Core Viewpoint - Hongxing Technology has voluntarily withdrawn its IPO application after 941 days of progress, indicating a strategic choice to align with the evolving capital market environment rather than due to operational risks [2][3][4] Policy Evolution and Company Development - The withdrawal of the IPO application is fundamentally a mismatch between the main board's positioning and the company's development stage, not related to operational risks [3] - Since the submission of the IPO application on March 3, 2023, the company has navigated through the approval process, but the changing capital market rules necessitated a reassessment of its listing strategy [4][5] Financial Metrics and Market Position - When the IPO application was initiated in December 2022, the company's financial indicators met the Shanghai Stock Exchange's requirements; however, subsequent changes in listing criteria have created a misalignment [4] - The company’s global market share in quartz crystal oscillators reached 3.08% in 2023, ranking ninth globally, but its revenue and profit levels have not yet met the expectations for "large-cap blue-chip" companies on the main board [5] Industry Trends and Company Performance - The quartz crystal oscillator industry is experiencing a cyclical downturn due to external pressures, with global smartphone shipments declining by 3.2% in 2023, marking a ten-year low [6][7] - Despite short-term performance fluctuations, the industry and the company are entering a recovery phase, with the global quartz crystal market projected to reach $3.652 billion in 2024, a year-on-year increase of 12.33% [7] Strategic Focus and Future Outlook - The company is expanding into emerging markets such as artificial intelligence, optical communication, and automotive electronics, which are expected to drive future growth [8] - The company has clarified that its recent legal issues and dividend policies are unrelated to the IPO withdrawal, emphasizing a stable shareholding structure and a reasonable approach to dividends [9] Capital Pathway and Business Strategy - The withdrawal of the IPO application is viewed as a new starting point for the company to focus on its core business and adjust its capital strategy [10] - The company plans to continue investing in R&D and talent acquisition while monitoring market conditions to identify the right timing for future capital market initiatives [10]

QYResearch的观点和数据因被众多国内外知名企业、证券公司及媒体频繁引用与转载，而享有高度的 品牌知名度。其权威认证确保了所提供的行业分析及定制报告的可信度与专业度，是业界信赖的优选。 0 1 恒州博智的LED照明报告被深圳民爆光电公司中的年报引用 民爆光电（301362）2024年度管理层讨论与分析 据恒州博智发布的《2023年中国LED照明行业全景图谱》显示，2023年，全球LED防爆照明市场销售额达到 了49亿元，并预测在2028年将达到79亿元，期间的复合年增长率（CAGR）约为7.8%。这一增长可归因于 LED防爆灯在石油和采矿、军事基地、机场以及其他商业和工业领域的广泛应用，这些领域对于安全照明有着 极高的要求。 来源：证券之星 更多：https://stock.stockstar.com/RB2025040100020605.shtml 最新报告推荐：2025年全球及中国极端温度LED照明企业出海开展业务规划及策略研究报告 0 2 深圳思创策划咨询有限公司引用了恒州博智出版的外墙翻新服务市场分析报告 深圳建筑外立面改造项目可行性研究报告——市场分析 根据 QYR（恒州博智）的统计及预测，2 ...