Core Viewpoint - The company, Tongling Jingda Special Electromagnetic Wire Co., Ltd., is planning to issue convertible bonds to unspecified investors, which requires legal opinions to ensure compliance with relevant laws and regulations [1][2][3]. Group 1: Issuance Details - The company has obtained necessary internal approvals for the issuance of convertible bonds, including various resolutions related to the issuance plan and the use of raised funds [6][7][8]. - The total amount to be raised from the issuance is not exceeding 1.12622 billion yuan, which will be used for several projects including a 40,000-ton new energy copper-based electromagnetic wire project and an 80,000-ton new energy copper material project [12][16]. Group 2: Legal Compliance - The issuance complies with the Company Law and Securities Law, with the company having a sound organizational structure and fulfilling its obligations [10][11][14]. - The company has confirmed that the raised funds will not be used for loss compensation or non-productive expenditures, adhering to national industrial policies [16][17]. Group 3: Company Background - The company is a legally established joint-stock limited company with its shares publicly traded on the Shanghai Stock Exchange since September 11, 2002 [10][19]. - The company has maintained continuous profitability over the past three years, indicating a stable operational status [25]. Group 4: Shareholder Structure - As of the reporting period, the major shareholders include Huazhong Insurance and Qiao Xiaohui, with no single shareholder holding more than 50% of the shares, ensuring no dominant control [22][23]. - The actual controller, Li Guangrong, holds a total of 9.28% of the shares through various entities, maintaining a diversified ownership structure [22][24]. Group 5: Independence and Operations - The company operates independently from its major shareholders and has a complete production and sales system, ensuring operational autonomy [19][20]. - The company has not faced any significant legal or regulatory issues, and its business activities align with national industrial policies [25].

Group 1: Companies Submitting IPO Counseling Reports - Tianjin Aisida Aerospace Technology Co., Ltd. submitted an IPO counseling report to Tianjin Securities Regulatory Bureau on June 16, aiming to list on the Shanghai Stock Exchange's Sci-Tech Innovation Board [3][4] - Wuhan Zhongke Innovation Technology Co., Ltd. submitted an IPO counseling report to Hubei Securities Regulatory Bureau on June 17, also targeting the Shanghai Stock Exchange's Sci-Tech Innovation Board [6][7] - Suzhou Xinnowei Pharmaceutical Technology Co., Ltd. submitted an IPO counseling report to Jiangsu Securities Regulatory Bureau on June 17, with no specific listing board determined yet [11][12] Group 2: Companies Passing IPO Counseling Acceptance - Xinqiang Electronics (Qingyuan) Co., Ltd. passed the counseling acceptance on June 17, specializing in the research, production, and sales of printed circuit boards [15][16] - Guangdong Kueri Sui Numerical Control Technology Co., Ltd. passed the counseling acceptance on June 17, focusing on the production and sales of CNC machine tools [17] - Maitian Energy Co., Ltd. passed the counseling acceptance on June 18, engaged in the research, production, and sales of solar inverters and energy storage systems [18][19] - Moer Thread Intelligent Technology (Beijing) Co., Ltd. passed the counseling acceptance on June 18, specializing in GPU chip design [20] - Hangzhou Yijia 3D Additive Technology Co., Ltd. passed the counseling acceptance on June 18, focusing on industrial-grade 3D printing equipment [22] Group 3: Company Financing Activities - Aisida has completed 10 financing rounds since its first angel round in 2018, with notable investors including Zhongxin Rongchuang and Lushi Investment [4] - Zhongke Innovation has a large customer base including major companies like Xi'an Aerospace and BYD [9][10] - Xinnowei has raised funds through 8 financing rounds since its first Pre-A round in 2017, with investors including Tencent and various venture capital firms [11][12] - Kueri Sui has completed 8 financing rounds since its angel round in 2016, with investors including Lichong Investment and Dinghui Baifu [17] - Maitian Energy has secured 3 rounds of financing since its establishment in 2019, with the latest round exceeding 1 billion yuan [18][19] - Moer Thread has received 7 rounds of financing, with notable investors including Sequoia China and Tencent [20]

文/梧桐数据中心 6月23日至6月24日，深、北交易所又新受理了19家IPO。其中深交所主板新受理1家：福恩股份，创业板新受理4家：贝特利、联亚药业、欣兴 工具、高特电子；北交所新受理14家：南方乳业、中健康桥、康美特、海昌智能、德硕科技、弥富科技、新纳科技、中德科技、斯瑞达、北 方实验、欧伦电气、广泰真空、天康制药、传美讯。 截至6月24日，2025年沪、深、北三大交易所共受理了80家IPO项目，其中上交所受理了14家、深交所受理了17家、北交所受理了49家。 一、杭州福恩股份有限公司深主板IPO，6月24日获受理 公司前身有限公司成立于1997年1月22日，2023年9月1日整体变更为股份公司。公司目前注册资本17,500万元。 （一）主营业务 公司是一家以可持续发展为核心的全球生态环保面料供应商，以生态环保面料的研发、生产和销售作为主营业务。公司的主要产品为生态环 保面料，以再生面料为主。 （二）控股股东、实际控制人 湃亚控股持有公司6,400万股股份，持股比例为36.57%，为公司控股股东。公司的实际控制人为王内利、王学林和王恩伟，王内利、王学林系 夫妻关系，王内利、王恩伟系父女关系。王内利、王学林和 ...

