]. Project Investment Breakdown - Total planned investment for the high-end equipment precision core component production base is approximately 671.946 million yuan, with 500 million yuan expected to be raised from the IPO [4]. - Specific projects include: - Digital transformation of the production line with an investment of 400.15586 million yuan, expecting to allocate 300 million yuan from the raised funds [4]. - R&D center construction with an investment of 145.3874 million yuan, expecting to allocate 75 million yuan from the raised funds [4]. - Supplementing working capital with an allocation of 125 million yuan from the raised funds [4].

Core Viewpoint - Zhongcheng Consulting's IPO approval at the Beijing Stock Exchange has been marred by a significant reduction in fundraising from 330 million yuan to nearly 200 million yuan, reflecting ongoing regulatory scrutiny and the company's concessions [1][7]. Financial Performance - The company's revenue and net profit have shown growth from 2022 to 2024, with revenues of 303 million yuan, 368 million yuan, and 396 million yuan, representing a compound annual growth rate (CAGR) of 14.19%. Net profits were 64.4 million yuan, 81 million yuan, and 105 million yuan, with a CAGR of 27.97% [8][12]. - However, in the first half of 2025, revenue declined by 4.08% year-on-year, and new orders dropped by over 46% in the first five months [12][14]. Business Structure and Risks - Zhongcheng Consulting relies heavily on Jiangsu province for over 96% of its revenue, indicating a significant regional dependency risk [2][16]. - The company's ownership structure is highly concentrated, with the founder controlling 86.98% of the shares, raising potential governance concerns [2][17]. Fundraising and Regulatory Scrutiny - After three rounds of inquiries from the Beijing Stock Exchange, Zhongcheng Consulting reduced its fundraising projects and amounts, ultimately canceling the supplementary working capital project and the EPC business expansion project [5][7]. - The company faced questions regarding the necessity of fundraising given its substantial financial investments and cash dividends in previous years [6][18]. Management and Governance Issues - The transition of control from the founder to her husband has raised questions about the stability of the company's governance [17][20]. - The company has faced regulatory penalties for accounting errors and inaccurate disclosures, highlighting the need for improved internal management [20][21]. Future Outlook - The company forecasts a decline in revenue and net profit for 2025, projecting revenues of approximately 384 million yuan and net profits of about 101 million yuan, indicating ongoing challenges [16][21]. - The ability of the current management to expand beyond Jiangsu and stabilize the company's performance remains uncertain [21].

8月15日晚间，北京证券交易所(简称"北交所")上市委员会今年第20次审议会议结果出炉，哈尔滨岛田 大鹏工业股份有限公司(简称"大鹏工业")符合发行条件、上市条件和信息披露要求。 不过上市委员会对大鹏工业提出了审议意见，要求大鹏工业统筹考虑报告期经营活动产生的现金流量净 额合计4013.6万元、2025年上半年经营活动产生的现金流量净额4109.29万元、"智能工业清洗设备生产 研发基地项目(二期)"预留铺底流动资金2816.55万元等情况，借鉴《资产评估执业准则——企业价值》 预测未来现金流量的理念和思路，系统分析并说明"补充流动资金"2500万元的必要性和合理性。 上市委员会向大鹏工业提出问询的主要问题包括，经营业绩真实性，经营业绩可持续性，以及募投项目 的合理性和必要性。 新"国九条"后北交所首家净利润低于4000万元的上会企业 2024年度，大鹏工业实现营业收入2.65亿元，扣非后归母净利润0.38亿元。数据显示，这是新"国九 条"颁布以来，首家最近一年净利润低于4000万的北交所企业上会接受审议。 此外，2022年至2024年，每年的政府补助金额占公司利润总额的比例分别为16%、28%和29%，占比 ...

