Core Viewpoint - Shanghai Tongling Automotive Technology Co., Ltd. (Tongling Technology) has been approved for its initial public offering (IPO) on the Beijing Stock Exchange, marking the 80th company to pass the review this year [1]. Company Overview - Tongling Technology focuses on the research, production, and sales of automotive interior components, including door trim strips, instrument panels, and center console panels, primarily for passenger vehicles [1]. - The company is recognized as a high-tech enterprise that integrates product research and design, mold development, production, and sales [1]. Shareholder Structure - The controlling shareholder of Tongling Technology is Xiang Chunchao, who directly holds 14.15% of the company's shares. Together with 23 other shareholders acting in concert, they control 75.88% of the voting rights at the shareholders' meeting [2]. - The actual controllers of the company include Xiang Chunchao, Xiang Jianwu, and Xiang Jianwen, who are family members [2]. IPO Details - Tongling Technology plans to publicly issue up to 15.6 million shares, with a potential increase to 17.94 million shares if the overallotment option is fully exercised [2]. - The company aims to raise approximately 411.44 million yuan (approximately 41.14 million) for projects including the production of automotive interior components, smart upgrades, and research center enhancements [2]. Review Meeting Insights - The review meeting raised inquiries regarding the stability of the company's performance, particularly in light of the rapid development of new energy vehicles and market structural adjustments [3]. - Questions were also posed about the high proportion of overseas revenue and the sustainability of this income, as well as the progress of the construction of the company's factory in Mexico [3].