Core Viewpoint - Longcheng Fire Protection has terminated its listing guidance agreement with Nanjing Securities due to adjustments in its listing plans, as confirmed by the Shandong Securities Regulatory Bureau [1][3]. Company Overview - Longcheng Fire Protection was established in December 1989 as a fire equipment factory and transformed into a limited company in August 2012, with a registered capital of 42.5671 million yuan [3]. - The company is primarily engaged in the research, production, and sales of fire protection products, including fire extinguishers, fire hoses, and dry powder extinguishing agents, covering both traditional fire equipment and smart fire systems [3]. Shareholding Structure - The actual controllers of the company are Cui Qinghai and Liu Shuxia, a married couple holding a combined 65.97% stake. Cui Qinghai directly holds 62.53%, while the second-largest shareholder, Cui Qingzhong, holds 7.16% [3]. Financial Performance - Longcheng Fire Protection's revenue for the years 2022 to 2024 was 317 million yuan, 391 million yuan, and 394 million yuan, respectively. The net profit attributable to shareholders was 15.8812 million yuan, 21.2805 million yuan, and 8.4549 million yuan for the same years [4]. - The company experienced a significant decline in net profit for 2024, decreasing by 60.57% compared to the previous year, primarily due to losses from subsidiaries in Xinjiang and Gansu totaling 5.5051 million yuan, increased employee compensation in management expenses, and higher interest expenses from increased loans [4]. Management Changes - Longcheng Fire Protection has changed its financial director twice since last year. In April 2024, the original financial advisor, Xue Yunhua, was appointed as the new financial director, while the previous financial director, Liu Junjiao, became the financial supervisor. In February of the same year, Xue Yunhua resigned for personal reasons, and a new financial director, Liu Rui, was appointed [4].