Core Viewpoint - Four companies, including Pengfulong, Zhongxin Jingyuan, Tengmao Technology, and Frank Technology, have recently filed for IPO guidance, indicating a renewed interest in public offerings in the semiconductor and materials sectors [1][5][10]. Group 1: Pengfulong Technology - Pengfulong has initiated its third attempt at an IPO, with a plan to complete the listing guidance by April to May 2026, supported by Guotai Junan Securities [3][4]. - The company, established in May 2006, focuses on special polymers and related applications, with a registered capital of 5.032 billion yuan [4]. - Pengfulong's revenue from 2019 to the first half of 2022 showed a steady increase, reaching 3.41 billion yuan in 2021, but it faced challenges in its previous IPO attempts [5]. Group 2: Zhongxin Jingyuan Semiconductor - Zhongxin Jingyuan has filed for IPO guidance with plans to issue shares on the Beijing Stock Exchange, having previously attempted to list on the Sci-Tech Innovation Board [5][8]. - Founded in September 2017, the company specializes in semiconductor silicon wafers, with a registered capital of 5.032 billion yuan [6]. - Despite reporting losses in 2023 and 2024, the company anticipates a revenue of 1.335 billion yuan in 2023, with a 7% year-on-year growth expected in 2024 [8]. Group 3: Tengmao Technology - Tengmao Technology has re-engaged in the IPO process, filing for guidance with Western Securities after previously withdrawing its application [10]. - Established in July 2007, the company focuses on refining catalysts, with a production capacity of 40,000 tons per year for catalysts and 15,000 tons for molecular sieves [10]. - In 2024, Tengmao reported a revenue of 247 million yuan, with a net profit of 52.97 million yuan, and a strong growth of 40.22% in revenue for the first half of 2025 [11]. Group 4: Frank Technology - Frank Technology has submitted its IPO guidance application to the Shenzhen Securities Regulatory Bureau, aiming for a listing on the Beijing Stock Exchange [12]. - Founded in April 2001, the company specializes in metal and new material processing fluids, with a registered capital of 164 million yuan [13]. - The company achieved a revenue of 840.3 million yuan in 2024, with a significant net profit increase of 99.3% in the first half of 2025 [13].

瑞财经 吴文婷10月10日，山西腾茂科技股份有限公司（以下简称"腾茂科技"）启动北交所IPO辅导。 | 辅导协议签署时间 | 2025 年 9 月 24 日 | | --- | --- | | 辅导机构 | 西部证券股份有限公司 | | 律师事务所 | 北京市康达律师事务所 | | 会计师事务所 | 中汇会计师事务所(特殊普通合伙) | 腾茂科技的主营业务为催化裂化催化剂、助剂和分子筛的研发、生产与销售。公司属于炼油催化剂行业。 2025上半年，腾茂科技实现营收为1.41亿元，同比增长40.22%；归母净利润为3369.8万元，同比增长48.76%。 | | | | 单位:元 | | --- | --- | --- | --- | | 盈利能力 | 本期 | 上年同期 | 增减比例% | | 营业收入 | 140,617,109.54 | 100,280,878.39 | 40.22% | | 毛利率% | 33.25% | 34.31% - | | | 归属于挂牌公司股东的净利润 | 33,698,015.03 | 22,651,869.65 | 48.76% | | 归属于挂牌公司股东的扣除非经 | 33 ...

瑞财经 吴文婷10月10日，山西腾茂科技股份有限公司（以下简称"腾茂科技"）启动北交所IPO辅导。 | 代码 | 873789 | | | --- | --- | --- | | 公司全称 | 山西腾茂科技股份有限公司 | | | 审核状态 | 终止 | | | 保存机构 | 中德证券有限责任公司 | B | | 会计师事务所 | 信永中和会计师事务所(特殊普通合伙) | 플 | | 律师事务所 | 北京市康达律师事务所 | | | 评估机构 | | 名 | 问询函中显示，根据申请文件，2020年、2021年，关联方晨浩化工均为公司第一大供应商。公司向其采购金额分别为4,286.41万元、3,872.76万元、2,201.20 万元、453.24万元，占营业成本比重分别为28.93%、26.92%、11.83%、4.75%，主要为采购铝溶胶和特种硅酸钠。2022年，公司改变了与晨浩化工的合作模 式，由采购成品改为委托加工方式。晨浩化工的产品几乎全部销售给公司。 本次IPO的辅导机构为西部证券股份有限公司，律师事务所为北京市康达律师事务所，会计师事务所为中汇会计师事务所(特殊普通合伙) 。 腾茂科技的主营业务为 ...

Industry Overview - The refining catalyst plays a crucial role in the crude oil manufacturing industry, significantly contributing to the improvement of China's base oil industrial production level [1][4] - China's refining capacity has rapidly increased in recent years, driven by rising consumption levels and expanding crude oil processing volumes, leading to a strong demand for petroleum refining catalysts [1][4] Market Demand and Growth - The demand for refining catalysts in China is projected to reach 251,000 tons in 2024, with a market size of 22.963 billion yuan; it is expected to grow to 257,000 tons and 23.446 billion yuan in 2025 [1][4] - From 2017 to 2023, China's refining catalyst production increased from 209,000 tons to 299,000 tons, with a forecast of 294,000 tons in 2024 and a breakthrough of 300,000 tons in 2025 [1][4] Industry Chain - The upstream of the refining catalyst industry includes precious metals like platinum, palladium, and rhodium, as well as metal oxides such as alumina and silica, along with raw materials like molecular sieves and rare earths [5] - The midstream focuses on the research and production of refining catalysts, while the downstream applications are primarily in petroleum refining, chemical raw material production, energy and transportation, and environmental governance [5] Competitive Landscape - The global refining catalyst market is mainly dominated by companies such as CraceDavison, Albemarle, and Engelhard, while China's refining catalyst sector has developed unique advanced technologies and mature production systems [6] - Major players in China's refining catalyst market include China Petroleum and China Petrochemical, with state-owned enterprises holding a dominant position due to stable customer resources and strong brand influence [6][7] Development Trends - The refining industry is moving towards high efficiency, cleanliness, and flexibility, with a focus on reducing pollution and producing cleaner products, necessitating advancements in refining catalyst technology [6][8] - China has made significant progress in refining catalyst technology, with many new processes being introduced to the international market, although there are still gaps in producing new formula gasoline and catalytic processes [6][8]