Group 1 - Two companies withdrew their IPO applications last week, one from the Shanghai Stock Exchange and one from the Beijing Stock Exchange [1] - The companies that withdrew their applications are Fujian Del Technology Co., Ltd. and Hubei Chuda Intelligent Equipment Co., Ltd. [2] Group 2 - Fujian Del Technology is engaged in the research, production, and sales of fluorine-based new materials, including lithium battery materials and semiconductor wet electronic chemicals, and is recognized as a national high-tech enterprise [3] - The company's revenue from lithium battery materials significantly declined from 67,279.77 million yuan in 2022 to 20,509.45 million yuan in 2024, indicating a severe oversupply in the lithium battery sector [4] - The company's net profit dropped by 79.72% in 2023 compared to 2022, reflecting ongoing challenges in the market [4][5] Group 3 - Hubei Chuda Intelligent Equipment provides key equipment and intelligent system solutions for glass packaging and production, serving over 600 glass manufacturers globally [6] - The company's total assets increased from 266.14 million yuan in 2021 to 340.74 million yuan in 2023, while its net profit rose from 11.29 million yuan in 2021 to 44.56 million yuan in 2023 [7] - The company faces scrutiny over related party transactions with its largest supplier, which raises concerns about the fairness and rationality of these transactions [8]

Core Viewpoint - Hubei Chuda Intelligent Equipment Co., Ltd. has decided to terminate its application for public offering and listing on the Beijing Stock Exchange, following the submission of a withdrawal request after two rounds of inquiries [1][3]. Company Overview - Chuda Intelligent is a national high-tech enterprise and a "little giant" enterprise recognized for its specialization and innovation, providing key equipment and intelligent system solutions for glass packaging containers and products [3]. - The company ranks second in the overall scale of bottle-making machines in China's daily glass specialized equipment manufacturing industry and holds the first market share in the niche market of intelligent rotary bottle-making machines [3]. Financial Performance - The company reported revenues of 183 million yuan, 210 million yuan, and 300 million yuan for the years 2021, 2022, and 2023, respectively. The net profits attributable to the parent company were 11.29 million yuan, 14.82 million yuan, and 44.56 million yuan during the same period [3]. IPO Process and Inquiries - The IPO application was accepted by the Beijing Stock Exchange on June 26, 2024, but was withdrawn after two rounds of inquiries, which raised questions about the company's innovation characteristics and sustainability of performance growth [3][5]. - The first round of inquiries focused on the revenue contribution of core technology products, which exceeded 98% in each reporting period, including forming equipment and automated batching systems [6]. - The second round of inquiries required the company to explain the intelligent features of its products and their alignment with industry trends, as well as to provide a competitive analysis against domestic and international peers [8].

Core Points - The Beijing Stock Exchange has decided to terminate the review of Hubei Chuda Intelligent Equipment Co., Ltd.'s application for public stock issuance and listing [1][2] - Chuda Intelligent submitted a request to withdraw its application for public stock issuance to unspecified qualified investors [2] - The company is recognized as a national high-tech enterprise and a national-level specialized and innovative "little giant" enterprise [2] Company Overview - Chuda Intelligent provides key equipment and intelligent system solutions for glass packaging container and glass product manufacturing [2] - The controlling shareholder and actual controller of the company is Deng Jiahui, who holds 49.4717% of the shares directly and controls a total of 64.9946% of the shares [2] Stock Issuance Details - The company originally planned to issue up to 10.285714 million shares, with a public shareholder ownership ratio of no less than 25% post-issuance [3] - The intended fundraising amount was 21.49729 million yuan for the construction of an intelligent equipment production base and an intelligent equipment R&D center [3][4] Investment Projects - The total investment for the intelligent equipment production base construction project is 157.7359 million yuan, with the entire amount intended to be funded by the raised capital [4] - The intelligent equipment R&D center construction project has a total investment of 57.2370 million yuan, also fully funded by the raised capital [4]