Core Viewpoint - The company Hongyuan Co., Ltd. is set to issue shares at a price of 9.17 yuan per share with a P/E ratio of 12.34 times, amidst a favorable environment for IPOs on the Beijing Stock Exchange, suggesting a strong recommendation for active subscription [1] Company Overview - Hongyuan Co., Ltd. was established in 2000 and is located in Shenyang, Liaoning Province. The company specializes in the research, production, and sales of electromagnetic wires, which are essential components in high-voltage and large-capacity power transformers and other major power transmission and transformation equipment [2] - The company's products are crucial for the stability and safety of power transmission projects, particularly in ultra/high voltage applications [2] Financial Performance - The revenue for Hongyuan Co., Ltd. during the reporting period (2022-2024) is projected to be approximately 1.311 billion yuan, 1.461 billion yuan, and 2.072 billion yuan, with corresponding net profits of about 50 million yuan, 64 million yuan, and 102 million yuan [4] - The company expects revenue for 2025 to be between 2.47 billion yuan and 2.73 billion yuan, representing a year-on-year growth of approximately 19.18% to 31.73% [4] Product Revenue Composition - The revenue composition by product type shows that the revenue from switch wires exceeds 64% and is on an upward trend, while paper-wrapped wires account for about 20% and are on a downward trend [3] Investment Projects - The company plans to raise approximately 280 million yuan through its IPO, which will be allocated to various projects including the digital upgrade of electromagnetic wire production lines and the establishment of a special electromagnetic wire production base for electric vehicles [7][8]