Summary of Key Points Core Viewpoint - The Beijing Stock Exchange (BSE) has seen a steady increase in trading volume and value, with a total of 268 listed companies as of July 20, 2025, indicating a growing market presence and activity [2][3]. Trading Activity - As of the week of July 14-20, 2025, the BSE recorded a trading volume of 5.148 billion shares, reflecting a week-on-week increase of 1.04% [3]. - The total trading value for the same week was 109.284 billion yuan, which is a 1.34% increase compared to the previous week [3]. - The average trading price during this period was 21.23 yuan, showing a slight increase of 0.30% [3]. - The BSE 50 Index experienced a minor decline of 0.15%, closing at 1420.81 points, with 23 stocks rising and 27 falling [3]. New Stock Issuance - During the week of July 14-20, 2025, one company received approval for IPO registration, while no new companies submitted registration or were listed [6][8]. - As of July 20, 2024, there are 159 companies awaiting review, with 58 under "accepted," 89 under "inquiry," 2 approved by the listing committee, and 10 submitted for registration [7]. Company Specifics - Hongyuan Electric Wire Co., Ltd. received approval for an IPO, planning to issue up to 30.6818 million shares, with intended fundraising of approximately 282 million yuan for various projects [10]. - The company reported revenues of 131 million yuan, 146 million yuan, and 207 million yuan for the years 2022 to 2024, with net profits of 50 million yuan, 64 million yuan, and 102 million yuan respectively [10]. Counseling and Termination - One company entered the counseling phase, while four companies terminated their counseling applications during the week of July 14-20, 2025 [15][19]. - Notable companies that terminated counseling include Xinhang Precision, Anyi Extreme, Jintaiyang, and Tianyun Co., each with specific business focuses ranging from automotive parts to energy technology [20][22][23][24].

Core Viewpoint - Beijing Qianjing Wuyou Electronic Technology Co., Ltd. has submitted a report for public offering and listing on the Beijing Stock Exchange, aiming to become a key player in the power IoT and smart distribution field [1][2] Company Overview - Founded in 2009, Qianjing Wuyou has a registered capital of 100 million yuan and is recognized as a high-tech enterprise and a national "specialized, refined, and innovative" small giant [1] - The company holds various qualifications including integrated circuits, CMMI3, and system integration, with proprietary intellectual property in chips, software, and artificial intelligence [1] - Qianjing Wuyou's main business includes power IoT carrier communication products, metering products, distribution network products, and digital solutions [1] Financial Performance - In 2024, the company achieved a revenue of 701.7 million yuan, representing a year-on-year growth of 20.54% - The net profit for the same year was 107.9 million yuan, with a year-on-year increase of 23.42% [1] Market Potential - The global power line carrier communication market is projected to reach 5.83 billion USD by 2029, driven by China's dual carbon goals and the demand for new power systems [2] - The global smart meter market is expected to grow from 7.8 billion USD in 2022 to 10.7 billion USD by 2027, with a compound annual growth rate of 6.5% [2] - Qianjing Wuyou's core products are widely used in smart meters, distribution network automation, and charging piles, positioning the company to benefit from the industry's growth [2] Shareholding Structure - The actual controller of the company, Jing Zhijun, directly holds 32.34% of the shares and indirectly controls an additional 22.22% through Deqing Jianyang Enterprise Management Partnership, totaling 54.56% of the voting rights [2] Strategic Implications - The initiation of the listing process on the Beijing Stock Exchange marks a new phase of capitalization for Qianjing Wuyou, which is expected to enhance its R&D capabilities and market competitiveness [2] - With the accelerating transformation of the global energy structure and the growing demand for smart grids and digitalization in power, Qianjing Wuyou is poised for rapid development and aims to become a significant player in the power IoT sector [2]