日前，节卡股份和保荐人国泰海通证券股份有限公司向上交所提交了《节卡机器人股份有限公司关于撤 回首次公开发行股票并在科创板上市申请文件的申请》和《国泰海通证券股份有限公司关于撤回节卡机 器人股份有限公司首次公开发行股票并在科创板上市申请文件的申请》，申请撤回发行上市申请文件。 根据《上海证券交易所股票发行上市审核规则》第六十三条的有关规定，上交所决定终止对节卡股份首 次公开发行股票并在科创板上市的审核。 中国经济网北京12月20日讯上交所网站昨晚披露了关于终止对节卡机器人股份有限公司(以下简称"节卡 股份")首次公开发行股票并在科创板上市审核的决定。 上交所于2023年5月9日依法受理了节卡股份首次公开发行股票并在科创板上市的申请文件，并按照规定 进行了审核。 节卡股份原拟在上交所科创板募集资金67,600.00万元，分别用于智能机器人生产项目、研发中心建设项 目。 节卡股份的保荐机构(主承销商)为国泰海通证券股份有限公司，保荐代表人为杨辰韬、周丽涛。 公司主要从事协作机器人整机产品的研发、生产、销售，并从事包括集成设备及自动化产线在内的机器 人系统集成业务。 截至报告期末，节卡股份股权结构较为分散，单个股东持 ...

| 公司全称 | 节卡机器人股份有限公司 | 受理日期 | 2023-05-09 | | --- | --- | --- | --- | | 公司简称 | 节卡股份 | 融资金额(亿元) | 7.00 | | 审核状态 | 终止 | 更新日期 | 2025-12-19 | | 保芸机构 | 国泰海通证券股份有限公司 | 保若代美人 | 杨辰韬_周丽涛 | 公告显示，日前，节卡股份和保荐人国泰海通证券申请撤回发行上市申请文件，上交所决定终止对节卡股份首次公开发行股票并在科创板上市的审核。 节卡股份原本有望冲刺A股"协作机器人第一股"，其主营业务为协作机器人整机产品的研发、生产、销售，并从事包括集成设备及自动化产线在内的机器 人系统集成业务。 回溯来看，节卡股份IPO申请最早于2023年5月9日获得受理，后于当月26日进入问询环节。该公司拟募资7亿元，用于智能机器人生产项目和研发中心建 设项目。 节卡股份选择的上市标准为科创板第二套，即"预计市值不低于人民币15亿元，最近一年营业收入不低于人民币2亿元，且最近三年累计研发投入占最近三 年累计营业收入的比例不低于15%"。 12月19日，节卡机器人股份有限公司（简称 ...

智通财经APP获悉，12月19日，节卡机器人股份有限公司(简称：节卡股份)上交所科创板IPO审核状态 变更为"终止"。因节卡股份及其保荐人国泰海通申请撤回发行上市申请文件，根据《上海证券交易所股 票发行上市审核规则》第六十三条有关规定，上交所决定终止对其首次公开发行股票并在科创板上市的 审核。 据招股书披露，自2014年7月成立以来，节卡股份专注于机器人及其相关领域的研发与推广，重视产品 技术创新，经过多年积累，公司围绕协作机器人的核心零部件、整机及应用已构建了完善的技术体系， 并形成核心技术优势。 节卡股份主营业务为协作机器人整机产品的研发、生产、销售，并从事包括集成设备及自动化产线在内 的机器人系统集成业务。 在商业化方面，公司协作机器人整机产品具有安全协作、灵活易用、远程交互等特点，具备良好的通用 性，能够满足不同领域、不同业态的应用场景需求，实现了在"中国天眼"(FAST)运行维护、汽车水冷板 焊接、航空发动机/燃气轮机叶片打磨、航天装备部件装配、半导体封测等高端技术场景的应用突破， 目前已广泛应用于汽车零部件、3C电子、半导体、精密制造、新能源等智能制造领域，并覆盖零售、 物流、教育、医疗等消费服务 ...

格隆汇12月5日丨山东威达(002026.SZ)公布，为促进长期战略目标的实现，山东威达机械股份有限公司 积极布局智能机器人领域。2025年12月4日，公司与南通晨源鸿策股权投资合伙企业（有限合伙）（简 称"南通晨源"）、艾利特智能机器人股份有限公司（简称"标的公司"或"艾利特"）签署《关于艾利特智 能机器人股份有限公司之股份转让协议》，公司拟以自有资金6,277,873.07元人民币受让南通晨源持有 的标的公司9.4395万股股份（对应标的公司9.4395万元注册资本），占标的公司股本总额的0.3400%； 与艾利特签署《艾利特智能机器人股份有限公司投资意向书》，公司拟以自有资金13,722,126.93元人民 币认购标的公司新增12.3797万股股份（对应标的公司12.3797万元的注册资本），占本次增资后的标的 公司股本总额的0.4440%。若上述对外投资全部顺利实施，公司预计将持有增资完成后标的公司 0.7825%的股份，标的公司成为公司的参股子公司。 艾利特成立于2018年2月7日，是专注于工业机器人及自动化设备研发的国家高新技术企业，已构建了覆 盖5-30kg负载的八大系列39款产品矩阵，具备从操 ...

