IPO Pipeline Overview - As of September 21, there are 279 companies in the IPO pipeline, with 21 on the Shanghai Main Board, 36 on the Sci-Tech Innovation Board, 25 on the Shenzhen Main Board, 27 on the Growth Enterprise Market, and 170 on the Beijing Stock Exchange [1][2]. Newly Listed Companies - Hebei Shichang Automotive Parts Co., Ltd. was listed between September 15 and September 21, closing at 40.50 yuan per share, representing a 271.56% increase, with a trading volume of 641 million yuan and a turnover rate of 87.48% [3]. New Counseling Records - Eight new companies were added to the counseling records from September 15 to September 21, including Beijing Weina Star Technology Co., Ltd. and others, focusing on various sectors such as satellite technology, quantum computing, and environmental equipment [4][5]. Companies Undergoing Review - Yuan Chuang Technology Co., Ltd. and Suzhou New Guangyi Electronics Co., Ltd. successfully passed the review process, while Xiamen Youxun Chip Co., Ltd. had its review results postponed [8][9]. Registration Approval - Three companies received registration approval from September 15 to September 21, including Zhongcheng Zhixin Engineering Consulting Group Co., Ltd., which provides comprehensive consulting services, and Nabaichuan New Energy Co., Ltd., focusing on thermal management for electric vehicle batteries [10]. Terminated Reviews - Four companies, including Hengyang Jinzelite Special Alloy Co., Ltd. and others, withdrew their IPO applications during the same period [11][12][13].

Group 1 - The core point of the news is that Qingdao Haishen Hair Products Group Co., Ltd. is progressing with its IPO plans, aiming to become the first A-share listed company in the hair products sector in Shandong province [1] - Haishen has initiated a new round of IPO guidance registration with Guotai Haitong Securities Co., Ltd. after previously signing an IPO guidance agreement with Guotai Junan Securities [1] - The company has a strong market position, claiming to have the highest export value of high-end hair products in China, and has been a supplier for L'Oréal since 2012 [6] Group 2 - The controlling shareholder of Haishen is Qingdao Haishen Holding Group Co., Ltd., which holds a 65.36% stake in the company [1] - Haishen has completed multiple rounds of financing since its establishment, with investors including Qingsong Capital and Caitong Venture Capital [1] - The company has expanded its operations, opening its first flagship store in Shanghai in 2023 and establishing a new R&D center for high-end wigs in 2023 [9]

Core Viewpoint - The first phase of the employee stock ownership plan of Henan Ruibeka Hair Products Co., Ltd. has reached its expiration date on September 19, 2025, and all shares held under this plan have been sold [1][6]. Summary by Sections Approval Procedures for the Employee Stock Ownership Plan - The company held board meetings and a shareholders' meeting in September 2016 to approve the employee stock ownership plan and related matters [1]. - On November 12, 2016, the company announced the completion of stock purchases under the plan, acquiring a total of 18,722,649 shares, with a lock-up period of 12 months [2]. - The plan's duration was initially set for a maximum of 24 months, expiring on September 19, 2018 [2]. - In April 2017, the company approved a capital reserve conversion plan, increasing the shares held under the employee stock ownership plan to 22,467,179 shares [2]. - The plan's duration was extended for an additional 24 months in August 2018 and again in August 2020 [3]. - In September 2022, the duration was extended for another 12 months, and in August 2023, it was further extended by 2 years, now set to expire on September 19, 2025 [4]. Sale of Shares Under the Employee Stock Ownership Plan - The first phase of the employee stock ownership plan has now expired, and all shares have been sold [5][6].

Company Overview - Qingdao Haishen Hair Products Group Co., Ltd. (referred to as "Haishen") has filed for listing on the main board with the Qingdao Securities Regulatory Bureau on September 18, 2025 [1] - The company was established on June 19, 2020, with a registered capital of 120 million yuan, and is controlled by Qingdao Haishen Holding Group Co., Ltd., which holds 65.36% of its shares [1][2] - As of May 2025, Haishen Group has 16 subsidiaries and 1,400 employees, with 7 factories in China and 2 overseas production bases, exporting to 26 countries and regions [2] Business Development - Haishen started as an exporter of hair products and gained significant recognition in international markets [2] - The company became a supplier for L'Oréal in 2012 and ranked third in export volume among Chinese hair product companies in 2017 [3] - In 2021, Haishen's export volume exceeded 100 million USD for the first time, and in 2022, it completed a Series A financing round [3] Market Position - The hairpiece market is primarily concentrated in Europe, North America, and Africa, with the domestic market gradually emerging [5] - Haishen is recognized as a leading player in the high-end hairpiece export sector, holding the top position in the industry [5] - Competitors in the Chinese market include Rebeccah and Baositang, with Rebeccah facing significant financial challenges recently [5]

Group 1 - Qingdao Haishen Hair Products Group Co., Ltd. has received registration for IPO guidance on the A-share main board, with Guotai Junan as the advisory institution [1] - The company was established in 2020 and operates as a comprehensive enterprise engaged in the research and development, production, and sales of hair products [1]

公开资料显示，海森林成立于2020年，是一家集研发、生产、销售于一体的发制品企业。产品涵盖女士 头套、男士发块、发帘、发束、眼睫毛等系列产品。 股东方面，青岛海森林控股集团有限公司持有海森林65.36%的股份，为后者控股股东。 9月19日消息，据证监会网站披露，青岛海森林发制品集团股份有限公司（以下简称"海森林"）已于 2025年9月18日在青岛证监局进行上市辅导备案登记，拟申请主板上市。 ...

