智通财经APP获悉，9月25日，中国证监会发布《关于同意海安橡胶集团股份公司首次公开发行股票注册的批复》。据悉，海安橡胶拟在深交所上市，国泰 海通为其保荐机构，拟募资29.5232亿元。 招股书显示，海安橡胶的主营业务包括巨型全钢工程机械子午线轮胎的研发、生产与销售，以及矿用轮胎运营管理业务。巨型全钢工程机械子午线轮胎是工 程机械轮胎中极具特色的高端产品，其体积和质量巨大(最大轮胎外直径超过 4 米，最大质量接近 6 吨)、工作条件苛刻、不间断工作时间长，因此全钢巨胎 产品的生产技术难度大，目前仅少数轮胎生产企业能够实现大规模量产。 ...

据了解，海安橡胶的主营业务包括巨型全钢工程机械子午线轮胎的研发、生产与销售，以及矿用轮胎运 营管理业务。公司主板IPO于2023年6月12日获得受理，当年7月7日进入问询阶段，2025年5月30日上会 获得通过，并于同年8月18日提交注册。 本次冲击上市，海安橡胶拟募集资金约29.52亿元，扣除相应的发行费用后将用于全钢巨型工程子午线 轮胎扩产及自动化生产线技改升级项目、研发中心建设项目、补充流动资金。 北京商报讯（记者 马换换 王蔓蕾）近日，深交所官网显示，海安橡胶集团股份公司（以下简称"海安橡 胶"）主板IPO注册生效。 ...

Group 1 - The core viewpoint of the article is that Hai'an Rubber Group Co., Ltd. has submitted its IPO registration to the Shenzhen Stock Exchange, aiming to raise approximately 2.952 billion yuan for expansion and modernization projects [1] - Hai'an Rubber's main business includes the research, production, and sales of giant all-steel radial tires for construction machinery, as well as the operation and management of mining tires [1] - The company’s IPO was accepted on June 12, 2023, entered the inquiry stage on July 7, 2023, and was approved on May 30, 2025 [1] Group 2 - Financial data shows that Hai'an Rubber's projected operating revenues for 2022, 2023, and 2024 are approximately 1.508 billion yuan, 2.251 billion yuan, and 2.3 billion yuan, respectively [1] - Corresponding net profits attributable to the parent company for the same years are projected to be approximately 354 million yuan, 654 million yuan, and 679 million yuan [1] - The funds raised from the IPO will be used for the expansion of all-steel giant engineering radial tire production, automation production line upgrades, research center construction, and to supplement working capital [1]

Core Viewpoint - Hai'an Rubber Group Co., Ltd. has submitted its IPO application to the Shenzhen Stock Exchange, aiming to raise approximately 2.952 billion RMB, focusing on the production and sales of giant all-steel radial tires for engineering machinery and mining tire management [1][2]. Financial Performance - The company reported revenues of approximately 1.508 billion RMB, 2.251 billion RMB, and 2.300 billion RMB for the years 2022, 2023, and 2024, respectively [2]. - Net profits for the same years were approximately 354 million RMB, 654 million RMB, and 679 million RMB [2]. Key Financial Metrics - As of December 31, 2024, total assets are projected to be approximately 3.282 billion RMB, with equity attributable to shareholders of the parent company at around 2.387 billion RMB [3]. - The company's debt-to-asset ratio is expected to decrease from 44.49% in 2022 to 21.10% in 2024 [3]. - Basic and diluted earnings per share are projected to be 4.87 RMB for 2024, up from 2.54 RMB in 2022 [3]. - The return on equity is expected to be 33.23% in 2024, down from 47.67% in 2023 [3]. - Research and development expenses are projected to account for 3.03% of revenue in 2024 [3].

Core Viewpoint - Hai'an Rubber Group Co., Ltd. has submitted its IPO application to the Shenzhen Stock Exchange, aiming to raise approximately 2.95232 billion RMB, focusing on the production and sales of giant all-steel radial tires for engineering machinery and mining tire management services [1] Financial Performance - In the fiscal years 2022, 2023, and 2024, the company reported revenues of approximately 1.508 billion RMB, 2.251 billion RMB, and 2.300 billion RMB, respectively, with net profits of about 354 million RMB, 654 million RMB, and 679 million RMB [2] - The total assets as of December 31, 2024, are projected to be 3.28278 billion RMB, with equity attributable to shareholders of 2.38693 billion RMB [3] - The company's asset-liability ratio is expected to decrease from 44.49% in 2022 to 21.10% in 2024, indicating improved financial stability [3] Key Products and Clients - The main business includes the research, development, production, and sales of giant all-steel radial tires, which are characterized by their large size and high production complexity, with only a few manufacturers capable of mass production [1] - Major clients include Zijin Mining Group Co., Ltd., Ural Mining and Metallurgical Company, and XCMG Group, among others, highlighting a strong customer base in the mining and construction sectors [1]

