Core Viewpoint - The company, Wufeng Chicheng Biotechnology Co., Ltd., has decided to terminate its IPO application after experiencing two "suspensions of review" by the Beijing Stock Exchange, primarily due to its declining financial performance [1][4]. Company Overview - Founded in November 2004, Chicheng Biotechnology focuses on the research, production, and sales of hydrolyzed tannin products derived from plants rich in tannins [2]. - The company went public on the New Third Board in February 2024 and has attracted institutional investors since 2021 [2]. IPO Journey - The IPO process began on June 26, 2024, with the submission of application materials to the Beijing Stock Exchange [2]. - The company faced multiple suspensions of its IPO review due to the expiration of the financial report's validity period, leading to a second suspension on December 30, 2024 [3]. Financial Performance - In 2024, the company reported a revenue of approximately 351 million yuan, a 12.49% increase from the previous year, but its net profit decreased by 10.91% to 43.44 million yuan [5][6]. - The company's net profit has been on a downward trend, with a significant drop in 2022 attributed to reduced procurement from key customers [6][7]. Cosmetics Business - Chicheng Biotechnology has been exploring new growth avenues, particularly in the cosmetics sector, establishing a subsidiary focused on daily chemical products [8]. - The cosmetics subsidiary, Hubei Bencao Times Health Industry Co., Ltd., reported revenues of 555,880 yuan in 2024, marking its first profitable year, but its overall contribution remains limited [9]. Future Investments - The company plans to invest approximately 500 million yuan in the construction of a new industrial park aimed at enhancing its production capabilities for cosmetic raw materials and food additives [10]. - The industrial park project has been ongoing since August 2020, with partial completion expected by the end of 2024 [10].

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]

Core Viewpoint - The Beijing Stock Exchange has decided to terminate the review of Wufeng Chicheng Biotechnology Co., Ltd.'s public offering and listing application due to the company's withdrawal of its application [1][3]. Company Overview - Wufeng Chicheng Biotechnology Co., Ltd. specializes in the research, production, and sales of hydrolyzed tannin products derived from plants rich in tannins [3]. - The company was founded by Chen Chiqing and Mao Yefu, who are the controlling shareholders [4]. Shareholding Structure - Chen Chiqing directly holds 20.40% of the shares and indirectly controls an additional 1.78% through a partnership, totaling 22.18% [3]. - Mao Yefu directly holds 19.43% and indirectly controls 0.84%, totaling 20.27%. Together with his family members, he controls 25.41% of the shares [4]. - Combined, Chen Chiqing and Mao Yefu control 47.58% of the company [4]. Initial Public Offering Details - The company initially planned to issue up to 35.666 million shares, with a public shareholder ratio of at least 25% post-issue [4]. - The intended fundraising amount was 210 million yuan, allocated for the construction of the second phase of the company's industrial park and for working capital [5]. - The total investment for the industrial park project was estimated at 266.7142 million yuan, with 160 million yuan planned to be raised from the public offering [5].