Core Viewpoint - The China Securities Association announced the second batch of IPO companies for on-site inspection in 2025, with a total of 12 companies selected for inspection across various boards [1]. Group 1: Basic Information of Selected Companies - The selected IPO companies include 3 from the Shanghai Main Board, 3 from the Shenzhen Main Board, 5 from the Sci-Tech Innovation Board, and 1 from the Growth Enterprise Market [1]. - The companies cover diverse industries such as automotive manufacturing, semiconductor materials, agricultural biotechnology, and clean energy materials [5]. Group 2: Financial Performance Overview - Longyu Group reported a revenue of 163,708.79 million and a net profit of 20,102.12 million for 2024 [5]. - Yisiwei (Hangzhou) Technology achieved a revenue of 39,242.06 million and a net profit of 6,171.83 million for 2024 [11]. - Hengyun Chang reported a revenue of 54,079.03 million and a net profit of 13,058.00 million for 2024 [15]. - Xinyi Technology recorded a revenue of 20,755.23 million and a net profit of 6,308.94 million for 2024 [19]. - Aiteke reported a revenue of 346,792.85 million and a net profit of 20,295.82 million for 2024 [24]. - Tianyuan Biochemical achieved a revenue of 174,989.54 million and a net profit of 22,769.48 million for 2024 [28]. - Zhenstone reported a revenue of 443,879.18 million and a net profit of 59,959.91 million for 2024 [33]. - Kangrui New Materials achieved a revenue of 299,750.50 million and a net profit of 41,488.97 million for 2024 [38]. - Future Materials reported a revenue of 64,027.15 million and a net profit of 14,375.42 million for 2024 [42]. - Electric Science and Technology reported a revenue of 312,702.27 million and a net profit of 29,296.85 million for 2024 [47]. - Huigu New Materials achieved a revenue of 81,690.54 million and a net profit of 14,171.26 million for 2024 [52].

Core Viewpoint - Easy Vision (Hangzhou) Technology Co., Ltd. is entering the inquiry stage for its IPO on the Sci-Tech Innovation Board, aiming to leverage its leading position in the automotive machine vision equipment sector and expand into new application areas such as rail transit and aviation [3]. Financial Performance - Revenue projections for Easy Vision from 2022 to 2024 are 223 million yuan, 355 million yuan, and 392 million yuan respectively [3]. - Net profit attributable to the parent company for the same period is expected to be 6.40 million yuan, 61.04 million yuan, and 85.46 million yuan respectively [3]. - Total assets as of December 31, 2024, are projected to be 703.56 million yuan, with equity attributable to shareholders at 477.47 million yuan [4]. - The company’s revenue for 2023 is reported at 354.87 million yuan, with a net profit of 57.75 million yuan [4]. Shareholder Structure - The actual controller of the company is Guo Yin, who directly holds 12.27% of the shares and indirectly controls a total of 56.13% through various entities [5]. - Guo Yin has been serving as the executive director and general manager since the company's establishment [5]. Management Compensation - Guo Yin's salary for 2024 is reported at 82,500 yuan, while the financial officer and board secretary, Cui Pengfei, earns 637,800 yuan [8][11]. - Other key management personnel have varying compensation, with the total reported for the last year being 472.66 thousand yuan [11].

