Core Viewpoint - Shenyang Guantai Vacuum Technology Co., Ltd. has been approved for listing on the Beijing Stock Exchange, marking it as the 40th company to pass the review in 2026, with 29 from the Beijing Stock Exchange and 11 from the Shanghai and Shenzhen Stock Exchanges combined [1]. Company Overview - Guantai Vacuum specializes in the research, manufacturing, and sales of vacuum equipment, possessing integrated capabilities from independent design to manufacturing and delivery [1]. - The company plans to raise funds amounting to 168.15 million yuan (approximately 16.82 million) for projects including the production upgrade of vacuum melting furnaces and sintering furnaces, as well as the construction of a research and product display center [2]. Shareholding Structure - Liu Shungang directly holds 66.23% of Guantai Vacuum's shares and indirectly controls a total of 81.33% of the shares through related entities, making him the controlling shareholder and actual controller of the company [2]. IPO Details - Guantai Vacuum intends to publicly issue up to 17 million shares, or up to 19.55 million shares if the overallotment option is fully exercised, with the overallotment not exceeding 15% of the total shares issued [2].

Group 1 - The Beijing Stock Exchange's listing committee has decided to postpone the review of Shenyang Guantai Vacuum Technology Co., Ltd. on December 29, 2025 [1] - Guantai Vacuum is a high-tech enterprise focused on the research, development, manufacturing, and sales of vacuum equipment, with integrated capabilities from equipment design to delivery [2] - The company aims to raise 168.15 million yuan for projects including the production expansion of vacuum melting furnaces and sintering furnaces, as well as the construction of a research and product display center [2] Group 2 - The review raised concerns regarding the accuracy and sufficiency of revenue recognition, specifically for projects where delivery occurred over one year prior to acceptance [3] - The committee requested further clarification on contracts with delivery to acceptance times exceeding 15 months, including any negotiations regarding acceptance timelines and revenue recognition [4] - The issuer is required to provide details on the execution of contracts with Jiangsu Pacific Quartz Co., Ltd. and any similar situations that may have occurred during the reporting period [4]