Core Points - The Beijing Stock Exchange has decided to terminate the review of Shandong Canon Technology Co., Ltd.'s application for public stock issuance and listing [1][2] - Canon Technology submitted a request to withdraw its application for public issuance of shares to unspecified qualified investors [2] - The company is engaged in energy-saving and environmental protection heat exchange technology and industrial pipeline safety technology and equipment manufacturing [3] Company Information - As of the signing date of the prospectus, the controlling shareholder of Canon Technology is Yang Liyong, who holds 32.30% of the shares directly and an additional 0.06% indirectly through a partnership [3] - Yang Liyong, along with Yang Desheng, collectively controls 61.23% of the voting rights in Canon Technology [3] - Canon Technology originally planned to issue up to 29.10 million shares and aimed to raise approximately 24.78 million yuan for various projects [4][5] Project Details - The funds were intended for the following projects: - Intelligent manufacturing project for industrial damping safety systems with an investment of 7.29 million yuan - Manufacturing project for energy-saving and environmental protection heat exchange equipment with an investment of 5.70 million yuan - Research and development center project with an investment of 4.30 million yuan - Supplementing working capital with an investment of 7.50 million yuan [4][5]

Group 1 - The article discusses the financial challenges faced by technology companies in China, particularly in Jiangsu province, and how a scoring system has been established to facilitate funding for these companies [1] - Jiangsu has implemented a "Su Innovation Credit Loan" program, which evaluates technology companies based on six categories and 24 indicators, allowing banks to better assess the creditworthiness of these firms [1][2] - Nanjing Zhida Automation Group is highlighted as a case study, successfully obtaining a 5 million yuan loan from a bank due to its high ranking in the "Innovation Credit Loan" program, which emphasizes innovation capability over traditional financial metrics [1] Group 2 - As of the first quarter of 2025, banks in Jiangsu have issued a total of 209.2 billion yuan in "Su Innovation Credit Loans," positioning the province among the leaders in this initiative nationwide [2] - The Jiangsu government has introduced 20 measures to enhance financial support for technology companies, including interest subsidies and risk compensation, to address financing bottlenecks [2] - Additional initiatives include support for first-time loans for technology innovation companies, special guarantee plans, and encouragement for companies to issue technology innovation bonds [2]

Core Viewpoint - The company focuses on energy-saving and environmental protection equipment, contributing to sustainable development and carbon neutrality goals through innovative solutions in various industries [5][39]. Company Overview - The company is dedicated to the research, design, manufacturing, sales, and operation of energy-saving and environmental protection equipment, targeting sectors such as power, heat, chemicals, metallurgy, waste treatment, and new energy [5][28]. - The main products include slag energy-saving treatment systems, flue gas energy-saving treatment systems, full-load denitrification systems, clean energy consumption systems, desulfurization wastewater treatment systems, and steel slag energy-saving treatment systems [5][20]. Business Model - The company operates under two main business models: Engineering Procurement (EP) and Engineering Procurement Construction (EPC), focusing on customized solutions based on client specifications [29][33]. - The procurement strategy emphasizes building a resilient supply chain, utilizing demand-driven procurement and dynamic inventory management to optimize costs and efficiency [30][31]. Industry Situation - The energy-saving and environmental protection industry is a strategic emerging industry, driven by policies and capital to address energy transition and climate change challenges [39][40]. - The industry is experiencing a shift towards cleaner energy systems, with coal power transitioning from a base-load to a flexible power source, supporting renewable energy integration [40][41]. Technological Advancements - The company has developed innovative technologies such as air concentration evaporation technology and smoke-water dual-isolation phase change smoke deep cooling technology, enhancing system stability and efficiency [44][45]. - The integration of digital technologies, including big data and artificial intelligence, is being pursued to optimize energy management and equipment operation in coal-fired power plants [46].