Company Overview - Shandong Yuelong Rubber and Plastic Technology Co., Ltd. (Yuelong Technology) has been accepted for IPO on the Beijing Stock Exchange, with a proposed fundraising of 289 million yuan for new projects [3] - The company was established in 1989 and has a registered capital of 61 million yuan, focusing on the research, production, and sales of flexible pipelines and hose assemblies for fluid transportation [3][5] Financial Performance - The company's projected revenues for 2022, 2023, and 2024 are 189 million yuan, 219 million yuan, and 262 million yuan, respectively [6] - Net profits for the same years are expected to be 47.92 million yuan, 60.78 million yuan, and 84.14 million yuan, showing a consistent growth trend [6] - The gross profit margins are forecasted to increase from 51.97% in 2022 to 59.95% in 2024, indicating improved operational efficiency [6] Shareholding Structure - The chairman and general manager, Xu Jincheng, controls 73.79% of the company's shares, making him the controlling shareholder and actual controller [5] Employee Demographics - As of December 31, 2024, the company has 367 employees, with 93.46% being over 40 years old, indicating an experienced workforce [8]

Summary of Key Points Core Viewpoint - The Beijing Stock Exchange (BSE) has seen significant trading activity and new listings, indicating a growing market with increased investor interest and participation. Trading Activity - As of May 18, 2025, there are 266 companies listed on the BSE with a total share capital of 36.498 billion shares and a circulating share capital of 23.096 billion shares [2] - For the week of May 12 to May 18, the trading volume reached 8.072 billion shares, a week-on-week increase of 42.28%, while the trading amount was 173.488 billion yuan, up 39.35% from the previous week [3] - The average trading price during this period was 21.49 yuan, reflecting a decrease of 2.06% [3] - The BSE 50 Index rose by 3.13% to 1422.43 points, with 25 stocks increasing, none remaining flat, and 25 declining [3] New Listings - One company successfully listed on the BSE during the week, bringing the total to 266 [6] - Tian Gong Co., Ltd. (stock code: 920068) was the latest addition, listed on May 13, 2025, and is the first company to split from a Hong Kong stock to list on the BSE [7] - On its first trading day, Tian Gong's stock peaked with a 498.98% increase, closing at 20.17 yuan, a rise of 411.93% with a trading volume of 1.076 billion yuan [7] - As of May 19, 2025, Tian Gong's stock price reached 22.99 yuan, with a total market capitalization of 14.9 billion yuan, reflecting a 4.45% increase from its listing day [7] Upcoming Listings and Applications - As of May 18, 2024, there are 62 companies awaiting approval for listing on the BSE, including 5 under review, 48 in inquiry, and 8 submitted for registration [5] - One company, Youli Intelligent Equipment Co., Ltd. (stock code: 874325), passed the listing committee meeting during this period [12] - Youli Intelligent plans to raise 358 million yuan for the construction of a production base for photovoltaic support components and other projects [13] Financial Performance of Listed Companies - Tian Gong's revenue for 2022 to 2024 was 383 million yuan, 1.035 billion yuan, and 801 million yuan, with net profits of 70.31 million yuan, 175 million yuan, and 174 million yuan respectively [9] - For the first quarter of 2025, Tian Gong expects to achieve revenue of 192 million yuan [10] - Youli Intelligent's revenue for the same period was 433 million yuan, 658 million yuan, and 729 million yuan, with net profits of 42.19 million yuan, 78.17 million yuan, and 90.05 million yuan [14] Other Companies in the Pipeline - Several companies, including Yuelong Technology, Kelairedi, and Kanghua Co., have passed the counseling acceptance process, indicating their readiness for potential listing [20][21][24] - These companies are involved in various sectors, including medical devices, chemical pharmaceuticals, and tourism services, showcasing the diversity of industries represented on the BSE [24][26][27]

Core Viewpoint - Shandong Yuelong Rubber and Plastic Technology Co., Ltd. (Yuelong Technology) has completed its IPO counseling work and plans to reduce significant related party transactions by acquiring a majority stake in Techfluid U.K. Ltd. [1] Financial Performance - In 2023, Yuelong Technology reported operating revenue of 218.63 million yuan, an increase from 188.97 million yuan in 2022, reflecting a growth of approximately 15.5% [3] - The company's gross profit margin improved to 52.64% in 2023 from 51.97% in 2022 [3] - Operating profit rose to 71.47 million yuan in 2023, compared to 55.44 million yuan in 2022, marking an increase of about 28.9% [3] - Net profit increased to 60.78 million yuan in 2023 from 47.92 million yuan in 2022, representing a growth of approximately 26.9% [3] - The weighted average return on net assets increased to 20.97% in 2023 from 16.93% in 2022 [3] - The net profit attributable to the shareholders of the company, after deducting non-recurring gains and losses, was 54.71 million yuan in 2023, up from 49.21 million yuan in 2022 [3] Corporate Structure - The chairman and general manager, Xu Jincheng, controls 73.79% of the company's shares, making him the controlling shareholder and actual controller [2] - Xu Jincheng has a long history in various leadership roles, including positions in local government and the rubber and plastic industry, and has been with Yuelong Technology since its inception [2]