Core Viewpoint - Jiren Pharmaceutical is advancing its IPO process after transitioning from the Shanghai Stock Exchange to the Beijing Stock Exchange, with a focus on its core product, Shufeng Jiedu Capsule, which is included in treatment plans for various viral infections [1][2]. Company Overview - Jiren Pharmaceutical, established in April 2001, has developed into a modern Chinese medicine manufacturer integrating standardized planting of medicinal materials, production, and sales of traditional Chinese medicine [6]. - The company has ventured into the financial sector by holding a 0.18% stake in Bozhou Yaodu Rural Commercial Bank since 2018 [6]. Product Information - Shufeng Jiedu Capsule is a proprietary product of Jiren Pharmaceutical, primarily used for treating upper respiratory infections and various viral diseases [2]. - The market share of Shufeng Jiedu Capsule is currently 4.24%, ranking third among cold medicine brands, following Yiling Pharmaceutical's Lianhua Qingwen Granules and Haitai Pharmaceutical's Sijikang Antiviral Mixture [3][2]. Financial Performance - Jiren Pharmaceutical reported revenues of approximately CNY 1.134 billion and CNY 1.230 billion for 2023 and 2024, respectively, with net profits of CNY 131 million and CNY 132 million [6]. - Sales revenue for Shufeng Jiedu Capsule is projected to decline, with expected revenues of CNY 475 million in 2023 and CNY 377 million in 2024 [3][4]. Regulatory Scrutiny - The National Equities Exchange and Quotations (NEEQ) has raised concerns regarding the high academic promotion costs for Shufeng Jiedu Capsule despite its long-standing inclusion in medical insurance, as well as the effectiveness of measures to isolate commercial bribery risks between the company and its promoters [1][5]. - Jiren Pharmaceutical has engaged 299 and 273 promoters for academic promotion in 2023 and 2024, respectively, and has conducted visits to over 590,000 and 536,000 individuals in relevant medical departments [5].

Core Viewpoint - Hubei Botao Fiber Co., Ltd. is pursuing an IPO on the Beijing Stock Exchange, aiming to raise approximately 345 million yuan for capacity expansion and working capital, despite facing challenges such as a major client's bankruptcy and low capacity utilization rates in recent years [1][4][11]. Financial Performance - The company's operating revenues during the reporting period were 655 million yuan, 740 million yuan, and 836 million yuan, with net profits of 62 million yuan, 60 million yuan, and 61 million yuan respectively [2]. - The total assets as of December 31, 2024, are projected to be approximately 647.49 million yuan, with total equity of about 547.31 million yuan [3]. Client and Revenue Dynamics - The primary client in 2022, Johann Borgers GmbH, went bankrupt, leading to a write-off of 1.6083 million yuan in receivables by the end of 2024 [1][4]. - The company has shifted its focus to international markets, with foreign revenue contributing significantly to total sales, increasing from 26.59% in 2022 to 38.57% in 2024 [4]. Capacity and Utilization - The planned IPO projects are expected to increase polypropylene short fiber capacity by approximately 26.85% and polyester short fiber capacity by 128.57% [1][14]. - Despite the planned expansions, the capacity utilization rates for polypropylene short fiber were around 70% and for polyester short fiber were below 50% during the reporting period [1][11]. Investment Projects - The IPO proceeds will be allocated to three main projects, including a 20,000-ton polypropylene short fiber and 18,000-ton polyester fiber project, with a total investment of approximately 35.47 million yuan [12][14]. - The breakdown of the investment includes 13.07 million yuan for fiber production, 9.11 million yuan for smart upgrades, and 8.79 million yuan for R&D center construction [12]. Related Party Transactions - The company has identified Hubei Shunheng New Materials Co., Ltd. as a related party, with discrepancies in shareholder names noted in various disclosures [7][10]. - The company reported sales to Hubei Shunheng of 422,700 yuan and 725,690 yuan in 2023 and 2024, respectively [10].

Group 1 - The core viewpoint of the news is that Aomisen and Sanxie Electric have received approval from the CSRC for their IPOs, aiming to raise funds for enhancing production capacity and R&D [1][2] - Aomisen plans to raise approximately 195 million yuan, with investments allocated for digital forming equipment, R&D center construction, and working capital [2][3] - Sanxie Electric aims to raise about 159 million yuan to expand production capacity for energy-efficient control motors, enhance R&D, and supplement working capital [2][4] Group 2 - Aomisen's revenue from 2021 to 2024 is projected to grow from 308 million yuan to 358 million yuan, with net profits increasing from approximately 40.98 million yuan to 52.72 million yuan [1][2] - Sanxie Electric's revenue is expected to rise from 287 million yuan in 2022 to 420 million yuan in 2024, with net profits growing from about 26.98 million yuan to 56.33 million yuan [2][4] - The listing committee raised concerns regarding Aomisen's financial sustainability and the rationale behind its fundraising for working capital, given its positive cash flow and lack of funding gaps [3][4] Group 3 - The listing committee questioned the fairness of transactions between Sanxie Electric and its major customer, Leisai Intelligent, particularly regarding sales prices and the sustainability of sales growth post-investment [4][5] - Sanxie Electric's sales to Leisai Intelligent significantly increased after the latter's investment, raising concerns about the potential impact of changes in their business relationship on Sanxie Electric's performance [5]

