从主动撤单到再度闯关，长沙北斗产业安全技术研究院集团股份有限公司(以下简称"北斗院")的科创板 上市之路可谓一波三折。 日前，北斗院的科创板IPO审核状态变更为"已问询"。与2023年首次闯关科创板相比，公司募资规模大 幅提升至7.09亿元，并新增多个募投项目。 长江商报记者注意到，在业绩波动、毛利率收窄的背景下，北斗院在本次IPO前突击分红1640万元。不 仅如此，首次撤单后，北斗院新增17家机构股东，其中就包括公司第一大客户中电科集团旗下中电科投 资。 2025年上半年，包括中电科集团在内，北斗院来自前五大客户的销售收入占比达到72.64%。 截至2025年6月末，北斗院手握现金(货币资金+交易性金融资产)4.59亿元，占总资产的比例为42.74%， 且期末资产负债率仅为3.91%。 本次IPO，北斗院计划使用2亿元募集资金用于补充流动资金及储备资金，其募资必要性与合理性无疑 将面临监管的重点审视。 业绩出现波动，或是北斗院主动撤单的原因之一。综合两版招股书，2020年至2023年，北斗院的营业收 入分别为9349.85万元、1.44亿元、2.43亿元、2.85亿元，归属于母公司所有者的净利润为(以下简称 ...

| 公司全称 | 长沙北斗产业安全技术研究院集团股份有限公司 | 受理日期 | | --- | --- | --- | | 公司简称 | 北斗院 | 融资金额(亿 | 再度冲击科创板 从科创板撤单仅逾一年，长沙北斗产业安全技术研究院集团股份有限公司（以下简称"北斗院"）再次叩响了资本市场的大门，公司科创板IPO近期进入问询 阶段。此次二度闯关IPO，北斗院此前的老问题仍存在，应收账款呈现增长趋势。与此同时，也有新疑点待解，北斗院欲募资补流的同时，上半年现金分红 1640万元。 股权关系方面，截至招股书签署日，湖南国科防务电子科技有限公司（以下简称"国科防务"）直接持有公司出资额3525.74万元，占公司总股本的39.57%， 为公司直接控股股东；钟小鹏、明德祥、刘志俭、田梅、杨建伟、乔纯捷、刘春阳7人为公司的共同实际控制人。 上述7人中，除刘春阳外，其他6人均有在国防科技大学求学或任职的经历。此外，钟小鹏、明德祥、杨建伟、乔纯捷、刘志俭、刘春阳6人还是公司核心技 术人员。 今年上半年分红1640万元 梳理招股书后发现，北斗院在计划募资补流的同时，于2025年1—6月进行现金分红。 上交所官网显示，北斗院科创板 ...

Core Viewpoint - The company Changsha Beidou Industry Safety Technology Research Institute Group Co., Ltd. (referred to as "Beidou Institute") has entered the inquiry stage for its IPO on the Sci-Tech Innovation Board, focusing on satellite navigation and aerospace control technologies [1] Company Overview - Beidou Institute specializes in the research, development, production, and sales of technologies and products in two main fields: satellite navigation and aerospace control [1] - The company has developed three major business directions: navigation simulation and testing, spatiotemporal security and enhancement, and aerospace control and testing [1] Product Development - The company has independently developed various products based on core technologies in radio signal generation, measurement, and processing, including navigation signal simulators, navigation simulation testing systems, drone control series products, satellite control ground inspection products, and signal processing/generation/enhancement components [1] - The customer base includes industries such as national defense and military, low-altitude safety, commercial aerospace, energy, transportation, and education [1] IPO Details - Beidou Institute aims to raise approximately 709 million yuan through its IPO, which will be used for product upgrades and industrialization projects, integrated research and development construction in Xi'an, R&D center projects, information system construction projects, technology reserve funds, and to supplement working capital [1] - The IPO was accepted on November 21, 2025 [1]

公司此次公开发行股票募集资金(扣除发行费用后)将用于主营业务相关项目，具体投资项目情况如下： 财务方面，于2022年度、2023年度、2024年度及2025年1-6月，公司实现营业收入约为2.43亿元、2.85亿 元、3.25亿元、1.12亿元人民币. 同期，净利润分别约为7434.56万元、7883.39万元、8259.39万元、1523.74万元人民币。 导航仿真与测试主要产品包括导航信号模拟器、导航仿真测试系统，是公司收入的重要来源，收入贡献 占比超过50%。 公司所需原材料种类较多，主要包括元器件、配件与配套设备、结构件、模块与组件、生产原辅料及工 具等。除采购原材料外，为提高生产效率或满足部分客户的特殊要求，公司对外采购内容还包括元器件 筛选、PCBA、结构件加工、第三方计量试验等外协服务。 公司重要供应商包括中电科集团、C5 单位、大连东信微波技术有限公司、北京航天河科技发展有限公 司、湖南欧实电子科技有限公司等。客户涵盖国防军工、低空安全、商业航天、能源、交通、教育等多 个行业。 （原标题：北斗院科创板IPO已问询 专注于卫星导航、航天测控两大技术领域） 智通财经APP获悉，12月11日，长沙北 ...

