Core Viewpoint - The withdrawal of Zhida Precision's application for listing on the Beijing Stock Exchange (BSE) significantly delays its progress towards going public, amidst a surge of nearly a hundred companies submitting applications to the BSE in June 2025 [2][11]. Group 1: Company Overview - Zhida Precision specializes in the research, production, and sales of small-diameter precision welded pipes, primarily used in the automotive manufacturing sector, as well as in home office, fitness equipment, and medical device manufacturing [5][6]. - The company has achieved over 1 billion in revenue in 2024, with a net profit of 76.29 million, maintaining a weighted average return on equity above 15% [6][7]. Group 2: Listing Application Process - Zhida Precision submitted its application to the BSE on June 25, 2025, after completing its listing guidance, but has not been accepted for review despite the BSE receiving 66 applications since that date [4][5]. - The company is the second to withdraw its application in the recent wave of listings, following Guangdong Tianbo Information Technology Co., Ltd. [4][5]. Group 3: Financial Performance and Challenges - In 2024, Zhida Precision's revenue grew by 10.93% to over 1 billion, but its net profit decreased by nearly 16% to 76.29 million due to rising operating costs [25][26]. - The company experienced a significant increase in total employees from 720 to 889 in 2024, while the number of R&D personnel decreased from 55 to 37, raising concerns about its innovation capacity [27][28]. Group 4: Future Prospects - Despite the withdrawal, Zhida Precision still has the opportunity to reapply for listing within the validity period of its guidance completion letter, which lasts until June 24, 2026 [10][11]. - The company is expected to strategize for a future listing attempt, as indicated by intermediaries familiar with its situation [10].