Core Viewpoint - Jingchuang Electric (920035) experienced a significant increase of 330.74% on its first trading day, with a turnover rate of 93.84% and a transaction volume of 687 million yuan [2]. Company Overview - The company specializes in the research, development, production, and sales of cold chain equipment intelligent controllers, pharmaceutical and food cold chain monitoring recorders, heat pump testing instruments, and environmental particulate matter detection instruments [2]. Financing and Trading Details - On its first trading day, the financing amount for Jingchuang Electric was 3.81 million yuan, accounting for 0.55% of the total trading volume, with a latest financing balance of 3.18 million yuan, representing 0.47% of the circulating market value [2]. - The stock's first-day performance is part of a broader trend observed in newly listed stocks, with various companies showing notable first-day price increases and financing activities [3].

Core Viewpoint - Jiangsu Jingchuang Electric Co., Ltd. (stock code: 920035.BJ) was listed on the Beijing Stock Exchange, with a closing price of 52.12 yuan, marking a 330.74% increase from the opening price of 51.00 yuan, and a total market capitalization of 3.015 billion yuan [1]. Company Overview - Jingchuang Electric specializes in the research, production, and sales of intelligent controllers for cold chain equipment, pharmaceutical and food cold chain monitoring recorders, heat pump testing instruments, and environmental particulate matter detection instruments, along with providing IoT and cloud-based system solutions [1]. Shareholding Structure - Before the issuance, the largest shareholder, Li Chaofei, held 19,379,800 shares (44.66% ownership). His spouse, Li Min, held 12,217,700 shares (28.16%), and their daughter, Li Xiaofan, held 2,982,500 shares (6.87%). Together, they controlled 34,580,000 shares, accounting for 79.70% of the total shares [1]. - Post-issuance, Li Chaofei's shareholding decreased to 33.50%, while Li Min's and Li Xiaofan's holdings were 21.12% and 5.16%, respectively. The family collectively controlled 59.78% of the voting rights [2]. Financial Performance - From 2012 to 2024, Jingchuang Electric's revenue grew from 396.34 million yuan in 2022 to 498.80 million yuan in 2024, with net profits increasing from 48.74 million yuan to 55.36 million yuan during the same period [5]. - For the first nine months of 2025, the company reported a revenue of 402.86 million yuan, a year-on-year increase of 9.48%, and a net profit of 44.35 million yuan, up 3.47% [8]. Fundraising and Investment Projects - The company raised a total of 174.97 million yuan from the issuance, with a net amount of 144.99 million yuan after deducting issuance costs. The funds will be allocated to core production line upgrades and the establishment of an intelligent instrument R&D center and cold cloud platform [3][4]. - The total investment for the core production line upgrade project is 112.25 million yuan, while the intelligent instrument R&D center and cold cloud platform project is estimated at 67.14 million yuan [4]. Future Projections - Jingchuang Electric anticipates a revenue range of 523.74 million to 573.62 million yuan for 2025, with a net profit forecast of 58.91 million to 64.80 million yuan [8].

Core Viewpoint - N Jingchuang (920035) was listed on the Beijing Stock Exchange today, opening at 51.00 yuan, representing a 321.49% increase from its issue price of 12.10 yuan [1] Company Overview - N Jingchuang specializes in the research, production, and sales of cold chain equipment smart controllers, pharmaceutical and food cold chain monitoring recorders, heat pump testing instruments, and environmental particulate matter detection instruments [1] - The company also provides IoT and cloud-based system solutions [1] Listing Details - The company’s listing application was accepted by the Beijing Stock Exchange on June 24, 2024, taking a total of 526 days from acceptance to listing [1] - A total of 14.46 million shares were publicly issued at an issue price of 12.10 yuan, with an earnings per share (EPS) ratio of 13.47 times [1] - Strategic placement accounted for 1.446 million shares, or 10% of the initial issuance [1] Subscription Statistics - The effective subscription amount for the online issuance was 5,955,190.40 million shares, resulting in a subscription multiple of 4,575.99 times [1] - The number of effective subscription accounts reached 572,000, with an allocation ratio of 0.02% for online subscriptions [1] Financial Performance - The projected net profits for the company from 2022 to 2024 are 48.74 million yuan, 55.36 million yuan, and 58.91 million yuan, respectively [2]

