Group 1 - The Shanghai and Shenzhen Stock Exchanges received one new IPO application last week, marking the second IPO application accepted in the second half of this year [1] - Suzhou Lianxun Instrument Co., Ltd. is the newly accepted company, applying for listing on the Sci-Tech Innovation Board with a proposed financing of 1.954 billion yuan [1] - The company specializes in the research, manufacturing, sales, and service of electronic measurement instruments and semiconductor testing equipment, with projected revenues of 214 million yuan, 276 million yuan, 789 million yuan, and 201 million yuan for the years 2022 to 2025 Q1 [1] Group 2 - The company has indicated risks of declining operating performance due to industry cycles, market fluctuations, and increased costs, which could lead to a potential drop in operating profit exceeding 50% or even losses in extreme cases [2] - Accounts receivable balances at the end of each reporting period were 896.297 million yuan, 1.36 billion yuan, 2.55 billion yuan, and 3.05 billion yuan, representing 41.81%, 49.16%, 32.28%, and 37.95% of the respective revenues [2] Group 3 - Three companies passed the IPO review during the week, including Xi'an Yiswei Material Technology Co., Ltd., which is the first unprofitable company accepted for listing after the release of new policies [3] - Two companies received IPO approval, including Marco Polo Holdings Co., Ltd., which took over two years from application acceptance to receiving the registration approval [3] - One company, Wuxi Sunshine Precision Machinery Co., Ltd., terminated its IPO review, citing high customer concentration and reliance on a single major customer as risks [4]

Core Viewpoint - Wuxi Sunshine Precision Machinery Co., Ltd. is a national-level specialized and innovative "little giant" enterprise engaged in the research, design, production, sales, and maintenance of precision spindle, main roller, arc guide rail, and precision bearing components, with applications in various industrial sectors such as photovoltaics, wind power, automotive, home appliances, and machinery [1][2]. Group 1: Company Overview - The company is recognized as a high-tech enterprise specializing in precision machine tool components and parts [1]. - The controlling shareholder, Yang Jin, holds 30.03 million shares, representing 83.55% of the total shares, while the actual controllers, Yang Jin and Pu Minmin, collectively hold 33 million shares, accounting for 91.81% [2]. Group 2: Financial Data and Performance - The total equity attributable to the parent company is approximately 146.94 million yuan, with a debt-to-asset ratio of 39.92% [9]. - The company's operating revenue for 2024 is projected to be 395.69 million yuan, with a net profit attributable to the parent company after deducting non-recurring gains and losses estimated at 89.10 million yuan [9]. - The gross profit margin for the company is reported at 54.19%, with a net profit margin of 25.35% [9]. Group 3: Fundraising and Investment Plans - The company plans to invest a total of 671.95 million yuan, with 500 million yuan allocated for various projects, including the digital transformation of high-end equipment precision core component production lines and the construction of a research and development center [8][10]. - The fundraising will be fully utilized for the aforementioned projects, which are deemed necessary and reasonable for the company's growth [10]. Group 4: Acquisition and Business Expansion - In May 2023, the company acquired operational assets related to precision bearing production and research from its affiliate, Wuxi Second Bearing Co., Ltd., for 38.32 million yuan, recognizing it as a non-same control business combination [12][18]. - The acquisition is expected to enhance the company's precision bearing business, which accounted for 34.99% of the main business revenue from May to December 2023 [24].

Core Viewpoint - The Beijing Stock Exchange has decided to terminate the review of Wuxi Sunshine Precision Machinery Co., Ltd.'s application for public stock issuance and listing [1][2]. Company Overview - Sunshine Precision Machinery specializes in the research, design, production, sales, and maintenance of precision spindle, main roller, arc guide rail, and precision bearing components [2]. - The controlling shareholders are Yang Jin and Pu Minmin, who together hold 91.81% of the company's shares [2]. Initial Public Offering (IPO) Details - The initial number of shares intended for issuance was up to 8.8 million, with a potential additional 1.32 million shares if the overallotment option was fully exercised, bringing the total to 10.12 million shares [3]. - The company aimed to raise 500 million yuan, which was planned for the construction of a high-end equipment precision core component production base and to supplement working capital [3][4]. Project Investment Breakdown - Total planned investment for the high-end equipment precision core component production base is approximately 671.946 million yuan, with 500 million yuan expected to be raised from the IPO [4]. - Specific projects include: - Digital transformation of the production line with an investment of 400.15586 million yuan, expecting to allocate 300 million yuan from the raised funds [4]. - R&D center construction with an investment of 145.3874 million yuan, expecting to allocate 75 million yuan from the raised funds [4]. - Supplementing working capital with an allocation of 125 million yuan from the raised funds [4].