Core Viewpoint - Shandong Qilong Marine Oil Steel Pipe Co., Ltd. has been approved for listing on the Beijing Stock Exchange, marking it as the 68th company to pass the review this year, with a focus on the development, production, and sales of marine drilling riser pipes and related services [1][2]. Company Overview - Shandong Qilong specializes in the research, production, and sales of marine drilling riser pipes, oil and gas long-distance pipeline production, and underwater oil and gas equipment testing services [1]. - The company is controlled by Shengli Longxi (Shandong) Petroleum Engineering Technology Service Co., Ltd., which holds 111,670,000 shares, accounting for 78.66% of the total share capital [1]. IPO Details - The company plans to publicly issue up to 47,320,000 shares, with an option for an overallotment of up to 7,098,000 shares, bringing the total potential issuance to 54,418,000 shares [2]. - The funds raised, totaling 38,188.90 million yuan, will be allocated for land transfer fees, main construction investments, factory renovations, equipment purchases, and working capital [2][3]. Investment Allocation - The investment breakdown for the raised funds is as follows: - Land transfer fees: 1,870.00 million yuan - Main construction and related investments: 10,696.46 million yuan - Factory renovation costs: 434.06 million yuan - Equipment purchase and installation costs: 23,289.00 million yuan - Working capital: 1,899.38 million yuan - Total: 38,188.90 million yuan [3]. Review Meeting Inquiries - The review meeting raised inquiries regarding: 1. The operating conditions of the controlling shareholder, including external borrowings and debt ratios [4]. 2. The stability of customer cooperation and sustainability of business performance, particularly with the largest customer, CNOOC [4].

公司主要财务指标 证券时报·数据宝统计显示，11月3日，北交所上市委员会2025年第28次审议会议结果公告显示，山东祺 龙海洋石油钢管股份有限公司(简称祺龙海洋)首发申请获上市委会议通过，公司拟在北交所上市。 公司主营业务为海洋钻井隔水导管的研发、生产和销售；油气长输管线的生产和销售及水下油气装备试 验技术服务等。募集资金拟投资于高性能大口径隔水导管生产项目。本次发行保荐机构为首创证券股份 有限公司。 财务数据显示，2022年—2024年公司实现营业收入分别为2.40亿元、2.01亿元、2.44亿元，实现净利润 分别为4819.56万元、4739.19万元、5067.02万元。增幅方面，2024年公司营业收入增长21.07%，净利润 同比增长6.92%。（数据宝） | 财务指标/时间 | 2024年 | 2023年 | 2022年 | | --- | --- | --- | --- | | 营业收入（万元） | 24370.54 | 20128.87 | 24030.95 | | 归属母公司股东的净利润（万元） | 5067.02 | 4739.19 | 4819.56 | | 扣除非经常损益后归属母公司所有 ...

Core Viewpoint - Shandong Qilong Marine Oil Steel Pipe Co., Ltd. has successfully passed the IPO review for listing on the Beijing Stock Exchange, aiming to raise approximately 382 million yuan for high-performance large-diameter subsea conduits production projects [1][1]. Company Overview - Qilong Marine primarily engages in the research, production, and sales of subsea drilling riser pipes, as well as the production and sales of oil and gas long-distance pipelines and underwater oil and gas equipment testing technical services [1][1]. IPO Details - The company's IPO was accepted on December 24, 2024, and entered the inquiry phase on January 20, 2025 [1][1]. - The planned fundraising amount is approximately 382 million yuan, which will be allocated to the production project of high-performance large-diameter subsea conduits after deducting issuance costs [1][1]. Regulatory Scrutiny - The listing committee requested clarification on the operating conditions of the controlling shareholder, Longxi Oil Services, including its external borrowing and changes in asset-liability ratio [1][1]. - The committee also inquired about the commercial rationale for Longxi Oil Services' increased investment through borrowing and the effectiveness of risk isolation from the controlling shareholder's operations [1][1]. - Additionally, the committee sought information on the stability and sustainability of customer cooperation, specifically with the largest client, CNOOC, and the adequacy of bad debt provisions and accounts receivable risk disclosures [1][1].