Summary of Key Points Core Viewpoint The Beijing Stock Exchange (BSE) has seen a decrease in trading volume and value over the past week, with a total of 267 listed companies as of June 22, 2025. The market is also witnessing new IPO activities, with several companies undergoing the listing process. Trading Activity - As of June 22, 2025, the BSE has 267 listed companies with a total share capital of 37.428 billion shares and a circulating share capital of 23.926 billion shares [3] - For the week of June 16-22, 2025, the trading volume was 6.437 billion shares, a decrease of 13.58% from the previous week, while the trading value was 144.247 billion yuan, down 11.53% [4][5] - The average trading price was 22.41 yuan, reflecting an increase of 2.37% [5] - The BSE 50 Index fell by 2.55% to 1347.46 points, with 11 stocks rising and 39 falling [5] New IPOs and Listings - During the week of June 16-22, 2025, one company initiated its IPO, two companies passed the listing committee meeting, and ten companies had their listing applications accepted [8][9][25] - As of June 22, 2024, there are 94 companies awaiting review, including 22 accepted, 59 under inquiry, and 10 submitted for registration [8] Company-Specific Highlights - **Guangxin Technology Co., Ltd.**: Initiated its IPO on June 17, 2025, with an issuance price of 10.00 yuan per share, raising 40 million yuan through strategic placement [11] - **Ningbo Nengzhiguang New Materials Technology Co., Ltd.**: Passed the listing committee meeting on June 19, 2025, focusing on high-margin product sales and raw material price impacts [15][16] - **Balan Technology Co., Ltd.**: Approved for listing on June 20, 2025, with a focus on automotive maintenance and testing equipment [20][21] - **Guli Fa Group Co., Ltd.**: Received listing application acceptance on June 17, 2025, aiming to raise 529 million yuan for various projects [27] - **Huada Tong Gas Manufacturing Co., Ltd.**: Accepted for listing on June 17, 2025, with plans to raise 265 million yuan for production expansion [36] Financial Performance - **Guangxin Technology**: Revenue from 2022 to 2024 was 304 million yuan, 420 million yuan, and 578 million yuan, with net profits of 14.72 million yuan, 49.44 million yuan, and 116 million yuan respectively [12] - **Ningbo Nengzhiguang**: Revenue from 2022 to 2024 was 556 million yuan, 569 million yuan, and 611 million yuan, with net profits of 21.86 million yuan, 49.81 million yuan, and 55.94 million yuan respectively [18] - **Balan Technology**: Revenue from 2022 to 2024 was 643 million yuan, 794 million yuan, and 1.057 billion yuan, with net profits of 30.04 million yuan, 80.55 million yuan, and 129 million yuan respectively [23] Market Outlook - The BSE is experiencing a dynamic environment with ongoing IPO activities and fluctuating trading volumes, indicating both opportunities and challenges for investors and companies alike [4][5][8]

Group 1 - *ST Huamei's controlling shareholder will change to Jilin Provincial State-owned Assets Supervision and Administration Commission, with stock resuming trading on June 26, 2025 [3] - *ST Huamei's major shareholder Shanghai Pengsheng plans to transfer 214,326,656 shares (22.32% of total shares) to Yadong Investment to repay occupied funds and interest [3] Group 2 - Nord Shares' revenue from copper foil business applied in solid-state battery field accounts for less than 1% of total revenue, indicating limited contribution to overall performance [4] - The company has launched double-sided nickel-plated copper foil suitable for semi-solid/solid-state battery technology, with materials sent for testing to leading battery companies [4] Group 3 - Tianji Shares' subsidiary has obtained a patent for lithium sulfide materials, which are essential for solid-state battery electrolytes, and is advancing towards industrialization [5] - The project faces risks related to industrialization and commercialization due to macroeconomic and market environment changes [5] Group 4 - Jida Zhengyuan reports normal recent operations with no significant changes in internal and external business environment [6] Group 5 - Yandong Microelectronics has received approval from the China Securities Regulatory Commission for a specific stock issuance, valid for 12 months from the date of approval [7] Group 6 - Yingli Automotive's controlling shareholder plans to reduce its stake by up to 3%, equivalent to no more than 47.57 million shares, within three months after the announcement [9] Group 7 - Hangxiao Steel Structure has signed a cooperation framework agreement for the Hongkan base project, with a compensation standard not exceeding 3 million yuan per mu for land storage [12] - The project will be developed in phases, starting with approximately 250 mu, with further development contingent on initial operational performance [12]

