Core Viewpoint - Wuhu Jiahong New Materials Co., Ltd. (referred to as "Jiahong New Materials") has completed its guidance report for its initial public offering (IPO) and plans to list on the Beijing Stock Exchange, with Dongwu Securities as the advisory institution [1]. Company Overview - Jiahong New Materials was established in 2002 and has focused on the research, production, and sales of electric heating products, including self-regulating heating cables, constant power heating cables, temperature controllers, accessories, and electric heating system engineering [1]. Financial Performance - In the first half of 2025, Jiahong New Materials achieved operating revenue of 172 million yuan, a year-on-year decrease of 1.84% - The net profit attributable to the parent company was 27.25 million yuan, down 22.82% year-on-year - The decline in net profit is attributed to a decrease in gross profit margin and an increase in period expenses [1]. Management and Control - The controlling shareholder of Jiahong New Materials is Xu Chunan, who directly holds 70.53% of the shares and indirectly controls an additional 4.78%, totaling 75.31% of the voting rights [1]. - Xu Chunan's mother, Wang Jianjun, holds 7.92% of the shares, bringing their combined direct ownership to 78.45% [1]. - Xu Chunan serves as the chairman and general manager of Jiahong New Materials, while Wang Jianjun is a board member, indicating their significant influence in the company's decision-making [2]. Key Personnel Background - Xu Chunan, born in November 1983, has a master's degree from HEC Paris and has held various management positions within the company since 2005, including chairman and general manager since August 2016 [2]. - Wang Jianjun, born in August 1956, has a background in the rubber and cable industry, having held various roles from cashier to factory manager before becoming a board member of Jiahong New Materials [3].

Core Viewpoint - Jia Hong New Materials Co., Ltd. is preparing for an initial public offering on the Beijing Stock Exchange, with a focus on electric heating products, despite a decline in revenue and net profit in the first half of 2025 [1][2] Group 1: Company Overview - Jia Hong New Materials was established in 2002 and specializes in the research, production, and sales of electric heating products, including self-regulating heating cables and constant power heating cables [1] - The company reported a revenue of 172 million yuan in the first half of 2025, a year-on-year decrease of 1.84% [1] - The net profit attributable to the parent company for the same period was 27.25 million yuan, down 22.82% year-on-year [1] Group 2: Financial Performance - The decline in net profit is attributed to a decrease in gross margin and an increase in period expenses [1] - Jia Hong New Materials plans to optimize its product structure, strengthen cost control, and improve operational efficiency to enhance profitability [1] - During the previous IPO application period, the company recorded intermediary fees of approximately 10 million yuan, which will be recognized as current expenses in 2024, impacting net profit for that year [2] Group 3: IPO Process - The company applied for the ChiNext board in June 2022, received approval in April 2023, and withdrew the application in December 2024 [1] - The company has been advised to enhance the training and learning of its financial department to ensure accurate financial data [2]

Core Viewpoint - Wuhu Jiahong New Materials Co., Ltd. (hereinafter referred to as "Jiahong New Materials") is preparing for an IPO on the Beijing Stock Exchange after previously withdrawing its application for listing on the Shenzhen Stock Exchange [2][4]. Company Overview - Jiahong New Materials was established in 2002 and has focused on the research, production, and sales of electric heating products, including self-regulating heating cables and constant power heating cables [4][6]. - The company has undergone various stages of listing attempts, including a previous application for the ChiNext board that was accepted in June 2022 and approved in April 2023, but was later withdrawn in December 2024 [4][6]. Financial Performance - The company's revenue has shown consistent growth from 210 million yuan in 2020 to 354.52 million yuan in 2022, representing a year-on-year increase of approximately 18.5% [6]. - Net profit also increased from 41.27 million yuan in 2020 to 76.98 million yuan in 2022, reflecting a growth rate of about 46.5% [6]. Shareholding Structure - The controlling shareholder of Jiahong New Materials is Xu Chunan, who directly holds 70.53% of the shares and indirectly controls an additional 4.78%, totaling 75.31% of the voting rights [7][8]. - Xu Chunan's mother, Wang Jianjun, holds 7.92% of the shares, and together they control 78.45% of the company [8]. Key Personnel - Xu Chunan serves as the Chairman and General Manager of Jiahong New Materials, while Wang Jianjun is a board member, indicating their significant influence in the company's decision-making [8][10]. - Xu Zhongting, the Chief Engineer, is a core technical personnel with a total compensation of 955,300 yuan from 2020 to 2022 [9].