Group 1 - Shanghai Stock Exchange's Sci-Tech Innovation Board had 1 company listed, while Shenzhen Stock Exchange's ChiNext had 1 company listed during November 18-24 [2] - Hengkun New Materials focuses on key materials for integrated circuits, achieving a first-day stock price increase of 310.61%, closing at 50.54 CNY per share, a 237.16% increase from the issue price of 14.99 CNY, with a total market value of approximately 22.7 billion CNY [2] - Nanwang Digital provides digital construction solutions for the power energy sector, with a first-day stock price increase of 224.78%, closing at 20.51 CNY per share, a 260.46% increase from the issue price of 5.69 CNY, with a total market value of approximately 65.2 billion CNY [2] Group 2 - Two companies passed the listing committee review on the Shanghai Stock Exchange's Sci-Tech Innovation Board, while no companies were reviewed on the Shenzhen Stock Exchange during November 18-24 [3] - Zhenshi Co., Ltd. specializes in fiber-reinforced materials for clean energy applications, providing innovative solutions across various industries [3] - Easy Vision focuses on machine vision equipment for automotive manufacturing, providing solutions for various manufacturing processes [4] Group 3 - One company submitted a listing application on the Shanghai Stock Exchange's Sci-Tech Innovation Board, while one company submitted an application on the Shenzhen Stock Exchange's ChiNext during November 18-24 [4] - Beidou Institute specializes in satellite navigation and aerospace control technologies, with an IPO application accepted on November 21, aiming to raise 709 million CNY for product upgrades and research projects [5] - Financial projections for Beidou Institute show revenues of 243 million CNY, 285 million CNY, and 325 million CNY from 2022 to 2024, with net profits of approximately 76.18 million CNY, 81.71 million CNY, and 82.94 million CNY respectively [6] Group 4 - Green Bio focuses on the research, production, and sales of fragrance products, with an IPO application accepted on November 21, aiming to raise 690 million CNY for production projects and R&D upgrades [10] - Financial projections for Green Bio show revenues of 631 million CNY, 735 million CNY, and 961 million CNY from 2022 to 2024, with net profits of approximately 68.14 million CNY, 92.92 million CNY, and 150 million CNY respectively [11] Group 5 - Hong Kong Stock Exchange had 1 company listed during November 18-24 [13] - Innovation Industry focuses on aluminum industry chain, with a first-day stock price increase of 32.76%, closing at 14.59 HKD per share, with a total market value of approximately 29.2 billion HKD [14] Group 6 - Six companies passed the hearing on the Hong Kong Stock Exchange's main board during November 17-24 [18] - Notable companies include Yujian Xiaomian, a Chinese noodle restaurant operator, and Jinyan High-tech, specializing in coal series kaolin [19][20] Group 7 - Several companies submitted listing applications on the Hong Kong Stock Exchange during November 17-24, including Kanop, Dongshan Precision, and NobiKan [25][31][34] - Kanop focuses on industrial robots and aims to enhance R&D capabilities and expand market presence [31] - Dongshan Precision is a leading global PCB supplier, with plans to upgrade production facilities and repay debts [34] Group 8 - NobiKan specializes in AI and digital twin technologies, with a focus on transportation and energy sectors [39] - Financial projections for NobiKan show revenues of 253 million CNY, 362 million CNY, and 403 million CNY from 2022 to 2024, with net profits of approximately 6.3 million CNY, 8.9 million CNY, and 11.5 million CNY respectively [40] Group 9 - Mandi International focuses on skin health and weight management solutions, with a strong market presence in hair loss treatment products [44] - Financial projections for Mandi International show revenues of 982 million CNY, 1.23 billion CNY, and 1.46 billion CNY from 2022 to 2024, with net profits of approximately 202 million CNY, 341 million CNY, and 390 million CNY respectively [45] Group 10 - Lingyi Intelligent Manufacturing aims to provide comprehensive intelligent manufacturing services, with a focus on AI hardware [47] - Financial projections for Lingyi show revenues of 34.5 billion CNY, 34.2 billion CNY, and 44.3 billion CNY from 2022 to 2024, with net profits of approximately 1.56 billion CNY, 2.01 billion CNY, and 1.76 billion CNY respectively [48] Group 11 - Hailan Home aims to optimize sales channels and enhance brand image through its IPO, with a strong market position in men's apparel [51] - Financial projections for Hailan show revenues of 17.9 billion CNY, 20.8 billion CNY, and 20.2 billion CNY from 2022 to 2024, with net profits of approximately 2.06 billion CNY, 2.92 billion CNY, and 2.19 billion CNY respectively [53]