IPO Review and Registration Progress - Three IPO applications were accepted last week, including Senhe High-Tech aiming for the Beijing Stock Exchange to raise 490 million yuan, Yisiwei targeting the Sci-Tech Innovation Board with a planned raise of 1.214 billion yuan, and Zhixin Co. applying for an IPO on the Shanghai Main Board with a target of 1.329 billion yuan [2][3] - Senhe High-Tech specializes in the R&D, production, and sales of environmentally friendly precious metal mining agents, with sales revenue from these agents accounting for over 95% of its main business income during the reporting period [2] - Yisiwei focuses on automotive manufacturing machine vision equipment, holding the largest market shares in China’s automotive manufacturing and complete vehicle manufacturing machine vision markets at 13.7% and 22.5% respectively [3] - Zhixin Co. develops and produces automotive welding parts and related molds, with over 70% of its revenue coming from its top five customers [3] Recent IPO Approvals and Upcoming Listings - Huaxin Precision passed its IPO review on June 6, focusing on precision stamping products, with a projected revenue of 1.421 billion yuan in 2024, a 19.49% increase year-on-year [4] - Three companies are set to undergo IPO reviews this week, including Sanxie Electric, which reported steady revenue growth from 287 million yuan in 2022 to 420 million yuan in 2024 [4][5] - United Power, a subsidiary of Huichuan Technology, achieved a revenue of 16.178 billion yuan in 2024, a 72.74% increase, with over 85% of its revenue derived from electric drive systems [5] - Daoshengtianhe, a wind power industry chain company, reported a revenue of 3.238 billion yuan in 2024, a slight increase of 1.13% [6] New Stock Listings and Subscription Dynamics - Two new stocks were listed last week, Zhongce Rubber and Youyou Green Energy, with the latter seeing a significant first-day increase of 68.64% [9][10] - This week, Jiao Da Tie Fa is scheduled to be listed on June 10, with a projected revenue of 335 million yuan in 2024 [10] - Two new stocks are set for subscription this week, including Huazhi Jie and New Henghui, with planned fundraising of approximately 486 million yuan and 519 million yuan respectively [11] Policy and Regulatory Developments - The China Securities Regulatory Commission (CSRC) announced plans to support high-quality unprofitable technology companies in going public, emphasizing the importance of information disclosure and market intermediary verification [12] - The China Listed Companies Association released guidelines for audit committees to enhance compliance and governance among listed companies [13]

Core Points - The article discusses the recent developments in IPO applications on the Shanghai and Shenzhen stock exchanges, highlighting the acceptance of new applications, approvals, and registrations [1][2][3]. Group 1: IPO Applications - During the week of June 3 to June 8, three new IPO applications were accepted, with one company approved, two submitted for registration, one registered, and one terminated [1]. - The accepted IPO applications include two from the Shanghai Stock Exchange: Chongqing Zhixin Industrial Co., Ltd. and Yisiwei (Hangzhou) Technology Co., Ltd., and one from the Beijing Stock Exchange: Guangxi Senhe High-tech Co., Ltd. [1][3]. - Jiangyin Huaxin Precision Technology Co., Ltd. was approved for its IPO after more than two years of review [1]. Group 2: Company Specifics - Yisiwei focuses on the research, production, and sales of machine vision equipment for the automotive industry, with a significant portion of its revenue tied to accounts receivable and contract assets [3]. - Zhixin's main business involves the development and production of automotive welding parts, with a high concentration of sales to its top five customers, which poses risks if their financial conditions deteriorate [4]. - Senhe High-tech specializes in the research and production of environmentally friendly precious metal mining agents, facing risks due to reliance on a single product [5]. Group 3: Termination of Review - Beijing Tianxing Medical Co., Ltd.'s IPO application was terminated after concerns arose regarding its fundraising exceeding total assets, leading to a reduction in its fundraising target [2][6]. - The company initially aimed to raise 1.093 billion yuan, while its total assets were only 382 million yuan, raising questions about the feasibility of its fundraising [6]. Group 4: Financial Performance - Tianxing Medical's revenue from its main business has shown growth, with significant contributions from implantable devices, but it faces risks related to fluctuating gross margins due to market conditions [7]. - The company's gross margin has varied over the reporting periods, indicating potential challenges in maintaining profitability amidst competitive pressures [7].

