Core Viewpoint - Bohua Technology has been waiting for over three years since its IPO application was accepted, with no registration submitted yet despite passing the review in January 2023 [1] Company Overview - Bohua Technology is a high-tech enterprise focused on critical equipment health management, primarily engaged in the R&D, production, and sales of military equipment and industrial monitoring systems [3] - The company has changed its auditing firm from Tianzhi International to Zhongxinghua due to penalties against the former, aiming to continue the IPO review process [3] Financial Performance - From 2020 to the first half of 2023, Bohua Technology's revenue was 168 million, 296 million, 450 million, and 140 million respectively, with growth rates of 30.23%, 76.19%, 52.03%, and 137.29% [4] - The net profit in 2021 was 68.66 million, a 135.87% increase from 29.11 million in 2020, but growth slowed to 28.81% in 2022 with a profit of 88.45 million [4] - In the first half of 2023, the company reported a net profit of only 456,900, with a net profit margin of 0.8% [4] - The company has reported negative cash flow from operating activities for 2021, 2022, and the first half of 2023, totaling -33.44 million, -63.26 million, and -41.78 million respectively [5] Funding and Investment Plans - Bohua Technology plans to raise 850 million for various projects, including 98 million for the "Intelligent Operation and Maintenance Product Production Base" and 211 million for the "Next-Generation Equipment Health Management System" [9][10] - The company intends to purchase a property in Beijing for 100 million, which will be used for R&D and project development [10][11] Ownership Structure - The controlling shareholder and actual controller of Bohua Technology is Gao Hui, who holds 39.33% of the shares, while his mother, who is over 80 years old, holds 4.64% [7]