艾利特成立于2018年2月7日，是专注于工业机器人及自动化设备研发的国家高新技术企业，已构建了覆 盖5-30kg负载的八大系列39款产品矩阵，具备从操作系统到关节模组的全栈技术能力，产品广泛应用于 汽车、3C电子、生物医疗等行业。公司产品主要包括协作机器人整机产品及机器人系统集成业务。 格隆汇12月5日丨山东威达(002026.SZ)公布，为促进长期战略目标的实现，山东威达机械股份有限公司 积极布局智能机器人领域。2025年12月4日，公司与南通晨源鸿策股权投资合伙企业（有限合伙）（简 称"南通晨源"）、艾利特智能机器人股份有限公司（简称"标的公司"或"艾利特"）签署《关于艾利特智 能机器人股份有限公司之股份转让协议》，公司拟以自有资金6,277,873.07元人民币受让南通晨源持有 的标的公司9.4395万股股份（对应标的公司9.4395万元注册资本），占标的公司股本总额的0.3400%； 与艾利特签署《艾利特智能机器人股份有限公司投资意向书》，公司拟以自有资金13,722,126.93元人民 币认购标的公司新增12.3797万股股份（对应标的公司12.3797万元的注册资本），占本次增资后的标的 公司股本 ...

Core Viewpoint - The change in revenue recognition policy by Jeka Robotics before its IPO application is significant as it allows for earlier revenue recognition, raising questions about the authenticity of its financial statements and the potential for premature revenue recognition [1][2][6] Revenue Recognition Policy Change - Jeka Robotics altered its revenue recognition method for its core product, collaborative robots, prior to its IPO application, shifting from acceptance to signing [5][6] - In 2021, the amount recognized under the new signing method was 39.6031 million yuan, accounting for 31.28% of total domestic sales revenue [6][9] - The company reported a substantial revenue increase of 264.21% in 2021 and 59.68% in 2022, but the cash collection ratio decreased from 99.38% in 2020 to 76.54% in 2021, indicating potential issues with revenue authenticity [19][11] Financial Performance and Concerns - Jeka Robotics' revenue for 2021 was 176 million yuan, with a significant growth rate, and for 2022, it reached 281 million yuan, meeting the requirements for the Sci-Tech Innovation Board [11][9] - The company has consistently reported negative free cash flow, totaling -922 million yuan over five years, raising concerns about its financial sustainability [19][19] - The cash collection ratio has been declining despite revenue growth, which may suggest relaxed credit policies or premature revenue recognition [19][20] Technical Independence and Relationships - Jeka Robotics has been questioned about the independence and advancement of its core technology, particularly its ties to Shanghai Jiao Tong University [21][22] - The company has significant ownership ties with professors from Shanghai Jiao Tong University, which raises concerns about potential conflicts of interest and the independence of its technological development [23][26] Sales and R&D Expenses - Jeka Robotics' sales expenses have consistently exceeded its R&D expenses, with sales expenses accounting for 27.72% to 24.16% of revenue from 2022 to 2024, compared to R&D expenses of 16.92% to 21.53% [28][29] - The higher sales expense ratio compared to industry peers suggests a focus on marketing rather than R&D-driven growth, raising questions about the company's strategic direction [29][28]

Core Viewpoint - The IPO process of Jieka Robotics Co., Ltd. has faced another setback as the Shanghai Stock Exchange's Listing Committee announced the cancellation of the scheduled review meeting originally set for August 8, due to the need for further verification of related matters [1][3]. Company Overview - Jieka Robotics submitted its prospectus for the Sci-Tech Innovation Board in May 2023, with Guotai Junan Securities as the sponsor. The company has undergone two rounds of inquiries during the IPO process, with the second round focusing on core technology, market potential, and fundraising capabilities [3][4]. - The main business of Jieka Robotics includes the research, development, production, and sales of collaborative robot products, as well as system integration services involving integrated equipment and automated production lines [3][4]. Fundraising and Investment Plans - Jieka Robotics planned to raise 679 million yuan for investments in smart robot production projects and the establishment of a research and development center [3][4]. - The total investment for the smart robot production project is approximately 37.25 million yuan, while the R&D center construction project is estimated at around 30.75 million yuan, bringing the total investment to approximately 67.99 million yuan [4]. Financial Performance - Jieka Robotics reported revenues of 281 million yuan, 350 million yuan, and a projected 400 million yuan for the years 2022, 2023, and 2024, respectively. The net profits (losses) for the same years were 5.74 million yuan, -28.55 million yuan, and a projected 6.23 million yuan [4][5]. - The company’s total operating costs for 2024 are projected to be approximately 401 million yuan, with significant expenses in research and development, sales, and management [5].

