Core Viewpoint - Jiangsu Zhenhua Haike Equipment Technology Co., Ltd. (Zhenhua Haike) has completed its IPO counseling filing with the Jiangsu Securities Regulatory Bureau and plans to list on the Beijing Stock Exchange, with the counseling agency being CICC [2] Company Overview - Zhenhua Haike was established in 1979, has a history of 46 years, and has a registered capital of 114.5 million yuan. The company specializes in the research, production, sales, and technical services of pumps, motors for naval weaponry, marine environmental protection equipment, and fans [2] - The chairman and general manager, Wu Jin, directly holds 30.83% of the shares and controls a total of 80.84% of the voting rights through partnerships with Meihua Investment and Huazhen Investment [2] Performance Summary - In 2024, Zhenhua Haike's operating income is projected to be 579 million yuan, reflecting a growth rate of 4.10%. However, the net profit attributable to the parent company is expected to be 58 million yuan, showing a decline of 21.92% [5] - The company attributes the decline in net profit to increased sensitivity of military units and downstream military groups to military product pricing, rising copper prices, and additional provisions for credit impairment losses on accounts receivable in 2024. Despite this, the company expects to maintain stable revenue growth and continuous profitability in the future [5]