Core Viewpoint - Tongling Tianhai Fluid Control Co., Ltd. has completed its IPO guidance filing with the Anhui Securities Regulatory Bureau and plans to list on the Beijing Stock Exchange, with Shenwan Hongyuan Securities as the advisory institution [1] Company Overview - Established in 2012, the company has a registered capital of 91.26 million yuan and specializes in the research, production, and sales of water system equipment such as valves, pumps, and fittings, as well as testing and services for fluid control equipment [1][5] - The actual controller of the company is Zhao Min, who controls 67.21% of the shares through Tongling Zhengda Investment Management Co., Ltd. and serves as the chairman [1][5] Historical Context - The company previously submitted an IPO application to the Beijing Stock Exchange in December 2023, which was not accepted due to unclear handling opinions on shareholding matters at the time of application [4][5] - In April 2024, the National Equities Exchange and Quotations issued a disciplinary decision against the company and its related parties, including Zhao Min, for public reprimand due to issues related to shareholding representation [5][6] Financial Performance - In 2024, the company achieved an operating income of 287 million yuan, representing a year-on-year growth of 13.32% - The net profit attributable to the parent company was 46.97 million yuan, reflecting a year-on-year increase of 2.42% - The net cash flow from operating activities increased by 283.60% compared to the previous year [6]