Core Viewpoint - The article discusses the IPO of Dongjianke, highlighting its business focus on inspection and testing in the construction engineering sector, along with its financial performance and market expansion plans [2][3]. Group 1: Company Overview - Dongjianke is listed on the ChiNext board with a stock code of 301632 and an issue price of 6.56 yuan at the upper limit [2]. - The total market capitalization of the company is 2.059 billion yuan [2]. - The company has a dynamic price-to-earnings (P/E) ratio of 26.48, compared to its industry peers [2]. Group 2: Business Composition - The main business of Dongjianke is focused on inspection and testing technology in the construction engineering field, accounting for 98.70% of its revenue, with other services making up 1.30% [2]. - The company is expanding its operations beyond its home province, with ongoing performance improvements in several provinces including Jiangxi, Hubei, Jiangsu, Gansu, and Sichuan [3]. Group 3: Financial Performance - Over the past three years, the company has reported a net profit of 1.197 billion yuan in 2024, reflecting a growth of 3.72% [3]. - The revenue for 2023 was 1.154 billion yuan, showing an increase of 7.67%, while the revenue for 2022 was 1.072 billion yuan, which represented a decline of 7.07% [3]. Group 4: Fundraising and Future Plans - The funds raised from the IPO will be directed towards the establishment of an innovative technology research institute headquarters and enhancement of testing and marketing services [3].

Core Viewpoint - The company reported strong financial performance in the first half of 2025, with significant growth in net profit and revenue, particularly in the integrated circuit testing segment, indicating a positive outlook for future growth driven by industry demand and capacity expansion [2][4]. Financial Performance - In the first half of 2025, the company achieved total revenue of 990 million, a year-on-year increase of 8%, and a net profit attributable to shareholders of 120 million, up 14% year-on-year [2]. - In Q2 alone, the company recorded revenue of 560 million, representing an 18% year-on-year growth, and a net profit of 70 million, which is a 26% increase year-on-year [2]. - The gross profit margin for the first half of 2025 was 41.9%, a decrease of 3.2 percentage points year-on-year, while the net profit margin was 13.5%, an increase of 0.3 percentage points year-on-year [3]. Segment Performance - Revenue from environmental testing services reached 490 million, growing 6% year-on-year, while revenue from environmental testing equipment also grew 6% to 310 million [2]. - The integrated circuit testing segment saw revenue of 160 million, marking a 21% year-on-year increase [2]. - Gross profit margins by segment were as follows: environmental testing services at 55.0% (down 0.8 percentage points), environmental testing equipment at 26.6% (down 4.7 percentage points), and integrated circuit testing at 36.5% (down 6.4 percentage points) [3]. Industry Outlook - The company is well-positioned in the high-barrier testing sector, with a focus on special industries, semiconductors, and new energy vehicles, while also expanding into high-end fields like 5G [4]. - The overall testing and inspection industry in China is projected to reach approximately 470 billion in revenue for 2023, with a year-on-year growth exceeding 9%, indicating a broad market opportunity [4]. - Future growth is expected to be driven by the recovery of special industry demand, domestic chip production, and the release of capacity from newly expanded laboratories in Suzhou, Xi'an, Qingdao, and Chengdu [4].

Core Viewpoint - Guangdong JianKe is launching an IPO with a subscription price of 6.56 yuan per share, which is lower than the industry average P/E ratio, indicating a potential investment opportunity [1] Company Overview - Guangdong JianKe focuses on inspection and testing technology services in the construction engineering sector, covering various areas such as municipal, transportation, water conservancy, energy conservation, environmental protection, and safety production [1] - The company has undertaken significant projects including the Hong Kong-Zhuhai-Macao Bridge and Guangzhou Baiyun International Airport [1] Financial Performance - Revenue for 2022, 2023, and projected 2024 is approximately 1.072 billion, 1.154 billion, and 1.197 billion yuan respectively, with inspection and testing services accounting for over 98% of total revenue [2] - Net profit for the same years is reported as 102 million, 98 million, and 105 million yuan, with a gross margin of 48.44%, 47.72%, and 48.44% respectively [2] - The decline in net profit in 2023 is attributed to increased credit and asset impairment losses, along with a slight decrease in gross margin [2] Key Financial Data - For 2024, the projected operating income is 119.74 million, with net profit expected to be 105.47 million [3] - In Q1 2025, the company reported an operating income of 20.23 million, showing a slight increase, but a net loss of 14.29 million, reflecting a 34.32% decline year-on-year [5] Risks - The company faces risks related to revenue concentration in Guangdong, with over 97.45% of revenue coming from this region, which may increase competition and impact growth [6] - There are concerns regarding accounts receivable and contract assets, with significant amounts at risk due to the slowdown in the real estate sector and long settlement cycles for large projects [6] Fundraising and Investment Plans - The IPO aims to raise 480 million yuan, which will be allocated to the construction of an innovation technology research institute and the establishment of a testing and marketing service network [7]