Group 1 - The controlling shareholder of Xinhua Jin, Shandong Lujin Import and Export Group Co., Ltd., holds 185,532,352 shares, accounting for 43.27% of the total shares of the company [1] - A total of 612,352 shares are judicially frozen, and 184,920,000 shares are marked, which together account for 100% of the shares held by the controlling shareholder and 43.27% of the company's total shares [1] - For the first half of 2025, the revenue composition of Xinhua Jin is as follows: hair products 61.93%, e-commerce 21.37%, textiles 14.87%, others 1.81%, and graphite 0.01% [1] Group 2 - As of the report, the market capitalization of Xinhua Jin is 2.6 billion [2]

Core Insights - The hair products industry in Heze has developed a complete industrial chain, evolving from raw human hair collection to refined production processes, including initial processing, weaving, and high-end wig customization [2] - Heze's hair products processing enterprises exceed 1,500, employing nearly 100,000 people, with an annual processing capacity of 5,000 tons of raw hair and producing 30 million various hair products, capturing 70% of the global market share for hair extensions [2] - The export value of hair products is projected to reach 2.82 billion yuan in 2024, accounting for 4.5% of the city's total import and export value, with exports covering over 80 countries and regions [2] Market Expansion Strategies - The local government encourages enterprises to adapt to international market changes by innovating business models and enhancing product quality, focusing on transitioning from offline to online global sales through cross-border e-commerce [3] - Over 120 hair product companies in Juancheng County are engaged in cross-border e-commerce, utilizing social media platforms like Facebook and Instagram to attract global consumers [3] - The introduction of logistics partners like DHL and FedEx has reduced logistics costs by 30%, significantly shortening cross-border transaction cycles [3] International Market Development - Policies have been established to support overseas exhibitions and trademark registrations, aiming to diversify market presence while consolidating traditional markets [4] - Exports to South Korea, Europe, and Latin America have seen significant growth, with increases of 35.5%, 7.6%, and 511.3% respectively from January to July this year [4] - Participation in trade shows in East Africa has resulted in new market breakthroughs, with eight companies establishing connections with Kenyan distributors [4] Future Directions - The local business departments will continue to implement government strategies, focusing on enhancing the hair products industry's development and promoting high-end, branded, and international growth [5] - Ongoing initiatives will include extensive research, training, and services to better understand international market dynamics and improve the industry's core competitiveness [5]

Group 1 - The event held in Heze City focused on enhancing the brand influence and market competitiveness of "Jiaocheng Human Hair" products through a series of actions and plans [1][3] - The brand building strategy involves a collaborative mechanism of "government guidance + association promotion + enterprise主体" to support enterprises in obtaining trade support policies and certifications [3] - Efforts are being made to create a regional brand for "Jiaocheng Human Hair" by integrating the "Jiaocheng" concept into trademark registration and product sales, aiming for global recognition [3] Group 2 - The initiative includes participation in various domestic and international exhibitions to showcase the quality and innovation of Jiaocheng hair products, enhancing brand awareness [3] - New media platforms are utilized for brand promotion, employing short videos and live broadcasts to demonstrate the craftsmanship and product features of Jiaocheng hair products [3]

Core Viewpoint - The press conference highlighted the high-quality development of the wig industry in Heze, showcasing its complete industrial chain and significant international market presence [4][6]. Industry Overview - The wig industry in Heze originated in the 1970s and has evolved into a comprehensive industrial chain, including raw material collection, initial processing, weaving, and high-end customization [4]. - There are over 1,500 wig processing enterprises in Heze, employing nearly 100,000 people, with an annual processing capacity of 5,000 tons of raw hair and producing 30 million various wig products [4]. - The city holds a 70% share of the global market for hair extensions, with an expected export value of 2.82 billion yuan in 2024, accounting for 4.5% of the city's total import and export value [4]. Market Expansion Strategies - The county is focusing on transforming wig exports from offline to online through cross-border e-commerce, with over 120 enterprises engaged in this business [5]. - Companies are utilizing social media platforms like Facebook, Twitter, and Instagram to reach global consumers and are receiving training to facilitate rapid international expansion [5]. - Logistics costs have been reduced by 30% through partnerships with DHL and FedEx, significantly shortening cross-border transaction cycles [5]. Infrastructure and Support - The establishment of public service platforms such as bonded warehouses and cross-border e-commerce service centers aims to enhance efficiency and reduce costs for wig processing and export enterprises [6]. - The opening of the Heze Peony Airport's international cargo station has decreased the transportation time for imported raw materials by 2-3 days [6]. Market Diversification Efforts - Policies have been developed to support overseas exhibitions and trademark registrations, encouraging companies to expand into new markets while consolidating traditional ones [7]. - Exports to South Korea, Europe, and Latin America have seen significant growth, with increases of 35.5%, 7.6%, and 511.3% respectively in the first seven months of the year [7]. - Participation in trade fairs in East Africa has led to new market breakthroughs, establishing connections with over 200 professional buyers [7]. Future Development Plans - The local government plans to enhance the "Business 'He' You 365" service brand, focusing on the wig industry's development and conducting extensive research and training [8]. - There is an emphasis on upgrading the industry towards high-end, branded, and international standards, encouraging technological investment and product optimization [8]. - The introduction of leading cross-border e-commerce platforms and the construction of overseas warehouses are part of the strategy to build a comprehensive marketing ecosystem [8].