IPO Pipeline Overview - As of September 21, there are 279 companies in the IPO pipeline, with 21 on the Shanghai Main Board, 36 on the Sci-Tech Innovation Board, 25 on the Shenzhen Main Board, 27 on the Growth Enterprise Market, and 170 on the Beijing Stock Exchange [1][2]. Newly Listed Companies - Hebei Shichang Automotive Parts Co., Ltd. was listed between September 15 and September 21, closing at 40.50 yuan per share, representing a 271.56% increase, with a trading volume of 641 million yuan and a turnover rate of 87.48% [3]. New Counseling Records - Eight new companies were added to the counseling records from September 15 to September 21, including Beijing Weina Star Technology Co., Ltd. and others, focusing on various sectors such as satellite technology, quantum computing, and environmental equipment [4][5]. Companies Undergoing Review - Yuan Chuang Technology Co., Ltd. and Suzhou New Guangyi Electronics Co., Ltd. successfully passed the review process, while Xiamen Youxun Chip Co., Ltd. had its review results postponed [8][9]. Registration Approval - Three companies received registration approval from September 15 to September 21, including Zhongcheng Zhixin Engineering Consulting Group Co., Ltd., which provides comprehensive consulting services, and Nabaichuan New Energy Co., Ltd., focusing on thermal management for electric vehicle batteries [10]. Terminated Reviews - Four companies, including Hengyang Jinzelite Special Alloy Co., Ltd. and others, withdrew their IPO applications during the same period [11][12][13].

中国经济网北京9月18日讯 北交所网站昨日晚间公布《中国证监会北京证券交易所股票发行注册程 序终止通知书〔2025〕28号》，衡阳市金则利特种合金股份有限公司（以下简称：金则利）北交所股票 发行注册程序终止。 通知书显示，中国证监会在审阅金则利公开发行股票并在北交所上市注册申请文件的过程中，金则 利和保荐机构财信证券股份有限公司分别提交了《关于撤回衡阳市金则利特种合金股份有限公司向不特 定合格投资者公开发行股票并在北京证券交易所上市申请文件的申请》（金则利〔总〕字〔2025〕第2 号）和《财信证券股份有限公司关于撤回衡阳市金则利特种合金股份有限公司向不特定合格投资者公开 发行股票并在北京证券交易所上市申请文件的申请》（财证字〔2025〕82号)，主动要求撤回注册申请 文件。 根据《中国证券监督管理委员会行政许可实施程序规定》第二十一条的规定，中国证监会决定终止 金则利向不特定合格投资者公开发行股票并在北交所上市注册程序。 2024年1月2日披露的招股书注册稿显示，截至招股说明书签署日，公司第一大股东长林工贸持有公 司11,386,082股，持股比例为46.29%，为公司的控股股东。 钟长林与钟晟华父女二人合计 ...

9月10日，上大股份跌0.21%，成交额5999.34万元。两融数据显示，当日上大股份获融资买入额583.71 万元，融资偿还561.36万元，融资净买入22.36万元。截至9月10日，上大股份融资融券余额合计1.56亿 元。 融资方面，上大股份当日融资买入583.71万元。当前融资余额1.56亿元，占流通市值的6.15%。 融券方面，上大股份9月10日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量9100.00股，融券余额30.93万元。 资料显示，中航上大高温合金材料股份有限公司位于河北省清河县挥公大道16号，成立日期2007年8月 23日，上市日期2024年10月16日，公司主营业务涉及高温及高性能合金、高品质特种不锈钢等特种合金 产品的研发、生产和销售。主营业务收入构成为：高温及高性能合金52.58%，高品质特种不锈钢 44.22%，其他产品2.02%，其他(补充)1.17%。 截至8月20日，上大股份股东户数2.78万，较上期减少0.72%；人均流通股2679股，较上期增加0.72%。 2025年1月-6月，上大股份实现营业收入12.11亿元，同比减少6.4 ...