Core Viewpoint - Jingchuang Electric (920035) has been listed on the Beijing Stock Exchange, focusing on the development, production, and sales of cold chain equipment smart controllers, pharmaceutical and food cold chain monitoring recorders, heat pump testing instruments, and environmental particulate matter detection instruments [1][2]. Group 1: Company Ownership Structure - Before the issuance, the largest shareholder, Li Chaofei, directly held 19,379,800 shares, accounting for 44.66% of the company [1]. - After the issuance, Li Chaofei's shareholding decreased to 19,379,800 shares, representing 33.50% of the company [2]. - Li Chaofei's spouse, Li Min, holds 12,217,700 shares (21.12%), and their daughter, Li Xiaofan, holds 2,982,500 shares (5.16%), collectively controlling 34,580,000 shares, which is 59.78% of the voting rights post-issuance [2]. Group 2: Fundraising and Project Allocation - The total amount raised by Jingchuang Electric is 174.966 million yuan, with a net amount of 144.986 million yuan after deducting issuance costs [2]. - The raised funds will be allocated to core production line intelligent upgrades, the establishment of a smart instrument R&D center, and the construction of a cold cloud platform [2].

Group 1 - The core viewpoint of the news is that Jingchuang Electric (920035) will be listed on the Beijing Stock Exchange on December 2, while simultaneously delisting from the New Third Board [1] - Jingchuang Electric's issuance price is set at 12.10 yuan per share, with a total of 14.46 million shares issued, raising a total of 175 million yuan [1] - The raised funds will be allocated for the intelligent upgrade of core production lines and the construction of a smart instrument research and development center and cold cloud platform [1] Group 2 - Jingchuang Electric's main business includes the research, production, and sales of smart controllers for cold chain equipment, pharmaceutical and food cold chain monitoring recorders, heat pump testing instruments, and environmental particulate matter detection instruments [3] - The company has 28 years of experience in cold chain IoT research and supporting services, with an annual production capacity of nearly 7.6 million smart terminal devices [3] - The company is recognized as a leading supplier of life sciences and food cold chain IoT in China, holding various accolades such as a national-level specialized and innovative small giant and a post-doctoral research workstation [3] Group 3 - The company's projected operating revenues for 2022, 2023, and 2024 are 402 million yuan, 435 million yuan, and 499 million yuan, respectively [3] - The projected net profits attributable to the parent company for the same years are 48.75 million yuan, 55.36 million yuan, and 58.91 million yuan, respectively [3]

Group 1: Company Overview - Jiangsu Jingchuang Electric Co., Ltd. specializes in the research, production, and sales of intelligent controllers for cold chain equipment, monitoring and recording instruments for pharmaceuticals and food cold chains, detection instruments for heat pumps, and environmental particulate matter detection instruments [1] - The company also provides IoT and cloud-based system solutions [1] Group 2: Shareholding Structure - As of the signing date of the prospectus, the largest shareholder, Li Chaofei, directly holds 44.66% of the company's shares, making him the controlling shareholder [2] - Li Chaofei's spouse, Li Min, holds 28.16%, and their daughter, Li Xiaofan, holds 6.87%, collectively owning 79.70% of the company [2] - Li Chaofei has been the legal representative, chairman, and general manager, while Li Min serves as vice chairman, indicating significant influence over the company's strategic decisions [2] Group 3: Fundraising and Financials - The company plans to raise CNY 175 million for projects including "core production line intelligent upgrade" and "intelligent instrument R&D center and cold cloud platform construction" [2] - The expected total amount raised from the public offering is CNY 174.97 million, with net proceeds estimated at CNY 144.99 million after deducting issuance costs of CNY 29.98 million [3]