Summary of Key Points Core Viewpoint - The A-share IPO market experienced a decrease in the number of companies going public in May 2025, with a total of 4 companies passing the review, down from 9 in April, while the number of new listings was limited to 6, the second-lowest this year [1][2]. Group 1: IPO Market Activity - In May, 4 companies were approved for IPOs, including Hai'an Rubber, which specializes in the research, production, and sales of giant all-steel engineering tires [2][3]. - The number of new IPO applications received in May reached a monthly high of 16, with 10 from the Beijing Stock Exchange and 2 each from the Shanghai Main Board and the ChiNext [5]. - 8 companies terminated their IPO projects in May, an increase from 5 in April, with some having previously passed the review [4]. Group 2: Overseas Listings - As of May 30, 2025, 158 companies were in the process of filing for overseas securities issuance, with over 70% planning to list in Hong Kong [1][6]. - In May, 41 companies submitted applications to the Hong Kong Stock Exchange, including 5 A-share listed companies, indicating a continued trend of domestic companies seeking overseas listings [6][7]. - The Hong Kong market saw a significant increase in fundraising, with a total of HKD 558.01 billion raised in May, marking the highest monthly total since April 2021 [7]. Group 3: Market Performance - Despite a decrease in the number of new listings, the performance of new stocks on their debut was strong, with 4 stocks rising over 100% on their first day, including a peak increase of 411.93% for Tiangong Co [3][8]. - Among the 10 new stocks listed in the Hong Kong market in May, 7 recorded gains while 3 faced declines, resulting in a first-day drop rate of 30% [8].

IPO Review and Registration Progress - The recent surge in IPO applications has led to 9 new IPO applications being accepted in the last week [2] - Notable companies include Yue Long Technology, Hao De CNC, Hai Sheng Medical, Yong Li Precision, Mei De Le, and Da Ya Co., with various business focuses ranging from fluid transport to medical devices and precision steel pipes [2][3][4] - Hai Sheng Medical reported a revenue of 3.04 billion yuan for 2024, a slight decrease of 0.7% year-on-year, with a net profit of 710 million yuan, down 9.12% [3] - Yong Li Precision expects revenues of 5.68 billion yuan and a net profit of 950 million yuan in 2024, with a growing reliance on major clients [4] - Mei De Le anticipates revenues of 11.38 billion yuan and a net profit of 2.11 billion yuan in 2024, with a significant portion of revenue coming from the new energy battery sector [4] New IPOs and Fundraising - Shaanxi Tourism's IPO has been accepted, aiming to raise 1.555 billion yuan for various tourism-related projects [5][6] - The company integrates tourism performance, cableway operations, and project management, leveraging local resources [5] - Aifenda has submitted its IPO registration, seeking to raise approximately 665 million yuan for production line upgrades and working capital [9] - Tianfu Long has received approval for its IPO, planning to raise 790 million yuan for production projects [9] Market Trends and Regulatory Developments - The Shanghai government aims to cultivate 3-5 unicorns in the rehabilitation assistive devices sector by 2027, promoting investment and efficiency in the industry [12] - Guangdong province encourages fintech companies to go public, engage in mergers and acquisitions, and issue special corporate bonds to enhance digital financial development [13]

