Group 1 - Hansong Technology (301491) has been listed on the Shenzhen Stock Exchange as of August 6 [1] - The company is a leading provider of high-end audio products and comprehensive audio technology solutions, focusing on R&D, design, and manufacturing for global audio brand clients [2] - Before the issuance, Wang Bin directly held 37.93% of the shares, making him the controlling shareholder, and he and Helge Lykke Kristensen are the actual controllers of the company [2][3] Group 2 - Wang Bin also indirectly controls an additional 9.58% of shares through HanJia Investment, and through various partnerships, he can indirectly control another 5.50% [3] - Together, Wang Bin and Helge Lykke Kristensen control a total of 84.93% of the shares, with their combined total including family members reaching 93.80% [3] - The total amount raised from the issuance is 932.3475 million yuan, with a net amount of 864.8952 million yuan after deducting issuance costs, allocated for various projects including the production of high-end audio products and smart audio IoT products [4]

Core Viewpoint - HANSANG Technology has initiated its subscription process, offering a total of 32.25 million shares at a price of 28.91 yuan per share, with an issuance price-to-earnings ratio of 14.90 times, significantly lower than the industry average of 41.50 times [1][3]. Company Overview - The company specializes in the design, research and development, and manufacturing of audio products [2]. Issuance Information - Total shares issued: 32.25 million - Online subscription shares: 7.74 million - Subscription code: 301491 - Subscription price: 28.91 yuan - Issuance P/E ratio: 14.90 times - Maximum subscription per account: 7,500 shares - Subscription quantity must be in multiples of 500 shares [1][3]. Fundraising Purpose - Investment in smart audio IoT product manufacturing project: 327.13 million yuan - Supplementing working capital: 280 million yuan - Annual production of high-end audio products (1.5 million sets): 200 million yuan - R&D for smart audio and AIoT new technologies and products platform: 194.77 million yuan [3]. Key Financial Metrics - Total assets (2024): 15.15 billion yuan; (2023): 11.13 billion yuan; (2022): 12.57 billion yuan - Net assets (2024): 10.66 billion yuan; (2023): 8.06 billion yuan; (2022): 6.58 billion yuan - Operating revenue (2024): 14.54 billion yuan; (2023): 10.31 billion yuan; (2022): 13.86 billion yuan - Net profit (2024): 2.54 billion yuan; (2023): 1.36 billion yuan; (2022): 1.90 billion yuan - Basic earnings per share (2024): 2.62 yuan; (2023): 1.41 yuan; (2022): 1.96 yuan - Weighted return on equity (2024): 27.10%; (2023): 18.58%; (2022): 33.21% [3].

Group 1: IPO Review and Registration Progress - One company, Beixin Life, successfully passed the IPO review for the Sci-Tech Innovation Board, focusing on innovative medical devices for cardiovascular diseases [2] - Beixin Life reported a cumulative loss of 736 million yuan as of December 31, 2024, due to high R&D and marketing expenses [2] - Two companies, Taikaiying and Hengkang New Materials, are scheduled for IPO reviews on July 25, 2024, targeting the Beijing Stock Exchange and the Sci-Tech Innovation Board respectively [2] Group 2: Company Performance and Financials - Taikaiying, specializing in mining and construction tires, reported a revenue of 2.295 billion yuan in 2024, a year-on-year increase of 12.99%, with a net profit of 157 million yuan, up 13.58% [3] - Hengkang New Materials experienced revenue fluctuations, achieving 322 million yuan, 368 million yuan, and 548 million yuan from 2022 to 2024, with net profits of 101 million yuan, 90 million yuan, and 97 million yuan respectively [3][4] - Hengkang New Materials plans to raise 1 billion yuan through its IPO for projects related to integrated circuit precursors and advanced materials [4] Group 3: New Stock Listings and Market Activity - Huadian New Energy, listed on July 16, 2024, saw its stock price increase by 125.79% on the first day, closing at 7.18 yuan per share after an initial offering price of 3.18 yuan [8] - The IPO of Huadian New Energy raised 18.171 billion yuan, marking the largest fundraising in the A-share market for 2024 [8] - Three new stocks are scheduled for subscription this week, including Hanguo Group, Dingjia Precision, and Hansang Technology, with respective offering prices of 15.43 yuan, 11.16 yuan, and a planned inquiry on July 25 [10][11] Group 4: Policy and Regulatory Developments - Shenzhen aims to become a global hub for nurturing unicorn enterprises, supported by a comprehensive action plan for 2025-2027 that includes policy guidance, capital empowerment, and ecosystem cultivation [13]

