Core Viewpoint - The article highlights the impressive performance of new stocks listed on the Beijing Stock Exchange (BSE) this year, with an average first-day increase of 326% [1][4]. Group 1: New Stock Performance - In the week of August 18-22, there was one new stock subscription in the A-share market, specifically for Balanshi, which will open for subscription on Tuesday [2]. - Balanshi's issue price is set at 15.78 yuan per share, with a single account subscription limit of 902,500 shares. The company is a leader in automotive maintenance and repair equipment [3]. - Since the beginning of the year, nine new stocks have been listed on the BSE, all showing strong first-day performances, with notable increases from companies like Dingjia Precision (479.12%), Guangxin Technology (500%), and Tiangong Co. (411.93%) [4]. Group 2: Company Overview - Balanshi specializes in the research, production, and sales of automotive maintenance, testing, and repair equipment, including tire changers, balancing machines, and lifting equipment. It is recognized as a high-tech enterprise and has a significant market presence in China [3][4]. - The company has achieved revenues of 643 million yuan, 794 million yuan, and 1.057 billion yuan for the years 2022, 2023, and 2024, respectively, with net profits of 30 million yuan, 81 million yuan, and 129 million yuan [4]. - Balanshi's products are sold across China and exported to over 100 countries, serving well-known clients such as BYD, Ideal Auto, and Great Wall Motors [3][4].

Core Viewpoint - Zhigao Machinery (920101.BJ) has initiated its subscription on August 5, with an issue price of 17.41 CNY per share and a maximum subscription limit of 1,020,300 shares, reflecting a price-to-earnings ratio of 14.50 times, and is listed on the Beijing Stock Exchange, with Dongfang Securities as its sponsor [1] Company Overview - Zhigao Machinery is a high-tech enterprise specializing in the research, production, sales, and service of rock drilling equipment and air compressors, recognized as one of the fourth batch of "specialized and innovative" small giant enterprises by the state [1] - The company focuses on providing energy-saving, environmentally friendly, safe, and efficient drilling and screw compressor products, offering comprehensive solutions for rock drilling engineering and air power, with applications in mining, construction, equipment manufacturing, and petrochemical industries [1] Product and Technology - The company has established a comprehensive product R&D system, possessing core technologies with independent intellectual property rights and has achieved various technological results, with multiple models of drilling rigs and screw compressors recognized as provincial industrial new products [1] - The ZGYX-6500 full hydraulic open-pit rock drilling rig has been recognized as the first (set) product in key areas of equipment manufacturing in Zhejiang Province and included in the National Torch Program by the Ministry of Science and Technology [1] - Zhigao Machinery is one of the few domestic manufacturers with independent production capabilities for core components of both underground drilling rigs and screw compressors, and has participated in international market competition [1] Manufacturing and Standards - The company possesses high-end manufacturing capabilities and a complete production system, recognized as an advanced manufacturing base in Zhejiang Province, with large-scale production capacity [2] - It is one of the drafting units for industry standards of crawler-type open-pit drilling rigs, tire-type hydraulic excavation drilling rigs, and crawler-type integrated down-the-hole drilling rigs, and is a member of the China General Machinery Industry Association [2] - The company has extensive design and development experience in drilling rigs and screw compressors, with over 400 product models developed, forming a complete series of products including integrated drilling rigs, split drilling rigs, engineering screw compressors, and industrial screw compressors [2] Financial Performance - In terms of financial performance, the company achieved operating revenues of approximately 795 million CNY, 840 million CNY, and 888 million CNY for the years 2022, 2023, and 2024 respectively, with net profits of approximately 88.99 million CNY, 104 million CNY, and 105 million CNY for the same periods [2] - The total assets as of December 31 for 2022, 2023, and 2024 were approximately 851 million CNY, 898 million CNY, and 905 million CNY respectively, with total equity of approximately 419 million CNY, 463 million CNY, and 569 million CNY [3] - The company's asset-liability ratio decreased from 34.72% in 2022 to 32.03% in 2024, indicating improved financial stability [3]