Company Overview - Guangdong Jianke (301632) is engaged in inspection and testing technology services in the construction engineering sector, with an issuance price of 6.56 and an issuance scale of 687 million yuan [1][8] - The company has a low customer concentration, with the top five customers accounting for 11.46%, 11.02%, and 12.99% of total revenue in the reporting periods [4] Financial Performance - Revenue for 2024 is projected at 1.197 billion yuan, reflecting a year-on-year increase of 3.72%, following revenues of 1.154 billion yuan in 2023 and 1.072 billion yuan in 2022 [7] - Net profit for 2024 is expected to grow by 13.44% year-on-year, with figures of 154 million yuan in 2021, 103 million yuan in 2022, and 107 million yuan in 2023 [7][8] - The gross profit margin for 2024 is 48.28%, while the net profit margin is 8.81% [7] Market Outlook - The quality inspection and testing market in China is expected to exceed 500 billion yuan by 2025, with a year-on-year growth of 18.7%, and reach 1.2 trillion yuan by 2030, with a compound annual growth rate of 19.1% [8] - The company anticipates revenue of 540 to 560 million yuan in the first half of 2025, representing a year-on-year increase of 3.26% to 7.09% [8] Fundraising and Use of Proceeds - The company originally planned to issue 10.466 million shares to raise approximately 481 million yuan, primarily for the construction of an innovation technology research headquarters and a testing and marketing service network [8] - The actual fundraising amount is approximately 687 million yuan, exceeding the original plan by about 43% [8] Competitive Landscape - Comparable companies in the industry include Guojian Group, Lezhi Group, Jianyan Institute, and Jianke Institute [5]

Financial Performance - The company's revenue for the first half of 2025 reached 99,085.24 million yuan, representing a year-on-year growth of 8.09% [2] - Net profit attributable to shareholders was 11,728.42 million yuan, up 14.18% year-on-year [2] - Net profit after deducting non-recurring gains and losses was 11,425.18 million yuan, reflecting a growth of 20.72% [3] Revenue Breakdown by Segment - Revenue from testing equipment was 30,979.98 million yuan, a year-on-year increase of 6.32% [3] - Revenue from environmental and reliability testing services was 48,742.55 million yuan, growing by 5.75% [3] - Revenue from integrated circuit verification and analysis services was 15,485.74 million yuan, with a year-on-year growth of 21.01% [3] Profit Margins - Gross margin for testing equipment was 26.56%, down 4.66% year-on-year [3] - Gross margin for environmental and reliability testing services was 54.95%, a decrease of 0.79% [3] - Gross margin for integrated circuit verification and analysis services was 36.49%, down 6.38% year-on-year [3] Strategic Focus and Market Outlook - The company is committed to focusing on core business areas, driving dual engines of growth, and integrating manufacturing with services [3] - There is an optimistic outlook for the second half of the year, driven by strong demand in the testing equipment and services sectors [4] - The company plans to enhance technical research and expand testing capabilities while implementing cost reduction and efficiency improvement strategies [4] Challenges and Industry Trends - The company faces pressure on profit margins due to intensified market competition and cost pressures from expanded capacity [4] - The testing and inspection industry is experiencing a trend towards specialization, centralization, and scale, with resources concentrating on companies with technical and management advantages [7] - The demand from third-party testing institutions for equipment procurement has slightly increased, while the demand for new energy vehicles has stabilized [8] Capital Expenditure Plans - Capital expenditure is expected to remain stable, focusing on emerging industries such as aerospace, integrated circuits, and intelligent robotics [9] - The company aims to enhance its technical reserve capabilities and expand testing capabilities in the service sector [9]

