Core Viewpoint - The stock price of Jianxin Superconductor (688805.SH) has declined significantly since its debut on the Shanghai Stock Exchange, closing at 47.16 yuan with a drop of 7.26% on December 29, marking a new low since its listing [1] Group 1: Company Overview - Jianxin Superconductor was listed on the STAR Market on December 24, with an issuance of 41.92 million shares at a price of 18.58 yuan per share [1] - The total amount raised by Jianxin Superconductor was 778.8736 million yuan, with a net amount of 688.6427 million yuan after deducting issuance costs, which is 86.3573 million yuan less than originally planned [1] Group 2: Financial Details - The total issuance costs amounted to 90.2309 million yuan, including a sponsorship fee of 5 million yuan and an underwriting fee of 54.5212 million yuan [1] - The funds raised are intended for projects including the annual production of 600 sets of liquid helium-free superconducting magnets, 600 sets of high-field medical superconducting magnets, and new superconducting magnet research and development [1]

Group 1 - The core point of the article is that Jianxin Superconductor (688805.SH) experienced a significant stock price drop of 8.28% on its first trading day, closing at 53.31 yuan [1] - Jianxin Superconductor was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 24, 2023, with an issuance of 41.92 million shares at a price of 18.58 yuan per share [1] - The total amount of funds raised by Jianxin Superconductor was 778.87 million yuan, with a net amount of 688.64 million yuan after deducting issuance costs, which is 86.36 million yuan less than the original plan [1] Group 2 - The company plans to use the raised funds for projects including the annual production of 600 sets of liquid helium-free superconducting magnets, 600 sets of high-field medical superconducting magnets, and new superconducting magnet research and development [1] - The total issuance costs amounted to 90.23 million yuan, which includes a sponsorship fee of 5 million yuan and an underwriting fee of 54.52 million yuan [1]

Group 1 - The company, Jianxin Superconductor, is set to issue shares at a price of 18.58 yuan, with a total market value of 2.337 billion yuan and an issuance price-to-earnings ratio of 61.97 [2] - The main business of the company includes the production of medical magnetic resonance imaging (MRI) equipment, superconducting magnets, and gradient coils, making it the largest producer of medical MRI superconducting magnets globally with a market share of 4.2% [2][3] - The company's revenue composition is primarily from superconducting products (73.17%) and permanent magnet products (26.83%) [2] Group 2 - The company has been involved in the development of non-evaporative superconducting magnets since 2015, breaking the long-standing monopoly of European, American, and Japanese manufacturers [3] - The company is focused on the research and production of next-generation liquid helium-free superconducting magnets and 1.5T large aperture liquid helium-free superconducting magnets [3] - In the past three years, the company's net profit has been 425 million yuan, with a projected revenue of 451 million yuan in 2023, reflecting a growth of 25.55% [3]

Core Viewpoint - Ningbo Jianxin Superconducting Technology Co., Ltd. is set to go public on the Shanghai Stock Exchange's Sci-Tech Innovation Board, aiming to raise funds for various superconducting magnet projects, including the production of 600 sets of helium-free superconducting magnets and medical superconducting magnets [1][4]. Financial Performance - For the period from January to September 2025, the company reported a revenue of 393.30 million yuan, a year-on-year increase of 37.34% [4] - Operating profit reached 53.73 million yuan, up 41.98% year-on-year [4] - The net profit attributable to the parent company, after deducting non-recurring gains and losses, was 47.62 million yuan, reflecting a growth of 38.54% [4] - The growth was driven by increased revenue from helium-free superconducting products and rising domestic demand for medical equipment [4]. Industry Position - Jianxin Superconducting is one of the earliest manufacturers in China to produce high-field superconducting magnets at scale, breaking the long-standing monopoly of European, American, and Japanese companies in the field [4][5]. - The company has achieved a significant technological breakthrough in helium-free superconducting technology, leading to a global first in fully helium-free superconducting magnets [5]. - By 2024, the company is projected to hold the fifth position globally and the second among domestic companies in terms of MRI superconducting magnet market share [5]. Research and Development - As of June 30, 2025, the company holds a total of 85 authorized patents, including 45 invention patents [7]. - Jianxin Superconducting has been recognized as a "Little Giant" enterprise by the national government, indicating its focus on specialized and innovative technologies [7]. - The company is actively involved in various significant R&D projects, including the development of helium-free superconducting magnets and other key technologies [7]. Strategic Partnerships - The company has established close collaborations with renowned MRI equipment manufacturers, including Fujifilm, GE Healthcare, and others, enhancing its supply chain and reducing delivery costs [8]. - Over 50% of the company's products are exported to Japan, Europe, and other emerging markets, facilitating global promotion of MRI equipment [8]. Future Outlook - Jianxin Superconducting aims to deepen its core superconducting technology innovations in the MRI industry and expand its applications into new fields such as power and transportation [9][10]. - The company's vision is to become a leading brand in the global MRI core component industry, focusing on advanced design and production of MRI components [10].

Group 1 - The core mission of the company is to make MRI technology accessible for everyday medical examinations through independent research and continuous innovation [1] - The company has established close partnerships with well-known MRI equipment manufacturers such as Fujifilm Holdings Corporation and Beijing Wandong Medical Technology Co., Ltd [1] - From 2022 to the first half of 2025, the company reported revenue of 359 million, 451 million, 425 million, and 252 million CNY, with net profits of 34.63 million, 48.73 million, 55.78 million, and 31.92 million CNY respectively, indicating an overall upward trend in revenue [1] Group 2 - The funds raised will be invested in projects including the annual production of 600 sets of helium-free superconducting magnets and the technological transformation of high-field medical superconducting magnets [2] - The company has successfully developed the world's first 1.5T helium-free superconducting magnet, showcasing its core technology in the next generation of superconducting magnets [2] - The company aims to enhance its competitive edge in products and technology, contributing to the domestic substitution of high-end medical equipment and creating long-term value for investors [2]

Core Points - The Shanghai Stock Exchange's Listing Review Committee is scheduled to hold its 43rd meeting on October 21, 2025, to review the initial public offering (IPO) of Ningbo Jianxin Superconducting Technology Co., Ltd. (referred to as "Jianxin Superconducting") [1] - Jianxin Superconducting plans to list on the Sci-Tech Innovation Board and aims to raise CNY 77.5 million, which will be allocated to projects including the annual production of 600 sets of liquid helium-free superconducting magnets, the annual production of 600 sets of high-field medical superconducting magnets, and the research and development of new superconducting magnets [1] Company Ownership Structure - As of the signing date of the prospectus, Xu Jianyi directly holds 41.51% of the company's shares, making him the controlling shareholder. Xu Jianyi, Xu Hui, and Xu Dianbo hold 41.51%, 4.36%, and 4.36% of the shares, respectively. Xu Hui controls an additional 4.84% of voting rights through Kaifang Investment and Qiyi Investment, resulting in a total of 59.92% voting rights controlled by the three individuals [1] - Xu Jianyi is the father of Xu Hui and Xu Dianbo, who are siblings. The three have signed a "Joint Action Agreement" on October 18, 2019, establishing them as the actual controllers of the company [1] Sponsorship Information - The sponsor for Jianxin Superconducting's IPO is GF Securities Co., Ltd., with representatives Zhou Yin and Wang Zhen serving as the sponsoring representatives [1]