Group 1: New Stock Offering - Jingchuang Electric will start subscription on November 18, with an issue price of 12.10 yuan and a price-to-earnings ratio of 13.47 times. The total fundraising is expected to be 175 million yuan [1] Group 2: Financial Market Cooperation - The fourth China-Germany high-level financial dialogue welcomed qualified Chinese and German enterprises to participate in each other's derivatives markets, aiming to enhance market depth, liquidity, and stability [3] Group 3: Industry Development Initiatives - Hubei Province is focusing on developing the Beidou industry by integrating it with low-altitude economy, humanoid robots, and artificial intelligence, aiming to enhance the overall competitiveness of the Beidou industry [4] - Guangdong Province has issued a plan to accelerate financial support for the elderly care service system, encouraging banks to develop long-term credit products tailored for elderly care facilities [5] Group 4: Automotive Industry - The China Automobile Industry Association called for the maintenance of normal export order and interests in the automotive industry, emphasizing the importance of self-discipline in internationalization efforts [6] Group 5: Cosmetics Industry - The National Medical Products Administration has released opinions to foster the development of internationally competitive domestic cosmetic brands, encouraging local regulatory bodies to support industry innovation [7] Group 6: Fiscal Revenue - From January to October, the national general public budget revenue reached 186.49 billion yuan, with a year-on-year growth of 0.8%. Tax revenue increased by 1.7%, while non-tax revenue decreased by 3.1% [8] Group 7: Semiconductor Sector - The semiconductor index has seen a year-to-date increase of 40.63%, with the total A-share market value reaching 5.76 trillion yuan, reflecting significant growth in leading semiconductor stocks [9]

Core Viewpoint - The company specializes in the research, production, and sales of intelligent controllers for cold chain equipment, monitoring instruments for pharmaceuticals and food, and environmental particle detection instruments, while also providing IoT and cloud-based system solutions [3][4]. Financial Performance - The company's revenue is projected to increase from 4.35 billion in 2023 to 4.99 billion in 2024, reflecting a growth of approximately 14.74% [4]. - Net profit is expected to rise from 0.55 billion in 2023 to 0.59 billion in 2024, indicating a growth of about 7.27% [4]. - The net cash flow from operating activities is anticipated to increase from 1.39 billion in 2023 to 1.57 billion in 2024 [4]. Industry Context - The company operates within the cold chain logistics sector, which is supported by national industrial policies and the ongoing development of the cold chain logistics industry [8]. - The government has introduced various policies to encourage and support the intelligent controller industry, creating a favorable external environment for growth [8]. Competitive Position - The company holds 28 invention patents and 185 utility model patents, showcasing its strength in research and innovation [8]. - As of September 15, 2025, the company has a total of 205 authorized patents, including 33 design patents and 91 software copyrights, indicating a robust intellectual property portfolio [8].

Core Viewpoint - Jiangsu Jingchuang Electric Co., Ltd. is set to raise 250 million yuan for various projects, indicating a growth trajectory in revenue and profit from 2022 to 2024 [2][3]. Group 1: Financial Performance - The company's projected revenues for 2022, 2023, and 2024 are 396.34 million yuan, 434.50 million yuan, and 498.80 million yuan, respectively, showing a year-on-year growth trend [2]. - The revenue for 2024 is expected to increase by 14.80% compared to 2023 and by 25.85% compared to 2022 [2]. - The net profit for 2024 is projected to be 58.91 million yuan, reflecting a growth of 6.40% from 2023 and 20.87% from 2022 [2]. Group 2: Business Overview - The main business of Jingchuang Electric includes the research, production, and sales of smart controllers for cold chain equipment, monitoring instruments for pharmaceuticals and food cold chains, heat pump testing instruments, and environmental particulate matter detection instruments [3]. - The company also provides IoT and cloud-based system solutions, indicating a focus on technological advancement and innovation in its product offerings [3].