Core Viewpoint - Zhejiang Oulun Electric Co., Ltd. has entered the inquiry stage for its IPO, aiming to raise 804 million yuan through the issuance of up to 17.87 million shares, with funds allocated for various projects including the production of dehumidifiers and air source heat pumps [1] Group 1: Company Overview - Oulun Electric is a comprehensive enterprise focused on the research, design, manufacturing, sales, and service of environmental regulation equipment, with main products including dehumidifiers, mobile air conditioners, vehicle refrigerators, and air source heat pumps [1][2] - The company emphasizes creating a comfortable air environment and provides overall solutions for humidity regulation, temperature control, air purification, and energy conservation [1][2] Group 2: Innovation and Technology - Oulun Electric drives its development through independent innovation, holding 330 patents and 23 software copyrights, ensuring industry-leading quality and technology [3] - The company has made significant advancements in technology, product, production, and standard innovations, including the revision of the national standard for dehumidifiers [3] Group 3: Manufacturing Capabilities - Oulun Electric has established a 140,000 square meter intelligent production base, with an additional 110,000 square meters under construction, equipped with advanced automation and information management systems [4] - The company has a strict quality control system and has obtained ISO9001 and ISO16949 certifications, enhancing its production efficiency and cost management [4] Group 4: Product Quality and Market Presence - The company prioritizes product quality, achieving multiple international certifications and recognition, including being the official dehumidifier supplier for the Hangzhou 2022 Asian Games [5] - Oulun Electric has a global sales service network, utilizing a combination of in-house sales teams and regional agents to ensure comprehensive market coverage [5] Group 5: Market Position and Future Outlook - In 2024, Oulun Electric is projected to sell 341,500 home dehumidifiers domestically, capturing approximately 22.38% market share, and exporting 1,046,700 units, accounting for 9.56% of China's total exports in this category [6] - The company plans to continue its innovation-driven strategy, focusing on new materials and processes, smart manufacturing upgrades, and expanding its global presence, particularly in emerging product lines like air source heat pumps and vehicle refrigerators [6]

Core Viewpoint - Zhejiang Oulun Electric Co., Ltd. has received the first round of inquiry from the Beijing Stock Exchange, focusing on issues such as corporate governance, financial internal control, sustainability of performance growth, and necessity of fundraising projects [2][5]. Group 1: Company Overview - Oulun Electric is primarily engaged in the research, design, manufacturing, sales, and service of environmental adjustment equipment, with main products including dehumidifiers, mobile air conditioners, vehicle refrigerators, and air source heat pumps [5]. - The company's revenue grew from 972 million yuan in 2022 to 1.623 billion yuan in 2024, while net profit increased from 92 million yuan to 207 million yuan during the same period, indicating a continuous growth trend [5]. Group 2: Related Party Transactions - A foreign company named "BUBLUE," which became Oulun Electric's third-largest customer in 2022, had a transaction amount of 32.2864 million yuan with the company. However, within a year, BUBLUE returned 945 commercial dehumidifiers to Oulun Electric and was subsequently dissolved in 2024 [5]. - The actual controller of BUBLUE, Chen Qian, is the son of Oulun Electric's actual controller, Chen Xianyong. BUBLUE was established in 2021 and faced challenges such as the pandemic and high shipping costs, leading to sales falling short of expectations [5]. Group 3: Financial Compliance Issues - Oulun Electric has been noted for several financial compliance issues, including the use of personal bank accounts for transactions, fund occupation, third-party repayments, accounting errors, and inadequate financial accounting systems. The cumulative amount of third-party repayments over the past three years reached 153 million yuan [6].