Group 1 - The core viewpoint of the article highlights the explosive growth in IPO acceptance at the Beijing Stock Exchange (BSE), with 115 companies accepted this year, accounting for 65% of the total market, indicating a shift in listing preferences towards the BSE [2][4] - The BSE has become the preferred listing destination for companies due to its market vitality, institutional advantages, and attractive valuations, which are positioned between the ChiNext and STAR Market [4][5] - Despite the increase in IPO acceptance, the actual number of companies listed on the BSE remains low, with only 6 successful IPOs in the first half of the year compared to other markets [2][8] Group 2 - The BSE's acceptance of 115 companies in the first seven months of the year includes a record 97 in June, reflecting strong market demand and liquidity improvements [4] - The BSE's listing rules and processes are more suitable for small and medium-sized enterprises, including standards for unprofitable companies, which enhances its attractiveness [4][5] - The BSE's IPO review process remains stringent, focusing on the innovation, sustainability, financial authenticity, and governance of companies, which may lead to longer waiting times for listings [7][9] Group 3 - The median time from IPO acceptance to listing at the BSE has increased from 218 days in 2022 to 306 days in 2024, indicating a trend towards longer review periods [8] - The BSE has implemented a preemptive inspection process where regulatory bodies conduct on-site checks before the formal application, ensuring that most issues are addressed early [9] - The BSE is attracting high-quality "specialized, refined, distinctive, and innovative" companies, which are crucial for economic transformation, despite their smaller scale [9]

Group 1 - The company, Guangdong Jinge New Materials Co., Ltd., is undergoing an IPO review process at the Beijing Stock Exchange, with CICC as the sponsor and Tianjian Accounting Firm as the auditor [2] - Established in 2012, the company has a registered capital of 66.952 million yuan and is recognized as a national-level specialized and innovative small giant enterprise engaged in the R&D, production, and sales of functional materials [2] - The chairman and general manager, Huang Chaoliang, directly holds 57.96% of the company's shares and controls a total of 73.22% of the company through his investment in Jinwo Investment [2] Group 2 - The Beijing Stock Exchange has raised concerns regarding the company's actual production capacity of functional powder materials exceeding the approved environmental capacity, questioning the compliance and safety risks associated with this overcapacity [3] - The company has reported investment projects, including new automatic mixing and feeding production lines and the expansion of its second factory, which have procedural deficiencies related to environmental protection, filing, and energy-saving reviews [3] - The exchange has requested a detailed list of these investment projects, including the background and timeline of the procedural deficiencies, potential penalties, and the effectiveness of corrective measures taken [3]

Core Viewpoint - BlueYun Technology Group Co., Ltd. is progressing with its IPO on the Beijing Stock Exchange, showcasing significant revenue growth but a slight decline in net profit [2][3]. Financial Performance - In 2024, the company achieved a revenue of 742.24 million yuan, representing a year-on-year increase of 81.69% [3][4]. - The net profit attributable to shareholders was 51.20 million yuan, showing a slight decrease of 0.15% compared to the previous year [3][4]. - The gross profit margin for the period was 24.33%, down from 25.79% in the same period last year [4]. - Basic earnings per share decreased by 21.92% to 0.57 yuan from 0.73 yuan [4]. Contracts and Partnerships - In December 2024, BlueYun Technology signed a contract worth 1.391 billion yuan with China Mobile Communications Group Beijing Co., Ltd. for a duration of four years, focusing on providing computing resource integration, computing power optimization, and high-performance cloud services [5]. Company Background - Established in 2004, BlueYun Technology specializes in computing power solutions and GPU cloud services, with notable clients including Zhipu Huazhang and Aido Chao Yue [2]. - The actual controller, Li Jian, holds a 10.18% direct stake and enjoys a total voting power of 47.29% through his indirect holdings [2].