Core Viewpoint - The company, Invt (002334), has announced an adjustment to the maximum repurchase price of its shares following the implementation of an equity distribution plan, reflecting a strategic move to enhance shareholder value through stock buybacks [1] Group 1: Share Repurchase Plan - The maximum repurchase price has been adjusted from RMB 13.8 per share to RMB 13.74 per share, effective from June 24, 2025 [1] - The company plans to use its own funds to repurchase its A-shares through the Shenzhen Stock Exchange, with a total repurchase fund amounting to no less than RMB 60 million and not exceeding RMB 100 million [1] - The implementation period for the share repurchase will not exceed 12 months from the date of approval by the company's shareholders [1] Group 2: Equity Distribution Impact - Due to the implementation of the 2023 equity distribution, the maximum repurchase price has been further adjusted from RMB 8 per share to RMB 7.94 per share, effective from May 23, 2024 [1]

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Core Viewpoint - The controlling shareholder of Tianyin Electromechanical, Lanhai Ruixing, plans to reduce its stake for the first time since taking control six years ago, citing funding needs for business development [1][5]. Group 1: Shareholding Changes - Lanhai Ruixing intends to reduce its holdings by up to 12.75 million shares, representing 3% of the total share capital, with a portion through centralized bidding and the remainder via block trading [1]. - Following a share transfer in 2019, Lanhai Ruixing became the controlling shareholder with a 28.52% stake, while the previous controlling shareholder's stake decreased from 55% to 26.48% [1]. Group 2: Financial Performance - In 2022, Tianyin Electromechanical experienced a significant decline in net profit, down 92.15% year-on-year to 7.82 million yuan, attributed to decreased orders in its refrigerator compressor parts business and delays in project deliveries [3]. - The company reported a recovery in 2023, achieving total revenue of 1.041 billion yuan, a 24.07% increase year-on-year, and a net profit of 32.78 million yuan, up 319.10% [3]. - For 2024, the company expects total revenue of 1.048 billion yuan, a slight increase of 0.63%, and a net profit of 90.41 million yuan, reflecting a growth of 175.80% [3]. Group 3: Business Operations and Strategic Decisions - Tianyin Electromechanical has decided to liquidate its subsidiary, Gongda Leixin, due to operational difficulties, completing the deregistration process by June 20 [4]. - The company is considering share buyback options in response to stock price fluctuations, while management maintains that operational conditions are stable [4]. - The recent share reduction plans by both the controlling shareholder and the general manager are linked to funding needs and market conditions, with no change in control expected post-reduction [5].

Core Viewpoint - Zhejiang Oulun Electric Co., Ltd. has had its IPO application accepted by the Beijing Stock Exchange, with Minsheng Securities as the sponsor [2] Company Overview - Oulun Electric is a comprehensive enterprise engaged in the research, design, manufacturing, sales, and service of environmental regulation equipment, with main products including dehumidifiers, mobile air conditioners, car refrigerators, and air source heat pumps [2] Financial Performance - Revenue projections for Oulun Electric from 2022 to 2024 are as follows: 972 million yuan in 2022, 1.232 billion yuan in 2023, and 1.623 billion yuan in 2024 [2] - Net profit attributable to the parent company is projected to be 92.45 million yuan in 2022, 140 million yuan in 2023, and 208 million yuan in 2024 [2] Key Financial Metrics - Total assets are expected to grow from approximately 870 million yuan in 2022 to about 1.746 billion yuan in 2024 [3] - Shareholder equity is projected to increase from approximately 333 million yuan in 2022 to about 687 million yuan in 2024 [3] - The company’s gross profit margin is expected to rise from 22.24% in 2022 to 27.13% in 2024 [3] - The net profit margin is projected to improve from 9.43% in 2022 to 12.70% in 2024 [3] Ownership Structure - Chen Xianyong directly holds 55.97% of the company’s shares, while Zhan Xiaoying holds 37.31%, making them the actual controllers of the company with a combined ownership of 96.04% [3]

Core Viewpoint - The company has announced a delay in the completion dates for two fundraising investment projects, namely the "NaiXiang Intelligent Electrical Industry Park Construction Project (Phase I)" and the "Research and Development Center Construction Project" [1][2] Group 1: NaiXiang Intelligent Electrical Industry Park Construction Project - The project is planned to use fundraising of 159 million yuan, with a cumulative investment of 116 million yuan as of December 31, 2024, representing a progress rate of 73.23% [1] - Some construction of factory buildings and supporting areas has been completed, but additional construction and equipment installation are still pending [1] - The completion date for the project has been adjusted to June 2026 due to the need for a longer investment construction period [1] Group 2: Research and Development Center Construction Project - The project is intended to use fundraising of 36.9668 million yuan, with a cumulative investment of 19.209 million yuan as of December 31, 2024, indicating a progress rate of 51.96% [2] - The company has optimized and upgraded the original R&D plans to ensure the technological advancement and competitiveness of the R&D outcomes [2] - The completion date for this project has also been adjusted to June 2026 due to the complexity of the revised R&D processes and equipment selection [2]