IPO Pipeline Overview - As of November 23, there are 268 companies in the IPO pipeline, with 19 on the Shanghai Main Board, 34 on the Sci-Tech Innovation Board, 20 on the Shenzhen Main Board, 27 on the Growth Enterprise Market, and 168 on the Beijing Stock Exchange [1][2]. Newly Listed Companies - Four companies were listed between November 17 and November 23: Southern Power Grid Digital Grid Research Institute Co., Ltd., Xiamen Hengkang New Materials Technology Co., Ltd., Beikong Detection Technology Co., Ltd., and Harbin Daopeng Industrial Co., Ltd. [3] - Southern Power Grid Digital closed at 18.48 CNY per share, with a rise of 224.78%, trading volume of 3.391 billion CNY, and a turnover rate of 75.35% [4]. - Hengkang New Materials closed at 64.55 CNY per share, with a rise of 310.61%, trading volume of 2.270 billion CNY, and a turnover rate of 81.36% [5]. - Beikong Detection closed at 26.50 CNY per share, with a rise of 295.52%, trading volume of 660 million CNY, and a turnover rate of 88.46% [5]. - Harbin Daopeng also closed at 26.50 CNY per share, with a rise of 295.52%, trading volume of 660 million CNY, and a turnover rate of 88.46% [5]. New Counseling Record Companies - Twelve companies were newly recorded for counseling between November 17 and November 23, including Guangdong Jinding Optical Technology Co., Ltd., Zhejiang Changlong Airlines Co., Ltd., and others [6][7]. Companies Passing Review - Five companies successfully passed the review process from November 17 to November 23: Zhejiang Zhenshi New Materials Co., Ltd., Yisiwei (Hangzhou) Technology Co., Ltd., Suzhou Aide Technology Development Co., Ltd., Shanghai Tongling Automotive Technology Co., Ltd., and Tongling Jingqiang Electronic Technology Co., Ltd. [11][12]. Companies Obtaining Registration Approval - Jiangxi Hongban Technology Co., Ltd. and Shaanxi Tourism Culture Industry Co., Ltd. received registration approval between November 17 and November 23 [15][16].

Group 1 - The Beijing Stock Exchange and Shanghai Stock Exchange will hold meetings on November 21 to review four IPO applications, all of which have been approved [1] - Aide Technology focuses on orthopedic medical devices, including spinal, trauma, and sports medicine products, aiming to become a leading provider in the domestic market [2] - The company has developed multiple core technologies and holds 110 patents, including 45 invention patents, and has received various recognitions as a high-tech enterprise [2][9] Group 2 - The IPO will be sponsored by Debon Securities, with a total share capital of approximately 88.59 million shares, planning to issue up to 29.53 million shares [3] - The major shareholders are Lu Qiang and Huang Meiyu, who together control 79.07% of the company [4] - The company aims to raise 197 million yuan for three major projects, including orthopedic consumables expansion and R&D center construction [6] Group 3 - Financial data shows total assets of approximately 652 million yuan as of June 30, 2025, with a net profit of about 38.22 million yuan for the first half of 2025 [5] - The company has maintained a low debt ratio, with a debt-to-asset ratio of 13.07% as of June 30, 2025 [5] - The company has a strong revenue stream, with reported revenues of 149 million yuan for the first half of 2025 [5] Group 4 - The company has a comprehensive product matrix covering all areas of orthopedics, including spinal, trauma, joint, and sports medicine [8] - Aide Technology emphasizes providing affordable and high-quality orthopedic products, focusing on grassroots medical markets [9] - The company has established a strong brand presence in the minimally invasive spinal treatment sector [9]

Core Viewpoint - The Beijing Stock Exchange's listing committee approved the initial public offering (IPO) of Tongling Jingqiang Electronic Technology Co., Ltd. (referred to as "Jingqiang Technology"), marking it as the 81st company approved for listing this year, with 34 approvals from the Beijing Stock Exchange [1] Company Overview - Jingqiang Technology specializes in the research, production, and sales of electromagnetic wires, being one of the main suppliers of aluminum-based electromagnetic wire products in China, primarily focusing on enameled aluminum wire [1] - The company plans to issue up to 20 million shares, with an option to issue an additional 3 million shares through an over-allotment option, bringing the total potential issuance to 23 million shares [2] Fundraising and Projects - Jingqiang Technology aims to raise 33 million yuan (approximately 4.6 million USD) to fund a project for an annual production capacity of 25,000 tons of specialty electromagnetic wire and to supplement working capital [3] Key Questions Raised During Review - The committee inquired about the sustainability of the company's operating performance, requesting an explanation of its competitive advantages in relation to enameled aluminum and copper wires, including product performance, application scenarios, raw material supply, and technological barriers [4] - The committee also questioned the feasibility of the fundraising projects, asking for an assessment of whether the new production capacity aligns with downstream demand and the feasibility of absorbing this new capacity [4]