Core Viewpoint - Yisiwei (Hangzhou) Technology Co., Ltd. has been accepted for an IPO on the Sci-Tech Innovation Board, marking it as the first Sci-Tech Innovation Board IPO accepted in June and the fourth this year by the Shanghai Stock Exchange [2] Group 1: Company Overview - Yisiwei specializes in the research, production, and sales of machine vision equipment for automotive manufacturing, providing solutions for various processes in vehicle and component manufacturing [2] - The company holds the largest market share in its field in China and is recognized as a key "little giant" enterprise, breaking the long-standing foreign monopoly and accelerating the digital transformation of domestic automotive manufacturing [2] - Yisiwei is also expanding its business into rail transit maintenance and aviation sectors, continuously exploring new application scenarios [2] Group 2: Financial Performance - Projected revenues for Yisiwei from 2022 to 2024 are 223 million yuan, 355 million yuan, and 392 million yuan respectively [2] - The net profit attributable to the parent company for the same period is expected to be 6.4 million yuan, 61 million yuan, and 85 million yuan respectively [2] - Key financial indicators for the company show total assets of 7035.58 million yuan and net profit of 843.32 million yuan for the year ending December 2024 [3]

Core Viewpoint - Yisiwei (Hangzhou) Technology Co., Ltd. is focusing on the IPO on the Sci-Tech Innovation Board, aiming to raise 1.214 billion yuan for its machine vision product industrialization base, R&D center, and working capital [1][6] Company Overview - Yisiwei specializes in the R&D, production, and sales of machine vision equipment for automotive manufacturing, providing solutions for various processes in vehicle and component manufacturing [3] - The company is recognized as a national key "little giant" enterprise, holding the largest market share in the domestic machine vision sector, successfully breaking the long-standing foreign monopoly and accelerating the digital transformation of domestic automotive manufacturing [3] Market Position - As of the end of 2024, Yisiwei's products are widely used by major automotive manufacturers, including FAW-Volkswagen, SAIC Volkswagen, and BYD, as well as international companies like Volvo and Rivian [4] - According to Frost & Sullivan, Yisiwei achieved a market share of 22.5% in China's automotive manufacturing machine vision products by 2024, surpassing foreign competitors and becoming the only Chinese company with annual revenue exceeding 100 million yuan in this field [4] Product Development - The company has developed over ten products that are applied across six major manufacturing processes: stamping, welding, painting, assembly, battery, and die-casting, establishing a comprehensive product range and application coverage [3] - Yisiwei holds 387 domestic and international authorized patents and 108 software copyrights, including 192 invention patents, 139 utility model patents, and 56 design patents as of December 31, 2024 [4] Financial Performance - Yisiwei's revenue from 2022 to 2024 was approximately 223 million yuan, 355 million yuan, and 392 million yuan, respectively, with net profits of approximately 6.4 million yuan, 61 million yuan, and 85 million yuan during the same period [5]

Core Viewpoint - Easy Vision (Hangzhou) Technology Co., Ltd. has received acceptance for its IPO application on the Shanghai Stock Exchange's Sci-Tech Innovation Board, aiming to raise 1.214 billion yuan [1] Company Overview - Easy Vision specializes in the research, production, and sales of machine vision equipment for automotive manufacturing, holding the largest market share in China and recognized as a key "little giant" enterprise [1] - The company has successfully broken the long-standing monopoly of foreign manufacturers in the machine vision sector, significantly reducing costs for domestic automotive manufacturers and promoting the digital transformation of the industry [1] Market Position - As of the end of 2024, Easy Vision's market share in China's automotive manufacturing machine vision products reached 22.5%, surpassing foreign competitors and becoming the only Chinese company in this field with annual revenues exceeding 100 million yuan [2][3] Product Development - Easy Vision has developed over ten products that are widely applied across six major manufacturing processes: stamping, welding, painting, assembly, battery, and die-casting, establishing a leading advantage in product variety and application coverage [2] Financial Performance - The company reported revenues of approximately 223 million yuan, 355 million yuan, and 392 million yuan for the years 2022, 2023, and 2024, respectively, with net profits of approximately 5.39 million yuan, 57.75 million yuan, and 84.33 million yuan during the same periods [3][4] - Key financial metrics for 2024 include total assets of 703.56 million yuan, equity attributable to shareholders of 477.47 million yuan, and a debt-to-asset ratio of 32.78% [4]