（原标题：证监会同意誉帆科技深交所IPO注册） 智通财经APP获悉，10月10日，中国证监会发布《关于同意上海誉帆环境科技股份有限公司首次公开发行股票注册的批复》。据悉，誉帆科技拟 在深交所上市，中信证券为其保荐机构，拟募资5.4389亿元。 招股书显示，誉帆科技是为政府相关主管部门和管线权属单位提供智慧城市地下管网修复的高新技术企业和国家级专精特新"小巨人"企业，运用 CCTV、机器人设备、专业软件和先进的非开挖修复技术服务于排水管道维护领域，并致力于打造这一领域的完整产业链。 | 游戏ETF | | --- | | (产品代码:159869) | | ★ 跟踪：中证动漫游戏指数 | | 近五日涨跌: -- | | 市盈率:45.21倍 | | 资金流向: 最新份额为70.8亿份,增加 了4.0亿份,主力资金净流 出2.0亿元。 | | 估值分位: 66.29% | ...

Core Viewpoint - Shanghai Yufan Environmental Technology Co., Ltd. has submitted its IPO registration after a 10-month period, aiming to provide advanced underground pipeline repair services in the smart city sector, leveraging high-tech solutions and aiming to establish a complete industry chain [1]. Financial Performance - The company reported revenues of approximately 513 million yuan, 630 million yuan, 730 million yuan, and 311 million yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [1]. - Net profits for the same periods were approximately 78.83 million yuan, 98.25 million yuan, 130 million yuan, and 32.60 million yuan, with a projected revenue of 804.37 million yuan and net profit of 140.40 million yuan for the year 2025, reflecting a year-on-year growth of 10.16% and 7.83%, respectively [1]. Accounts Receivable and Contract Assets - The company has reported high levels of accounts receivable, with values of 333.07 million yuan, 482.45 million yuan, 550.89 million yuan, and 508.99 million yuan at the end of each reporting period, representing 34.74%, 42.53%, 39.10%, and 36.57% of total assets [2]. - Contract assets also showed significant values of 384.78 million yuan, 436.79 million yuan, 618.56 million yuan, and 624.64 million yuan, accounting for 40.14%, 38.51%, 43.91%, and 44.88% of total assets, indicating potential risks related to impairment losses [2]. Cash Flow and Compliance Issues - The company experienced significant fluctuations in net cash flow from operating activities, with values of -77.15 million yuan, -41.39 million yuan, -32.14 million yuan, and 17.88 million yuan over the reporting periods [3]. - There were compliance issues regarding social insurance and housing fund contributions for certain employees, which could lead to legal disputes and impact profit levels [3].

Core Viewpoint - Yufan Technology has applied for the IPO review status change to "submitted for registration" on the Shenzhen Stock Exchange, aiming to raise 543.89 million yuan [1] Company Overview - Yufan Technology is a high-tech enterprise providing smart city underground pipeline repair services, recognized as a national-level specialized and innovative "little giant" enterprise [1] - The company utilizes CCTV, robotic equipment, specialized software, and advanced non-excavation repair technology in the drainage pipeline maintenance sector [1] - Yufan Technology has become a comprehensive service provider integrating technology research and development, solution design, implementation, maintenance, and product sales [1] Market Position and Experience - Since its establishment, the company has completed thousands of projects, gaining extensive project experience and recognition within the industry [2] - The client base primarily consists of government units, public institutions, and large state-owned enterprises, which prefer to collaborate with companies that have a proven track record and industry reputation [2] Fundraising and Investment Projects - The funds raised from the IPO will be allocated to the following projects: 1. Urban pipeline operation and maintenance service capability enhancement and expansion with a total investment of 314.45 million yuan [2] 2. Research and development center construction project with a total investment of 109.44 million yuan [2] 3. Supplementing working capital with an investment of 120 million yuan [2] Financial Performance - The company reported the following revenue and net profit figures: - 2022: Revenue of approximately 513 million yuan, net profit of approximately 78.83 million yuan [2] - 2023: Revenue of approximately 630 million yuan, net profit of approximately 98.25 million yuan [2] - 2024: Revenue of approximately 730 million yuan, net profit of approximately 130 million yuan [2] - 2025 (Jan-Jun): Revenue of approximately 311 million yuan, net profit of approximately 32.61 million yuan [2] Asset and Profitability Metrics - Total assets as of June 30, 2025, are approximately 1.39 billion yuan, showing growth from 958.68 million yuan in 2022 [3] - The company's net profit attributable to the parent company has increased from 56.10 million yuan in 2022 to 82.16 million yuan in 2025 (Jan-Jun) [4] - The company's operating income has also shown a consistent upward trend, increasing from 513.01 million yuan in 2022 to 311.46 million yuan in 2025 (Jan-Jun) [4]