Core Viewpoint - Six companies are set to present their initial public offerings (IPOs) to the listing committees of the Shenzhen Stock Exchange, Shanghai Stock Exchange, and Beijing Stock Exchange, with a total fundraising target of approximately 29.63 billion yuan [1][2]. Group 1: Upcoming IPOs - The companies planning to go public include one on the Sci-Tech Innovation Board and five on the Beijing Stock Exchange [2][4]. - The company with the highest fundraising target is 易思维 (Yisiwei), aiming to raise 1.214 billion yuan for projects related to machine vision product industrialization and research [2][8]. - 美德乐 (Meidele) and 永大股份 (Yongda) are also notable, with fundraising targets of 645 million yuan and 458 million yuan, respectively [2][8]. Group 2: Company Details - 易思维 specializes in the research, production, and sales of automotive machine vision equipment [4]. - 美德乐 focuses on the research, design, manufacturing, and sales of intelligent manufacturing equipment [8]. - 永大股份 is engaged in the research, design, manufacturing, sales, and related technical services of pressure vessels [7]. - 通领科技 (Tongling Technology) develops and produces automotive interior components [5]. - 兢强科技 (Jingqiang Technology) is a major supplier of aluminum-based electromagnetic wire products, primarily producing enameled aluminum wire [5]. - 爱得科技 (Aide Technology) specializes in the research, production, and sales of orthopedic medical devices [6].

Core Points - Five companies are set to present their IPO applications, with the most significant fundraising target being 1.214 billion yuan by Yisiwei for projects related to machine vision [1][5] - The companies include Yisiwei on the Sci-Tech Innovation Board and Yongda Co., Tongling Technology, and Jingqiang Technology on the Beijing Stock Exchange [1][2][3] Group 1: Company Details - Yisiwei specializes in the research, production, and sales of automotive machine vision equipment [2] - Yongda Co. focuses on the research, design, manufacturing, sales, and related technical services of pressure vessels [5] - Tongling Technology is engaged in the research, production, and sales of automotive interior parts [3] - Jingqiang Technology primarily deals with the research, production, and sales of electromagnetic wires, being a major supplier of aluminum-based electromagnetic wire products in China [3] - Aide Technology is involved in the research, production, and sales of medical devices, mainly orthopedic consumables [4] Group 2: Fundraising and Regional Distribution - Yisiwei aims to raise 1.214 billion yuan, followed by Yongda Co. with 458 million yuan and Tongling Technology with 411 million yuan [1][5] - Among the five companies, two are from Jiangsu Province, while Shanghai, Zhejiang, and Anhui Provinces each have one company represented [1]

Core Insights - This week (November 17-21), five companies are scheduled for IPO meetings, with a focus on various stock exchanges including the Sci-Tech Innovation Board and the Beijing Stock Exchange [1] Group 1: Upcoming IPOs - Five companies are set to present their IPO plans, including Yisiwei on the Sci-Tech Innovation Board, Zhenshi Co. on the Shanghai Main Board, and three companies (Tongling Technology, Jingqiang Technology, and Aide Technology) on the Beijing Stock Exchange [1] - Zhenshi Co. plans to raise the highest amount of 3.981 billion yuan, targeting projects related to fiberglass products, composite materials, and a production facility in Spain [1] - Yisiwei and Tongling Technology aim to raise 1.214 billion yuan and 411 million yuan, respectively [1] Group 2: Company Profiles - Zhenshi Co. specializes in the research, production, and sales of fiber-reinforced materials in the clean energy sector and is recognized as a national high-tech enterprise [2] - Yisiwei focuses on the research, production, and sales of automotive manufacturing machine vision equipment [3] - Tongling Technology is involved in the research, production, and sales of automotive interior components [4] - Jingqiang Technology is a major supplier of aluminum-based electromagnetic wire products, primarily producing enameled aluminum wire [4] - Aide Technology specializes in the research, production, and sales of orthopedic medical devices [5]

本次冲击上市，兢强科技拟募集资金约3.3亿元，扣除发行费用后，拟用于年产25000吨特种电磁线项 目、补充流动资金项目。 北京商报讯（记者 马换换 李佳雪）近期，北交所官网显示，铜陵兢强电子科技股份有限公司（以下简 称"兢强科技"）IPO将于11月21日上会迎考。 招股书显示，兢强科技主要从事电磁线的研发、生产及销售，是国内主要的铝基电磁线产品供应商之 一，其中以漆包铝线为主。公司IPO于2024年12月11日获得受理，并于2025年1月9日进入问询阶段。 ...