Group 1: Market Activity - The recent new stock market has seen increased activity, with two new stocks averaging a first-day increase of 449% [1] - Han Gao Group surged 418.47% on its debut, with a peak increase nearing 600%, yielding approximately 32,000 yuan per subscription [1] - Ding Jia Precision also performed well, rising 479.12% on its first day [1] Group 2: Upcoming IPO - Next week, there will be one new stock available for subscription on the Beijing Stock Exchange, specifically Zhigao Machinery, which specializes in air compressors and rock drilling equipment [1][2] - Zhigao Machinery's products include over 400 types of drilling rigs and screw compressors, widely used in key national projects such as the Zhengwan High-speed Railway and the Sichuan-Tibet Railway [1] Group 3: Company Overview - Zhigao Machinery is recognized as a high-tech enterprise and one of the fourth batch of specialized and innovative "little giant" companies in China [2] - The company focuses on providing energy-saving, environmentally friendly, safe, and efficient drilling and screw compressor products [2] Group 4: Fundraising Projects - The fundraising projects include the construction of a production line for 300 intelligent drilling rigs, which will expand the company's capacity and meet growing business demands [3] - The establishment of an engineering technology research center will enhance the company's technological reserves and align with high-end manufacturing trends [3] - A project for supplementing working capital will support the company's daily operational needs [3] Group 5: Financial Projections - Zhigao Machinery expects to achieve a net profit of between 80.959 million yuan and 89.481 million yuan in the first three quarters of 2025, representing a year-on-year growth of 11.50% to 23.23% [4]

Core Viewpoint - Zhejiang Zhigao Machinery Co., Ltd. is preparing for an IPO on the Beijing Stock Exchange, aiming to raise 395 million yuan, with a focus on its drilling and screw machinery products used in various industries [1][2]. Company Overview - The company was established in August 2003 and transformed into a joint-stock company in September 2015, with a registered capital of approximately 64.44 million yuan [2]. - The controlling shareholder is Quzhou Zhigao Tunneling Holdings Co., Ltd., holding 45.90% of the shares, while the actual controller, Mr. Xie Cun, holds 18.08% directly and 55.62% in total [2]. Product and Market Position - The main products include drilling machines and screw machines, which are widely used in mining, infrastructure, and real estate construction [3]. - The company is recognized as a high-tech enterprise and one of the "specialized and innovative" small giants in China [3]. - The revenue contribution from drilling and engineering screw machines is significant, accounting for 75.90%, 80.06%, and 80.30% of the main business income over the past three years [3]. Financial Performance - The company reported revenues of 79.504 million yuan, 84.037 million yuan, and 88.844 million yuan for the years 2022, 2023, and 2024, respectively, with a net profit of 6.261 million yuan, 8.700 million yuan, and 10.316 million yuan [6]. - The net cash flow from operating activities exceeded the net profit each year [6]. - The asset-liability ratio improved from 45.09% in 2023 to 32.03% in 2024 [7]. Sales and Distribution - The company employs a sales model primarily based on distributors, with distributor revenue accounting for 79.23%, 79.62%, and 79.94% over the past three years [5]. - The number of distributors has decreased from 353 to 345, while distributor revenue has increased from 62.235 million yuan to 70.403 million yuan [5]. Export Performance - Export revenue has been a key driver of growth, with figures of 10.058 million yuan, 18.876 million yuan, and 22.736 million yuan for the years 2022, 2023, and 2024, respectively, representing 12.80%, 23.37%, and 25.82% of total revenue [10]. - Russia is the primary export market, contributing 77.91% of export revenue in 2024, up from 72.70% in 2022 [11][10]. Major Clients - The largest client, OOO AltaiBurMash from Russia, has consistently increased its contribution to the company's revenue, accounting for 20.11% in 2024 [13][14]. - China Railway, previously a significant client, fell out of the top five in 2024 but remains the largest debtor, with accounts receivable making up 35.57% of total receivables [16].