Group 1 - In May, the A-share IPO market saw 4 companies pass their initial public offering (IPO) review, a significant decrease from 9 companies in April [2][5] - Only 6 new stocks were listed in May, which is slightly higher than the 1 stock listed in February this year [5] - The number of companies terminating their IPOs rose to 8 in May, compared to 5 in April, with 2 of these companies having previously passed their IPO review [6][9] Group 2 - Among the 4 companies that passed the IPO review, Haian Rubber is involved in the research, production, and sales of giant all-steel engineering tires and mining tires, with expected fundraising of 2.952 billion yuan [3][5] - The other companies that passed include Shichang Co. (180 million yuan), Zhigao Machinery (465 million yuan), and Youli Intelligent (270 million yuan) [3] - The expected compound annual growth rate of Haian Rubber's revenue from 2025 to 2027 is projected to be 20%, with revenues of 1.508 billion yuan, 2.251 billion yuan, and 2.3 billion yuan for the years 2022 to 2024 [5] Group 3 - In May, 16 new companies were accepted for IPO applications, marking the highest monthly acceptance rate of the year, with 10 from the Beijing Stock Exchange and 2 each from the Shanghai and ChiNext boards [9] - As of May 30, 2025, a total of 158 companies are in the process of overseas securities issuance, with over 70% planning to list in Hong Kong [10] - The Hong Kong market saw 41 companies submit applications in May, including 7 A-share listed companies announcing plans for their first IPO in Hong Kong [10] Group 4 - The Hong Kong stock market achieved a monthly high in fundraising, with a total of 55.801 billion HKD raised in May, the highest since April 2021 [11] - Among the 10 new stocks listed in Hong Kong in May, 3 experienced a drop on their first trading day, resulting in a 30% first-day drop rate [12]

1.请发行人代表结合报告期内营业收入、订单情况、主要客户变化、行业现状及发展趋势等，说明其预 计2025年-2027年营业收入复合增长率为20%的合理性及可持续性，期后业绩是否存在下滑风险。请保 荐人代表发表明确意见。 2.请发行人代表结合新增产能情况、消化措施及可行性，说明募投项目规划的合理性。请保荐人代表发 表明确意见。 中国经济网北京5月31日讯 深圳证券交易所上市审核委员会2025年第9次审议会议于昨日召开，审议结 果显示，海安橡胶集团股份公司（以下简称"海安橡胶"）符合发行条件、上市条件和信息披露要求。这 是今年过会的第19家企业（其中，上交所和深交所一共过会13家，北交所过会6家）。 海安橡胶的保荐机构（主承销商）为国泰海通证券股份有限公司，保荐代表人为李懿、吴素楠。这是国 泰海通今年保荐成功的第2单IPO项目。此前，4月11日，国泰海通保荐的悍高集团股份有限公司首发过 会。 海安橡胶的主营业务包括巨型全钢工程机械子午线轮胎的研发、生产与销售，以及矿用轮胎运营管理业 务。 截至招股说明书签署日，福建省信晖投资集团有限公司（以下简称"信晖集团"）为海安橡胶控股股东， 持有海安橡胶28.32%股份。朱 ...

Core Viewpoint - The article discusses the approval of three companies for IPOs, highlighting their business operations, revenue, and profit projections for 2024, as well as their major clients and market dynamics. Group 1: Company Overview - Zhigao Machinery specializes in the research, production, sales, and service of rock drilling equipment and air compressors, with projected 2024 revenue of 888.44 million yuan and net profit of 103.16 million yuan [2][7]. - Shichang Co., Ltd. focuses on the research, production, and sales of automotive fuel systems, with a projected 2024 revenue of 514.86 million yuan and net profit of 69.95 million yuan [24][26]. - Hai'an Rubber is engaged in the research, production, and sales of giant all-steel engineering tires and mining tire management, with a projected 2024 revenue of 2.30 billion yuan and net profit of 640.56 million yuan [4][28]. Group 2: Financial Performance - Zhigao Machinery's revenue for the reporting period was 795.04 million yuan in 2022, 840.37 million yuan in 2023, and is projected to reach 888.44 million yuan in 2024, with net profits increasing from 62.61 million yuan to 103.16 million yuan [7][10]. - Shichang Co., Ltd. reported revenues of 281.52 million yuan in 2022, 406.08 million yuan in 2023, and a projected 514.86 million yuan in 2024, with net profits rising from 17.78 million yuan to 69.95 million yuan [26][27]. - Hai'an Rubber's revenue increased from 1.51 billion yuan in 2022 to 2.25 billion yuan in 2023, with a slight increase to 2.30 billion yuan projected for 2024, and net profits rising from 318.72 million yuan to 640.56 million yuan [4][28]. Group 3: Client Concentration and Market Dynamics - Zhigao Machinery's major client, OOO AltaiBurMash, accounted for 20.11% of its revenue in 2024, with significant sales growth in foreign markets, particularly Russia [12][15]. - Shichang Co., Ltd. has a high client concentration, with its top five clients contributing over 95% of its sales, primarily driven by major automotive manufacturers like Geely and Chery [33][34]. - Hai'an Rubber's client base includes major construction and mining companies, with a focus on expanding its market share in both domestic and international markets [4][28].