Core Viewpoint - Shanghai Stock Exchange's listing review committee will hold a meeting on November 14, 2025, to review the initial public offering (IPO) of Shenzhen Hengyun Chang Vacuum Technology Co., Ltd. [1] Fundraising and Project Allocation - Hengyun Chang plans to raise a total of 146,900.00 million CNY for various projects, including: - Shenyang Semiconductor RF Power System Industrialization Project: Total investment of 16,573.24 million CNY, with 14,000.00 million CNY from the raised funds [2] - Semiconductor and Vacuum Equipment Core Component Intelligent Production Operation Base Project: Total investment of 69,696.96 million CNY, with 69,000.00 million CNY from the raised funds [2] - R&D and Frontier Technology Innovation Center Project: Total investment of 36,267.07 million CNY, with 35,000.00 million CNY from the raised funds [2] - Marketing and Technical Support Center Project: Total investment of 12,378.86 million CNY, with 12,000.00 million CNY from the raised funds [2] - Supplementing Working Capital: Total investment of 16,900.00 million CNY, with 16,900.00 million CNY from the raised funds [2] - The total investment for all projects amounts to 151,816.13 million CNY [2] Shareholding Structure - Shenzhen Hengyun Chang Investment Co., Ltd. holds 25.8179% of the shares, making it the controlling shareholder. The actual controller is Le Weiping, who directly holds 11,721,312 shares (23.0866%) and indirectly controls a total of 72.8727% of the voting rights through various investment entities [2] Sponsorship - The sponsor for Hengyun Chang's IPO is CITIC Securities Co., Ltd., with representatives Wang Chunran and Cao Yang [3]