Core Points - The 2025 China Farmers' Harvest Festival main event commenced in Shandong Province, showcasing modern agricultural machinery as a highlight of the celebration [1][5] - The festival emphasizes the theme "Celebrating Agricultural Harvests and Enjoying a Better Life," with over 3,000 related events held nationwide [5] Group 1: Agricultural Machinery - The modern agricultural machinery exhibition featured high-end intelligent machines, including a hybrid tractor with over 600 horsepower and a grain combine harvester with a feeding capacity exceeding 16 kilograms per second [3] - Smaller, specialized machines were also highlighted, such as a mobile water and fertilizer integration machine for precise irrigation and fertilization, and a blueberry harvester utilizing inertial vibration technology for gentle picking [3][5] Group 2: Smart Agriculture - The exhibition showcased advancements in smart agriculture, including a "space-ground integrated agricultural precision service" system that utilizes satellite remote sensing, drones, and IoT technology for comprehensive monitoring of crop conditions [5] - The event aimed to promote the latest achievements in autonomous research and development of high-end intelligent agricultural machinery in China [5] Group 3: Community Engagement - The festival included various community activities such as rural markets, food fairs, and cultural carnivals, aimed at marketing and promoting national premium brands and local specialty agricultural products [5]

Core Viewpoint - The Shanghai Stock Exchange has decided to terminate the review of the initial public offering (IPO) application for Xinjiang Boshi Ran Intelligent Agricultural Machinery Co., Ltd. (referred to as "Boshi Ran") on the Shanghai Main Board [1][3]. Group 1: Company Overview - Boshi Ran is a modern high-end intelligent agricultural machinery manufacturing enterprise that integrates research and development, production, sales, and services [3]. - The company's product line focuses on cotton harvesting machines and includes hydraulic turning plows, combined tillage machines, precision film laying seeders, spray rod sprayers, and residual film recovery machines, covering the entire cotton planting industry chain from tillage, sowing, management, to harvesting [3]. Group 2: IPO Details - The company originally planned to publicly issue up to 37.43 million shares, accounting for no less than 25% of the total share capital after issuance [5]. - The intended fundraising amount was 1.186 billion yuan, aimed at projects including high-end agricultural machinery R&D and production base construction, agricultural machinery sales and after-sales service center construction, intelligent agricultural machinery R&D center and agricultural machinery cloud platform construction, and supplementing working capital [5]. - The lead underwriter for this issuance was Guotou Securities Co., Ltd., with representatives Wei Wei and Xiao Jiangbo [6].

Core Viewpoint - The IPO application of Xinjiang Bosiran Intelligent Agricultural Machinery Co., Ltd. has been terminated due to the withdrawal of the application by the company and its sponsor, as per the regulations of the Shanghai Stock Exchange [1] Company Overview - Bosiran is a modern high-end intelligent agricultural machinery manufacturer that integrates research and development, production, sales, and service [1] - The company's core product is the cotton harvester, along with other agricultural machinery such as hydraulic turning plows, combined tillage machines, precision film laying seeders, spray rod sprayers, and residual film recovery machines, covering the entire cotton planting industry chain [1] Product Development - The company has focused on innovation and has continuously upgraded its six-row box-type machines, leading to the production of high-end models that meet diverse customer needs [1] - Bosiran has developed various agricultural machinery products to address weak links in China's agricultural mechanization process, resulting in a rich and diversified product structure [1] Financial Performance - In 2022, 2023, and 2024, Bosiran achieved operating revenues of approximately 1.138 billion, 989 million, and 1.030 billion RMB, respectively, with net profits of approximately 238 million, 184 million, and 184 million RMB [2] - The total assets of the company as of December 31 for 2022, 2023, and 2024 were 1.479 billion, 1.789 billion, and 2.077 billion RMB, respectively [3] - The equity attributable to the parent company increased from approximately 901 million RMB in 2022 to approximately 1.284 billion RMB in 2024 [3] - The company's asset-liability ratio increased from 30.75% in 2022 to 33.87% in 2024 [3]