Group 1 - Shanghai Stock Exchange's Sci-Tech Innovation Board had 1 company listed, while Shenzhen Stock Exchange's ChiNext had 1 company listed during November 18-24 [2] - Hengkun New Materials focuses on key materials for integrated circuits, achieving a first-day stock price increase of 310.61%, closing at 50.54 CNY per share, a 237.16% increase from the issue price of 14.99 CNY, with a total market value of approximately 22.7 billion CNY [2] - Nanwang Digital provides digital construction solutions for the power energy sector, with a first-day stock price increase of 224.78%, closing at 20.51 CNY per share, a 260.46% increase from the issue price of 5.69 CNY, with a total market value of approximately 65.2 billion CNY [2] Group 2 - Two companies passed the listing committee review on the Shanghai Stock Exchange's Sci-Tech Innovation Board, while no companies were reviewed on the Shenzhen Stock Exchange during November 18-24 [3] - Zhenshi Co., Ltd. specializes in fiber-reinforced materials for clean energy applications, providing innovative solutions across various industries [3] - Easy Vision focuses on machine vision equipment for automotive manufacturing, providing solutions for various manufacturing processes [4] Group 3 - One company submitted a listing application on the Shanghai Stock Exchange's Sci-Tech Innovation Board, while one company submitted an application on the Shenzhen Stock Exchange's ChiNext during November 18-24 [4] - Beidou Institute specializes in satellite navigation and aerospace control technologies, with an IPO application accepted on November 21, aiming to raise 709 million CNY for product upgrades and research projects [5] - Financial projections for Beidou Institute show revenues of 243 million CNY, 285 million CNY, and 325 million CNY from 2022 to 2024, with net profits of approximately 76.18 million CNY, 81.71 million CNY, and 82.94 million CNY respectively [6] Group 4 - Green Bio focuses on the research, production, and sales of fragrance products, with an IPO application accepted on November 21, aiming to raise 690 million CNY for production projects and R&D upgrades [10] - Financial projections for Green Bio show revenues of 631 million CNY, 735 million CNY, and 961 million CNY from 2022 to 2024, with net profits of approximately 68.14 million CNY, 92.92 million CNY, and 150 million CNY respectively [11] Group 5 - Hong Kong Stock Exchange had 1 company listed during November 18-24 [13] - Innovation Industry focuses on aluminum industry chain, with a first-day stock price increase of 32.76%, closing at 14.59 HKD per share, with a total market value of approximately 29.2 billion HKD [14] Group 6 - Six companies passed the hearing on the Hong Kong Stock Exchange's main board during November 17-24 [18] - Notable companies include Yujian Xiaomian, a Chinese noodle restaurant operator, and Jinyan High-tech, specializing in coal series kaolin [19][20] Group 7 - Several companies submitted listing applications on the Hong Kong Stock Exchange during November 17-24, including Kanop, Dongshan Precision, and NobiKan [25][31][34] - Kanop focuses on industrial robots and aims to enhance R&D capabilities and expand market presence [31] - Dongshan Precision is a leading global PCB supplier, with plans to upgrade production facilities and repay debts [34] Group 8 - NobiKan specializes in AI and digital twin technologies, with a focus on transportation and energy sectors [39] - Financial projections for NobiKan show revenues of 253 million CNY, 362 million CNY, and 403 million CNY from 2022 to 2024, with net profits of approximately 6.3 million CNY, 8.9 million CNY, and 11.5 million CNY respectively [40] Group 9 - Mandi International focuses on skin health and weight management solutions, with a strong market presence in hair loss treatment products [44] - Financial projections for Mandi International show revenues of 982 million CNY, 1.23 billion CNY, and 1.46 billion CNY from 2022 to 2024, with net profits of approximately 202 million CNY, 341 million CNY, and 390 million CNY respectively [45] Group 10 - Lingyi Intelligent Manufacturing aims to provide comprehensive intelligent manufacturing services, with a focus on AI hardware [47] - Financial projections for Lingyi show revenues of 34.5 billion CNY, 34.2 billion CNY, and 44.3 billion CNY from 2022 to 2024, with net profits of approximately 1.56 billion CNY, 2.01 billion CNY, and 1.76 billion CNY respectively [48] Group 11 - Hailan Home aims to optimize sales channels and enhance brand image through its IPO, with a strong market position in men's apparel [51] - Financial projections for Hailan show revenues of 17.9 billion CNY, 20.8 billion CNY, and 20.2 billion CNY from 2022 to 2024, with net profits of approximately 2.06 billion CNY, 2.92 billion CNY, and 2.19 billion CNY respectively [53]

Core Viewpoint - Changsha Beidou Industry Safety Technology Research Institute Group Co., Ltd. (referred to as "Beidou Institute") has successfully submitted its IPO application to the Sci-Tech Innovation Board, marking its second attempt to enter the capital market [1] Group 1: Business Focus and Financial Performance - Beidou Institute specializes in satellite navigation and aerospace measurement and control, with three main business directions: navigation simulation and testing, time-space security and enhancement, and aerospace measurement and control [2] - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 was approximately CNY 243 million, CNY 285 million, CNY 325 million, and CNY 112 million respectively, with net profits of approximately CNY 76 million, CNY 82 million, CNY 83 million, and CNY 15 million [2] - In the first half of this year, the revenue contribution from the three main business areas was 57.21%, 20.83%, and 21.96% respectively [2] Group 2: IPO Details and Fundraising - Beidou Institute aims to meet the listing standards of the Shanghai Stock Exchange's Sci-Tech Innovation Board, with an expected market value of no less than CNY 1 billion and positive net profits in the last two years totaling no less than CNY 50 million [3] - The company plans to raise CNY 709 million through this public offering, which will be used for product upgrades, industrialization projects, research and development center projects, information system construction, and working capital [3] Group 3: Shareholding Structure and Control - Beidou Institute was established in August 2016, with major shareholders including Guokefangwu and Hunan Zhongdian Huarong Enterprise Management Co., Ltd. [4] - As of the signing date of the prospectus, the actual controllers hold a combined voting power of 58.56%, with significant involvement from various investment entities [4][5] - Dachen Zhongxiao holds 6.10% of the total shares, with Dachen Caizhi acting as the executive partner [6]