Core Viewpoint - Zhengzhou Mingyang Window Decoration Technology Co., Ltd. (Mingyang Technology) is progressing with its IPO guidance on the Beijing Stock Exchange, focusing on the development, production, and sales of functional building interior shading products [2] Company Overview - Mingyang Technology was established in 2001 with a registered capital of 53.91 million yuan, specializing in products such as rainbow curtains, roller blinds, pleated curtains, and honeycomb shades [2] - The actual controllers of the company are Zhang Nianqing and Han Ling, who collectively control 95.71% of the voting rights [2] Management Team - Zhang Nianqing, aged 62, has a background in mining and has held various positions in the company since its inception [3] - Han Ling, aged 58, has a teaching background and has been involved in the company since 2002, currently serving as the Executive Vice President [3] - Their son, Zhang Han, serves as the Deputy General Manager and has experience in overseas business operations [3] Financial Performance - The company's revenue and net profit from 2022 to 2024 are as follows: - 2022: Revenue of 278 million yuan, Net profit of 22.34 million yuan - 2023: Revenue of 347 million yuan, Net profit of 34.45 million yuan - 2024: Revenue of 293 million yuan, Net profit of 16.84 million yuan [3][4] - Revenue decreased by 15.6% in 2024 compared to 2023, while net profit saw a significant decline of 51.11% [4] - Over 90% of the company's main business income comes from overseas sales, primarily through online B2C platforms like Amazon, eBay, and Shopify [4] Market Challenges - Sales to the Russia-Ukraine region were around 10 million yuan in 2020 and 2021, but significantly decreased in 2022 [4]

Core Viewpoint - Zhengzhou Mingyang Window Decoration Technology Co., Ltd. (Mingyang Technology) is progressing with its IPO guidance on the Beijing Stock Exchange, with a focus on functional building interior shading products [2]. Company Overview - Mingyang Technology was established in 2001 with a registered capital of 53.91 million yuan, specializing in the research, production, and sales of functional interior shading products, including rainbow curtains, roller blinds, pleated curtains, and honeycomb shades [2]. - The actual controllers of the company are Zhang Nianqing and Han Ling, who collectively control 95.71% of the voting rights, holding 9.46% of the shares directly [2]. Management Profile - Zhang Nianqing, aged 59, is the Chairman and General Manager of Mingyang Technology, with a background in various roles including Deputy Mine Manager and positions in local enterprises [3][4]. Financial Performance - The company's total revenue for 2024 is reported at 293 million yuan, a decrease of 15.6% from 347 million yuan in 2023, while the net profit for 2024 is 16.84 million yuan, down 51.11% from 34.45 million yuan in 2023 [5]. - The revenue figures for the years 2022 to 2024 are 278 million yuan, 347 million yuan, and 293 million yuan respectively, indicating fluctuations in performance [5]. - Over 90% of the company's main business income comes from exports, primarily through overseas online B2C platforms such as Amazon, eBay, and Shopify [5].