Group 1: Rongke Energy - Rongke Energy has developed the world's first 100 MW large-scale vanadium flow battery energy storage demonstration project, which serves as a technical benchmark in long-duration energy storage [12] - The company has established a comprehensive patent portfolio covering key aspects of the energy storage industry, positioning itself as a leader in the global energy storage technology competition [12][15] - In 2022, Rongke Energy completed a Series A financing round and subsequently raised over 5.48 billion yuan in Series C financing, primarily for capacity expansion and R&D investment [15][16] - The company has built the world's largest vanadium flow battery key materials and equipment manufacturing base, with a projected output value exceeding 1 billion yuan in 2024 [16] - Rongke Energy's vanadium flow battery technology is recognized for its long lifespan of over 25 years and high safety, making it a viable solution for large-scale renewable energy integration [13][17] Group 2: Li'anlong - Li'anlong is a leading global supplier of polymer material aging resistance additives, with a focus on transitioning from industrial additives to health consumer products [19][20] - The company has established a comprehensive logistics and sales network, serving over 100 of the world's top 500 companies [20] - Li'anlong's products are widely used in various sectors, including automotive, coatings, and packaging materials, contributing significantly to its profitability [20][21] - The company has invested over 50 million yuan in automation and digital systems to enhance safety and operational efficiency in its production processes [22][23] - Li'anlong emphasizes green development and has implemented extensive environmental protection measures, ensuring compliance with high environmental standards [25][26] Group 3: Baoma Xingqing - Baoma Xingqing has transformed from a traditional iron alloy producer to a leading supplier of special casting materials, focusing on high-value-added products [36][37] - The company has developed over 100 types of multi-element alloy inoculants, achieving a 30% market share in China's special casting materials sector [39] - Baoma Xingqing has implemented a "waste-to-resource" strategy, recycling industrial waste to create new products, significantly reducing production costs [40][41] - The company has invested in advanced equipment and technology to enhance precision manufacturing and meet customer-specific requirements [42][43] - Baoma Xingqing's revenue increased by 23% year-on-year, demonstrating resilience and adaptability in a competitive market environment [43]

Core Viewpoint - The article highlights the rapid development and transformation of the Shiguai District in Baotou City, focusing on the implementation of major projects and the shift towards a modern industrial system driven by innovation and technology [1][3]. Group 1: Major Projects and Economic Growth - In the first half of 2025, Shiguai District initiated 18 new major projects in addition to the 28 already underway, aiming for industrial upgrades and economic growth [1]. - The wind power equipment manufacturing industry has become a significant contributor to the local economy, with an output value of 7.8 billion yuan, accounting for 37.5% of the region's total [5]. - The manufacturing sector's total output value represents 79.4% of Shiguai District's economy, an increase of 1.9 percentage points from the previous year [5]. Group 2: Technological Innovation and Industry Upgrades - Yaxin Steel invested 2 billion yuan in 13 technological transformation projects, enhancing efficiency and product quality through smart systems [3]. - The introduction of advanced technologies in the special alloy industry is expected to reduce energy consumption by 30% and improve overall efficiency by over 50% [3]. - R&D investment in Shiguai District increased by 190.4% in the first half of the year, with 9 new innovative small and medium-sized enterprises established [3]. Group 3: Emerging Industries and Services - The district is fostering new sectors such as low-altitude and digital economies, with 8 new low-altitude economy enterprises introduced [6]. - The service industry is also expanding, with 180 new service enterprises registered, reflecting a 22.5% year-on-year growth [8]. - The third sector's contribution to the economy rose to 26.9%, an increase of 9.1% compared to the previous year, indicating a shift towards modern service industries [8]. Group 4: Future Development and Strategic Focus - The local government plans to continue optimizing the business environment and focus on enhancing the industrial chain to attract more quality projects [10]. - The successful hosting of events like the China University Cycling Championship is seen as a testament to the district's development and appeal [10].

Core Viewpoint - The company Jinzelite Special Alloy Co., Ltd. is set to hold a shareholders' meeting to discuss the termination of its listing on the Beijing Stock Exchange, following a series of poor financial performances and compliance challenges that have hindered its IPO process [1][4]. Financial Performance - Jinzelite reported its worst annual performance in four years, with a non-GAAP net profit of 22.02 million, a year-on-year decline of 19.51%, failing to meet the listing standard of at least 25 million [3][9]. - The company's return on equity for 2024 was only 7.86%, below the required 8% threshold for listing [3]. - The 2023 annual report indicated a net profit of 29.18 million, marking a three-year low, which subsequently stalled its listing process [3][4]. IPO Process and Challenges - The company initially had a smooth IPO application process, receiving approval from the North Exchange in December 2023, but has faced over a year of stagnation since submitting its registration application in January 2024 [6][7]. - Concerns regarding compliance have arisen, including issues with project approvals and unusual financial transactions with related parties, raising questions about the company's operational integrity [8][9]. Strategic Responses - In response to declining performance and compliance issues, the company has implemented measures to enhance cost control and optimize production processes, although these efforts have shown limited effectiveness [10][11]. - Jinzelite has disclosed some transformation initiatives, including holding nine invention patents and twenty utility model patents, but the authenticity and innovation of these patents are under scrutiny [12]. Market Position and Future Outlook - Despite its technical capabilities in the special alloy sector, the company faces significant challenges that threaten both its short-term performance and long-term growth prospects [12]. - The upcoming shareholders' meeting will be crucial in determining the company's path forward, as it grapples with the decision to continue pursuing its IPO or to reconsider its strategy in light of ongoing issues [12].