Group 1: New IPOs - This week, there are two new stocks available for subscription: one from the Shenzhen main board and one from the Beijing Stock Exchange [1] - The Beijing Stock Exchange new stock, Jingchuang Electric, has an issue price of 12.1 yuan and a price-to-earnings ratio of 13.47, while the industry average dynamic P/E ratio is 39 [2] - The Shenzhen main board new stock, China Uranium Industry, is a key player in China's natural uranium supply, focusing on the comprehensive utilization of natural uranium and radioactive co-mineral resources [2] Group 2: Financial Performance - China Uranium Industry reported revenues of 10.535 billion yuan, 14.801 billion yuan, 17.279 billion yuan, and 9.551 billion yuan for the years 2022 to the first half of 2025, with net profits of 1.520 billion yuan, 1.511 billion yuan, 1.712 billion yuan, and 871 million yuan respectively [2] - The compound annual growth rates for revenue and net profit over the last three years are 28.07% and 6.12%, indicating stable growth [2] Group 3: Fundraising and Investment Plans - China Uranium Industry plans to raise 4.11 billion yuan through its IPO, which will be used for natural uranium capacity construction, comprehensive utilization of radioactive co-mineral resources, and to supplement working capital [3] - The projects aim to significantly enhance domestic natural uranium supply security and promote the large-scale and intensive development of the radioactive co-mineral resources industry [3] Group 4: Other IPOs - Five companies are scheduled for IPO meetings this week, including Zhenstone Co., Ltd. and Yisiwei, which are targeting the Shanghai and Science and Technology Innovation boards respectively [4] - Zhenstone Co., Ltd. specializes in the research, production, and sales of fiber-reinforced materials in the clean energy sector, holding over 35% of the global market share in wind power fiberglass fabric [4] - Yisiwei focuses on machine vision products for the automotive manufacturing sector, holding the top market share in China [5]

Summary of Upcoming IPOs and Refinancing Core Viewpoint The upcoming week (November 17-21) will see five companies scheduled for IPO review, aiming to raise a total of 6.134 billion yuan. Additionally, one company is set for refinancing, targeting 2.5 billion yuan. IPO Companies Overview - **Zhejiang Zhenstone New Materials Co., Ltd.** plans to raise 3.981 billion yuan, with a net profit of 607.464 million yuan in the last year. The company operates in the non-metallic mineral products industry [2][8]. - **Yisiwei Technology Co., Ltd.** aims to raise 1.214 billion yuan, with a net profit of 84.515 million yuan. The company specializes in manufacturing instruments and equipment [2][12]. - **Tongling Technology Co., Ltd.** is targeting 411.439 million yuan, with a net profit of 130.855 million yuan. The company is involved in the automotive manufacturing sector [2][18]. - **Jingqiang Technology Co., Ltd.** plans to raise 330 million yuan, with a net profit of 77.584 million yuan. The company focuses on electrical machinery and equipment manufacturing [2][21]. - **Aide Technology Co., Ltd.** is looking to raise 1.97 billion yuan, down from an initial target of 2.05 billion yuan, with a net profit of 84.516 million yuan [3][17]. Refinancing Overview - **Chunfeng Power** is set to raise 2.5 billion yuan through a public offering of convertible bonds, with a net profit of 149.386 million yuan in the last year [2][25]. Financial Performance Highlights - **Zhenstone Co.** reported total assets of 1.094 billion yuan and a net profit margin of 12.90% for the first half of 2025 [10]. - **Yisiwei Co.** has total assets of 755.614 million yuan, with a net profit margin of -1.08% for the first half of 2025 [13]. - **Tongling Co.** reported total assets of 1.232 billion yuan, with a net profit margin of 11.86% for the first half of 2025 [19]. - **Jingqiang Co.** has total assets of 1.182 billion yuan, with a net profit margin of 6.45% for the first half of 2025 [23]. - **Aide Co.** reported total assets of 652.059 million yuan, with a net profit margin of 7.28% for the first half of 2025 [16].

Core Viewpoint - The article discusses the challenges and advancements in the seismic safety of high dams in China, particularly in the context of increasing extreme weather events and seismic activity in the regions where these dams are located [2][3][5]. Group 1: Seismic Challenges and Standards - High dams in China are primarily located in seismically active regions, necessitating advanced seismic safety measures due to the combination of seismic forces and other loads such as water pressure and temperature changes [2][3]. - The current seismic design standards for dams in China are among the most advanced globally, having been revised post-Wenchuan earthquake to include checks for "maximum credible earthquakes" [3]. Group 2: Research and Innovations - Research led by experts like Professor Jin Feng focuses on the overall safety of river basins to prevent cascading disasters from dam failures, with improvements in monitoring and response mechanisms [3]. - Innovations in materials, such as high-performance concrete and self-healing concrete, are being explored to enhance the durability and safety of high dams [6][7]. Group 3: Intelligent Monitoring Systems - The deployment of intelligent dam systems equipped with thousands of sensors allows for real-time monitoring of stress, deformation, and other critical parameters, enabling rapid safety assessments after seismic events [7][8]. - The concept of "smart dams" is being developed, where dams will have sensing capabilities similar to smart home devices, enhancing their operational safety [8].