瞭望塔财经获悉，2025年6月30日，北交所受理了陕西瑞科新材料股份有限公司（以下简称"陕西瑞科"）的IPO申请。这家曾于2023年冲刺创业板却在2024年 3月主动撤回申请的公司，如今改道北交所，带着新的招股书和依然存在的旧问题。 瞭望塔财经通过招股书了解到，2022年至2024年期间，公司营业收入从11.85亿元降至10.52亿元，净利润从1.11亿元滑落至6903万元。业绩连续下滑的阴云 尚未散去，却在2025年一季度上演了净利润大涨81%的反转剧情。 更值得关注的是，本次IPO申报前12个月内突然新增8名股东，其中保荐机构开源证券通过两家机构间接持股0.73%并参与对赌协议。这种复杂的资本运作， 是否埋下了利益输送的隐患？ 1、曲折上市路，保荐机构入股对赌埋隐患 成立于2003年8月的陕西瑞科，已在贵金属催化剂行业沉浮二十余载。公司实控人蔡林家族合计持股55.28%，典型的家族企业架构。 2023年6月，公司首次冲击深交所创业板，却在2024年3月主动撤回材料。九个月后的2025年3月，公司迅速转战北交所，与开源证券签订辅导协议。 此次IPO路径转换中，股权结构在申报前发生异常变动。2024年12月至 ...

Core Viewpoint - The global platinum alloy catalyst mesh market is projected to reach USD 1.01 billion by 2031, with a compound annual growth rate (CAGR) of 4.2% in the coming years [4]. Market Overview - The platinum alloy catalyst mesh is primarily used in the nitric acid production industry, which accounts for approximately 90% of the demand [12]. - The knitted mesh is the dominant product type, holding about 61% of the market share [10]. - The Asia-Pacific region is the largest consumer of platinum alloy catalyst mesh, expected to exceed 53% market share by 2024, followed by Europe at around 18% [15]. Product Types and Applications - Platinum alloy catalyst mesh can be categorized into binary alloy mesh, ternary alloy mesh, and other types such as four-component alloy mesh [7]. - The ternary mesh is typically used in atmospheric nitric acid processes, while binary knitted mesh is preferred in high-pressure methods due to its economic advantages [7][16]. Market Trends - The market is characterized by international giants dominating the high-end platinum catalyst market, while domestic products are gradually achieving import substitution due to advancements in production technology [16]. - There is a trend towards the development of binary knitted mesh in response to environmental pressures and the transition to high-pressure nitric acid production methods [16]. Driving Factors - The significant demand from the nitric acid industry, which is essential for fertilizers, explosives, electronics, and pharmaceuticals, is driving the growth of the platinum alloy catalyst mesh market [17]. Challenges - Fluctuations in raw material prices and regional supply chain risks pose challenges to the market, particularly due to the geopolitical factors affecting platinum prices [18].