Core Viewpoint - The company Xinjiang Bosiran Intelligent Agricultural Machinery Co., Ltd. (referred to as "Bosiran") has faced significant delays in its IPO process, with both revenue and net profit declining in 2023, despite the addition of a major overseas client contributing over 60% of its revenue in the first three quarters of 2024 [1][5][6]. Financial Performance - In 2023, Bosiran's revenue and net profit both decreased, with reported figures of approximately 9.89 billion yuan in revenue and 1.84 billion yuan in net profit, down from 11.38 billion yuan and 2.38 billion yuan in 2022, respectively [5]. - The company's revenue for the years 2021 to 2024 (first three quarters) was approximately 7.27 billion yuan, 11.38 billion yuan, 9.89 billion yuan, and 8.27 billion yuan, while net profits were approximately 1.38 billion yuan, 2.38 billion yuan, 1.84 billion yuan, and 1.81 billion yuan [5]. Client Base and Market Expansion - In the first three quarters of 2024, Bosiran secured a new major overseas client, Tashkent Traktor Zavodi, which accounted for over 61% of its sales, generating approximately 5.08 billion yuan in revenue from the sale of 300 cotton harvesting machine components [6][7]. - Prior to this, the company had a relatively low customer concentration, with the top five clients accounting for approximately 14.3%, 14.02%, and 15.94% of total sales from 2021 to 2023 [8]. Funding and Financial Strategy - Bosiran plans to raise approximately 11.86 billion yuan through its IPO, with 2.6 billion yuan earmarked for working capital, while the remainder will be invested in high-end agricultural machinery R&D, production base construction, and service center development [9]. - Despite the planned fundraising, the company has maintained a healthy cash position, with cash reserves of approximately 2.1 billion yuan, 3.09 billion yuan, 2.22 billion yuan, and 4.03 billion yuan at the end of 2021, 2022, 2023, and the first three quarters of 2024, respectively [9][10].

制图：佘诗婕 星标 ★ IPO日报 精彩文章第一时间推送 近日，农机流通龙头吉峰三农科技服务股份有限公司（下称"吉峰科技"，300022.SZ）宣布，公司或迎来新的控股股东。 据最新公告，安徽澜石企业管理咨询有限公司（下称"安徽澜石"）将以14亿元入主吉峰科技，后者完成实控人变更。 年内涨幅达50% 4月10日晚间，吉峰科技公告，公司控股股东四川五月花拓展服务有限公司（下称"拓展公司"）筹划重大事项，该事项可能导致公司控股股东及实 际控制人发生变更。其股票自4月11日开市起已停牌，停牌时间不超过2个交易日，后停牌时间延期至4月17日。 截至4月10日收盘，吉峰科技股价报8.06元/股，总市值39.84亿元。 4月17日晚，公司公告称，通过股份转让、表决权委托，安徽澜石将成为上市公司的控股股东，安徽澜石实控人田刚印将成为上市公司实际控制 人。同时，安徽澜石拟认购上市公司发行的1.08亿股股票，进一步巩固控制权。认购单价为5.66元/股，安徽澜石认购全部拟发行的股份的价款为 6.12亿元。 具体来看，拓展公司与安徽澜石签署了《股份转让协议一》，约定将其持有的7236万股股份以每股8.06元的价格转让给安徽澜石，转 ...

Core Viewpoint - Jifeng Technology is set to undergo a change in controlling shareholder, with Anhui Lanshi acquiring a controlling stake for 1.4 billion yuan, marking a significant shift in the company's ownership structure [1][3]. Group 1: Shareholder Change - Anhui Lanshi will become the controlling shareholder of Jifeng Technology through a share transfer agreement with Sichuan Mayflower Expansion Service Co., which involves transferring 72.36 million shares at a price of 8.06 yuan per share, totaling 583 million yuan [3][4]. - Additionally, Anhui Lanshi plans to subscribe to 108 million new shares at a price of 5.66 yuan per share, amounting to 612 million yuan, further consolidating its control [3][5]. - Following the completion of these agreements, Anhui Lanshi will hold a total of 97.12 million shares, representing 19.65% of the total share capital of Jifeng Technology [4][6]. Group 2: Financial Performance - For the fiscal year 2024, Jifeng Technology reported a revenue of 2.709 billion yuan, reflecting a year-on-year increase of 2.24%, while the net profit attributable to shareholders turned negative at -30.81 million yuan, a decline of 283.36% compared to the previous year [8][9]. - The decline in net profit is attributed to a weak market demand for corn planters, intensified competition, and low corn prices, which have adversely affected the company's manufacturing segment [9][10]. Group 3: Industry Outlook - The agricultural machinery industry is transitioning towards full mechanization, intelligence, and sustainability, with government policies increasingly favoring high-end intelligent agricultural machinery [10][11]. - Jifeng Technology is optimistic about future growth and is actively seeking partnerships with companies possessing core technologies, aiming to enter the high-end, intelligent agricultural machinery sector, including agricultural robotics [11].