Group 1: New Stock Offerings - Three new stocks will be available for subscription in the A-share market this week: Hanhigh Group, Dingjia Precision, and Hansang Technology [1] - Hanhigh Group is a leading domestic home hardware enterprise, Dingjia Precision specializes in functional and protective products for consumer electronics, and Hansang Technology is a comprehensive supplier of high-end audio products and technology solutions [1] Group 2: Hanhigh Group - Hanhigh Group's offering price is 15.43 CNY per share, with a maximum subscription limit of 10,500 shares per account, requiring a market value of 105,000 CNY [1] - The company focuses on the research, design, production, and sales of home hardware and outdoor furniture, integrating diverse original designs with high-quality products [1] - Projected revenues for Hanhigh Group from 2022 to 2024 are 1.62 billion CNY, 2.22 billion CNY, and 2.857 billion CNY, with net profits of 206 million CNY, 333 million CNY, and 531 million CNY respectively [2] Group 3: Dingjia Precision - Dingjia Precision's offering price is 11.16 CNY per share, with a maximum subscription limit of 950,000 shares [4] - The company specializes in the design, research, production, and sales of functional and protective products for consumer electronics, with applications in various devices such as laptops and smartphones [4] - Projected revenues for Dingjia Precision from 2022 to 2024 are 329 million CNY, 367 million CNY, and 408 million CNY, with net profits of 54 million CNY, 52 million CNY, and 60 million CNY respectively [5] Group 4: Hansang Technology - Hansang Technology has not yet disclosed its offering price, with a maximum subscription limit of 7,500 shares, requiring a market value of 75,000 CNY [6] - The company is a leading provider of high-end audio products and comprehensive technology solutions, focusing on high-performance audio and innovative audio products [6] - Projected revenues for Hansang Technology from 2022 to 2024 are 1.386 billion CNY, 1.031 billion CNY, and 1.454 billion CNY, with net profits of 190 million CNY, 136 million CNY, and 254 million CNY respectively [8]

Group 1: New IPOs in A-Share Market - Three new stocks will be available for subscription in the A-share market this week: Hanhigh Group, Dingjia Precision, and Hansang Technology [1] - Hanhigh Group is a leading domestic home hardware enterprise, Dingjia Precision specializes in functional and protective products for consumer electronics, and Hansang Technology is a comprehensive supplier of high-end audio products and technology solutions [1] Group 2: Hanhigh Group Overview - Hanhigh Group's issue price is 15.43 CNY per share, with a single account subscription limit of 10,500 shares, requiring a market value of 105,000 CNY [2] - The company focuses on the R&D, design, production, and sales of home hardware and outdoor furniture, integrating diverse original designs with high-quality products [2] - Hanhigh Group has strong R&D and intelligent manufacturing capabilities, recognized as a national high-tech enterprise, and has won several prestigious design awards [2] - Projected revenues for 2022 to 2024 are 1.62 billion CNY, 2.22 billion CNY, and 2.857 billion CNY, with net profits of 206 million CNY, 333 million CNY, and 531 million CNY respectively [2] Group 3: Dingjia Precision Overview - Dingjia Precision's issue price is 11.16 CNY per share, with a single account subscription limit of 950,000 shares [4] - The company specializes in the design, R&D, production, and sales of functional and protective products for consumer electronics, with applications in various devices [4] - Dingjia Precision has established long-term relationships with major clients in the consumer electronics sector, including well-known brands like Dell and HP [4] - Projected revenues for 2022 to 2024 are 329 million CNY, 367 million CNY, and 408 million CNY, with net profits of 54 million CNY, 52 million CNY, and 60 million CNY respectively [5] Group 4: Hansang Technology Overview - Hansang Technology has not yet announced its issue price, with a single account subscription limit of 7,500 shares [7] - The company provides high-end audio products and comprehensive technology solutions, focusing on R&D, design, and manufacturing [7] - Hansang Technology has over 20 years of experience in audio product design and has established partnerships with numerous well-known audio brands [7] - Projected revenues for 2022 to 2024 are 1.386 billion CNY, 1.031 billion CNY, and 1.454 billion CNY, with net profits of 190 million CNY, 136 million CNY, and 254 million CNY respectively [8]