Summary of Upcoming IPOs - A total of 4 companies are scheduled for IPO review from August 4 to August 8, aiming to raise a combined total of 1.912 billion yuan [1][2]. Company Details Zhongcheng Consulting - Planned fundraising was reduced from 330 million yuan to 200 million yuan, with the removal of EPC business expansion and liquidity support projects [3][13]. - The company specializes in engineering cost consulting, bidding agency, project supervision, and management services [13][14]. Fengbei Biological - The fundraising target was cut from 1 billion yuan to 750 million yuan, eliminating liquidity support projects [7][18]. - The company focuses on the comprehensive utilization of waste oil resources, producing bio-based materials and biofuels [18][19]. Jieke Co., Ltd. - The planned fundraising decreased from 750 million yuan to 676 million yuan, with adjustments made to the funding for the intelligent robot production project and the removal of liquidity support [10][23]. - The company is engaged in the research, production, and sales of collaborative robot products, with applications in various high-tech fields [23][24]. Nante Technology - The fundraising target was reduced from 420 million yuan to 286 million yuan, with the removal of certain expansion projects and adjustments to funding for other projects [12][27]. - The company specializes in the research, production, and sales of precision mechanical components [27][28]. Financial Performance Overview - Zhongcheng Consulting reported total assets of approximately 602.75 million yuan and a net profit of 105.39 million yuan for the year ending December 31, 2024 [17]. - Fengbei Biological's total assets reached approximately 1.236 billion yuan, with a net profit of 123.82 million yuan for the same period [21]. - Jieke Co., Ltd. reported total assets of approximately 104.67 million yuan and a net profit of 622,800 yuan for the year ending December 31, 2024 [25]. - Nante Technology's total assets were approximately 1.417 billion yuan, with a net profit of 98.22 million yuan for the same period [29]. Fundraising Projects Zhongcheng Consulting - Major projects include engineering consulting service network construction and R&D and information technology projects, with a total investment of 1.299 billion yuan [18]. Fengbei Biological - Key projects include the construction of a facility for producing 300,000 tons of oleic acid methyl ester and other bio-based products, with a total investment of 1.04 billion yuan [22]. Jieke Co., Ltd. - The company plans to invest in projects related to the production of collaborative robots and R&D center construction, with a total investment of approximately 754.31 million yuan [26]. Nante Technology - The company is focusing on precision component production and expansion projects, with a total investment of approximately 501.42 million yuan [31].

Core Viewpoint - The company, Jieka Robotics, is facing challenges in its IPO process and financial performance, despite being positioned in a growing market for collaborative robots. The company has reported a slowdown in revenue growth and has experienced fluctuations in profitability, raising concerns about its future prospects and the viability of its expansion plans [1][3][5]. Revenue Growth - Jieka Robotics has shown revenue growth from 281 million yuan in 2022 to 400 million yuan in 2024, with a compound annual growth rate (CAGR) of 19.42% during the reporting period, significantly lower than the 141.16% CAGR from 2020 to 2022 [6][7]. - The company's main revenue source is collaborative robot systems, which accounted for 93.63% of total revenue in 2024, up from 77.24% in 2022 [9][10]. - The projected revenue for 2024 was initially estimated at 555 million yuan, indicating that actual performance has not met expectations [7]. Profitability Concerns - Jieka Robotics reported a net profit of 622,800 yuan in 2024, recovering from a loss of 2.85 million yuan in 2023, but the net profit has shown significant volatility [12][13]. - The company has accumulated undistributed losses of 58.03 million yuan as of the reporting period, indicating ongoing financial challenges [12][14]. - The increase in research and sales expenses has impacted short-term profitability, with R&D expenses rising to 19.21% of total revenue in 2024 [15][16]. Expansion Plans and Market Position - Jieka Robotics plans to raise 700 million yuan through its IPO, with 370 million yuan allocated for an intelligent robot production project aimed at achieving an annual production capacity of 40,000 units [19][20]. - The global market for collaborative robots is expected to grow significantly, with projections of 287,400 units sold by 2028, but the company acknowledges its current market position is not competitive with leading brands [18][19]. - The company has a production capacity of 8,000 units for collaborative robots in 2024, which is only one-fifth of its long-term target, raising questions about its ability to utilize new capacity effectively [21][23].

文/梧桐晓编 自智翔金泰（688443）2023年6月20日上市以后，A股未再有亏损企业实现IPO上市。2024年下半年以来，各界要求恢复优质未盈利企业IPO上市的呼声持续增 长。监管系统领导也在不同场合表态支持优质未盈利科技企业发行上市。2025年3月11日，中国证监会党委召开扩大会议，深入学习习近平总书记在全国两会期 间的重要讲话精神和全国两会精神，研究部署资本市场贯彻落实具体举措。会议指出： 证监会要在支持科技创新和新质生产力发展上持续加力。增强制度包容 性、适应性，支持优质未盈利科技企业发行上市，稳妥恢复科创板第五套标准适用，尽快推出具有示范意义的典型案例，更好促进科技创新和产业创新融合发 展。 综观目前200家IPO在审企业，只有9家是报告期最近一年未盈利的，其中申报科创板的8家，申报北交所的1家。 9家在审未盈利IPO企业基本信息 单位：万元 | 公司简称 | 拟上市板 块 | 最近一年 营收 | 最近一年 净利润 | 上市标准 | 审核状态 | 保存机构 | 受理日期 | | --- | --- | --- | --- | --- | --- | --- | --- | | 西安奕材 | 科创板 ...