广东省建筑科学研究院集团股份有限公司 首次公开发行股票并在创业板上市 投资风险特别公告 保荐人（主承销商） ：招商证券股份有限公司 特别提示 广东省建筑科学研究院集团股份有限公司（以下简称"广东建科"、"发行人" 或"公司"）首次公开发行人民币普通股（A 股）并在创业板上市（以下简称"本 次发行"）的申请已经深圳证券交易所（以下简称"深交所"）上市委会议审议通 过，并已经中国证券监督管理委员会（以下简称"中国证监会"）予以注册决定 （证监许可〔2025〕1275 号）。 经发行人和本次发行的保荐人（主承销商）招商证券股份有限公司（以下简 称"招商证券"、"保荐人（主承销商）"或"主承销商"）协商确定本次发行股份数 量 10,466 万股，约占发行后总股本的 25.00%，全部为公开发行新股。发行人股 东不进行老股转让。本次发行的股票拟在深交所创业板上市。 本次发行价格 6.56 元/股对应的发行人 2024 年扣除非经常性损益前后孰低 的归属于母公司股东的净利润摊薄后市盈率为 26.48 倍，低于中证指数有限公司 亦低于同行业可比上市公司 2024 年扣除非经常性损益前后孰低归属于母公司股 东净利润的静态市盈 ...

长江证券承销保荐有限公司 关于西安西测测试技术股份有限公司 调整部分募投项目内部结构及实施地点的核查意见 长江证券承销保荐有限公司（以下简称"长江保荐"或"保荐机构"）作为西安 西测测试技术股份有限公司（以下简称"西测测试"或"公司"）首次公开发行股票 并在创业板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证 券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号 ——创业板上市公司规范运作》《上市公司监管指引第 2 号——上市公司募集资 《深圳证券交易所上市公司自律监管指引第 13 号—— 金管理和使用的监管要求》 保荐业务》等相关法律、法规和规范性文件的规定，对西测测试调整部分募投项 目内部结构及实施地点的事项进行了审慎核查，核查情况及意见如下： 一、募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"） 《关于同意西安西测 （证监许可【2022】748 号） 测试技术股份有限公司首次公开发行股票注册的批复》 为规范公司募集资金管理，保护投资者权益，公司及公司控股子公司与保荐 人、募集资金专户开户银行签署了《募集资金三方/四方监管协议》，开设了募集 资金专项 ...

近日，省市场监管局批准辽宁省药品检验检测院、中国机械总院集团沈阳铸造研究所有限公司、中 铁检验认证（大连）机车检验站有限公司分别筹建省特色林下经济产品质量检验检测中心、省智能制造 装备零部件质量检验检测中心、省现代轨道交通产品质量检验检测中心。 筹建三个省级质检中心，旨在全面提升我省检验检测服务供给水平，充分发挥省级质检中心的检验 检测技术公共服务平台作用，服务发展新质生产力，为经济社会发展提供更加有力的技术支撑。 省特色林下经济产品质量检验检测中心将以检验检测技术赋能林业发展，推进林产品初加工和精深 加工，延伸产业链、提升价值链，促进林业增效、农民增收。省智能制造装备零部件质量检验检测中心 将推动改造提升传统产业、培育壮大新兴产业、布局建设未来产业有机结合，助力传统制造业数字化、 智能化转型，以现代数智检验检测技术重塑传统制造业优势。省现代轨道交通产品质量检验检测中心将 充分发挥检验检测技术引领和支撑作用，加快技术创新与产业化应用，打破国外技术垄断，聚焦破解高 铁动车组技术难题，实现关键核心技术自主可控。 ...

Group 1 - The company, Lihong Testing (01586.HK), announced that the blackout period for its unaudited financial results for the six months ending June 30, 2025, will commence on July 29, 2025 [1] - During the blackout period, the company will suspend its share repurchase program until the mid-year results for 2025 are published [1]

Group 1 - The Guangxi Zhuang Autonomous Region Market Supervision Administration is implementing national strategies to enhance the Free Trade Zone (FTZ) by focusing on deepening reforms and expanding openness [1] - The administration is innovating the business registration confirmation system, transitioning from subjective licensing to objective confirmation, and establishing a credit-based regulatory framework [1] - The market access commitment system is being piloted, significantly reducing approval time by 80% and processing steps by 50% [1] Group 2 - The construction of the China-ASEAN port inspection and testing system is accelerating, aiming to enhance the efficiency and capability of import and export inspections [2] - The establishment of a standardization cooperation center with ASEAN countries is ongoing, with over 28 million quality service interactions provided to foreign trade enterprises [2] - Collaboration with Hong Kong's STC is supporting the quality improvement of Guangxi products, resulting in over 1,050 enterprises obtaining high-end quality certification [2] Group 3 - International and bilateral standardization cooperation is being strengthened, particularly in key industries like rail transportation and new energy vehicles [3] - A cross-border express logistics standardization cooperation memorandum has been signed with Vietnamese enterprises, focusing on developing bilingual logistics standards [3] - The first national railway standard in Laos has been developed in collaboration with Chinese institutions, marking a significant milestone in standardization efforts [3]