Core Insights - Beikang Testing officially listed on the Beijing Stock Exchange on November 18, with a remarkable increase of 295.52% on its debut [2] - The company issued 28.32 million shares at a price of 6.70 yuan per share, raising a total of 189 million yuan, which will be used for the development of advanced testing instruments and to supplement working capital [2] - Beikang Testing is recognized as one of the most comprehensive and powerful testing and research service institutions in the field of non-ferrous metal inspection and testing [2] Industry Context - The President of the China Nonferrous Metals Industry Association highlighted that China is the largest producer, consumer, and trader of non-ferrous metals globally, emphasizing the industry's critical role in supporting high-tech development and national strategic security [2] - Testing and inspection are crucial for quality control and standard formulation, directly impacting product safety, environmental protection, and enhancing international influence [2] Company Strategy - The Chairman of Minmetals Technology Group, Han Long, stated that Beikang Testing has gained customer trust and market recognition through its commitment to professionalism and service quality, evolving into a listed company and a national-level "specialized and innovative" enterprise [3] - Beikang Testing's Chairman, Li Huachang, expressed the company's commitment to maintaining a sound governance structure and achieving sustainable high-quality development, aiming to enhance profitability and competitiveness while giving back to investors and society [3]

Core Insights - Beikang Testing Technology Co., Ltd. has successfully listed on the Beijing Stock Exchange, marking it as the 24th company from the "Beijing Team" to go public [1][2] - The company originated from a small laboratory established in 1956 and has evolved into a national-level specialized "little giant" in the capital market [1] - Beikang Testing specializes in the research and technical services of non-ferrous metal mineral resource inspection and testing, making it one of the most comprehensive and powerful institutions in this field [1] Company Overview - Beikang Testing is headquartered in Daxing District, Beijing, and was transformed into a joint-stock company in October 2016 [1] - The company has maintained a high level of R&D investment, with R&D expenses accounting for 5.57%, 7.44%, and 9.32% of operating income over the past three years [1] Shareholding Structure - As of the listing, the controlling shareholder, Mining and Metallurgy Group, directly holds 86.11% of Beikang Testing's shares, with an additional 1.53% held indirectly through the Beijing General Research Institute of Mining and Metallurgy, totaling 87.64% [1] - The State-owned Assets Supervision and Administration Commission holds 100% of Mining and Metallurgy Group, making it the actual controller of Beikang Testing [1] Listing Details - The company was listed on the Beijing Stock Exchange after its application was approved by the listing committee and registered by the China Securities Regulatory Commission [2] - Beikang Testing publicly issued 28.32 million shares at a price of 6.70 yuan per share, raising a total of 189 million yuan [2] - The funds raised will be used for the development of advanced testing instrument research bases, enhancement of testing capabilities, and to supplement working capital [2] Market Performance - On its first day of trading, Beikang Testing's stock price surged by 295.52% compared to the issue price [2] - The chairman of Beikang Testing expressed commitment to maintaining a sound governance structure and focusing on sustainable, high-quality development to enhance profitability and competitiveness [2]