IPO and Refinance Review Results - During the week of September 15-19, three companies were reviewed for IPO, with two approved and one postponed [1] - The postponed company, Youxun Co., Ltd., is the third company this year to face a delay in the Sci-Tech Innovation Board IPO review [1] - Yuan Chuang Co., Ltd. and Xin Guang Yi Co., Ltd. were both approved for their IPOs, with proposed fundraising amounts of 485.13 million yuan and 638.38 million yuan respectively [1][2] Company Profiles - Youxun Co., Ltd. specializes in the research, design, and sales of optical communication front-end transceiver chips, with a focus on domestic market leadership in optical communication chip design [2][3] - Yuan Chuang Co., Ltd. is engaged in the research, production, and sales of rubber track products, primarily serving agricultural and engineering sectors [9][10] - Xin Guang Yi Co., Ltd. focuses on high-performance special functional materials, including anti-overflow special films [12][13] Financial Performance - Youxun Co., Ltd. reported a net profit of 47.96 million yuan for the last year, with total assets of 844.94 million yuan as of June 30, 2025 [5] - Yuan Chuang Co., Ltd. achieved a net profit of 154.66 million yuan for the last year, with total assets of 1,989.88 million yuan as of December 31, 2024 [11] - Xin Guang Yi Co., Ltd. reported a net profit of 115.70 million yuan for the last year, with total assets of 836.05 million yuan as of December 31, 2024 [14] Fundraising Projects - Youxun Co., Ltd. plans to invest 80.91 million yuan in projects related to next-generation access networks and high-speed data center chips [6] - Yuan Chuang Co., Ltd. intends to use 63.84 million yuan for functional materials projects [15] - Xin Guang Yi Co., Ltd. aims to allocate 63.84 million yuan for its functional materials project [15] Review Meeting Inquiries - Youxun Co., Ltd. faced inquiries regarding the sustainability of its operating performance and potential risks related to declining gross margins [7] - Yuan Chuang Co., Ltd. was questioned about market competition and the impact of various factors on its revenue and profit margins [12] - Xin Guang Yi Co., Ltd. was asked to clarify the sustainability of its business performance based on its core technologies and market demand [16]

公开数据显示，瑞可达预计2025年上半年实现归属于母公司所有者的净利润15,100万元至17,100万元，较上年同期大幅增长 132.44%至163.22%；扣除非经常性损益后的净利润预计为14,100万元至16,100万元，同比增长135.83%至169.28%。 （校对/黄仁贵） 据悉，瑞可达专注于连接系统产品的设计开发和制造。主要产品分为连接器类、线缆组件类、系统模块类等，广泛应用于数据 通信、新能源汽车、储能/清洁能源、工业控制、医疗设备、轨道交通装备等领域。 8月4日，瑞可达发布公告称，近期有媒体关注到公司有应用于人形机器人的产品，已小批量供货中。截至目前，公司人形机器 人产品经过前期的研发，现已开始小批量供货，预计2025年该业务板块的销售收入约1000万元，占2024年营业收入比例为 0.41%。 公告称，由于目前尚处于产业初期，在公司的实际业绩中占比较小，该业务板块当年实现的销售收入尚存在不确定性。 ...

Core Viewpoint - Suzhou Recodeal Interconnect System Co., Ltd. is issuing convertible bonds to raise funds not exceeding RMB 1 billion, with a focus on meeting the requirements of the Sci-Tech Innovation Board [1][4]. Group 1: Convertible Bond Issuance - The company plans to issue convertible bonds with a total amount not exceeding RMB 1 billion, which will be determined by the board of directors within this limit [1]. - The bonds will not be secured, which may pose repayment risks [1]. - The company has received a credit rating of AA- for both its entity and the bonds from China Chengxin International Credit Rating Co., Ltd. [1]. Group 2: Investor Participation and Commitments - The actual controller and major shareholders have committed not to participate in the bond subscription if they have sold company shares within six months prior to the announcement [2][3]. - They also promise to adhere to short-term trading regulations, refraining from selling company shares or bonds for six months after the issuance [2][3]. Group 3: Financial Performance and Risks - The company reported fluctuating revenues and net profits over the past three years, with revenues of RMB 162.51 million, RMB 155.50 million, and RMB 241.47 million, and net profits of RMB 25.32 million, RMB 13.66 million, and RMB 17.79 million respectively [5]. - The company faces risks from increasing competition in the new energy sector, potential overseas operational challenges, and significant accounts receivable [4][5][6]. Group 4: Dividend Policy - The company has a stable profit distribution policy, prioritizing cash dividends, with a commitment to distribute at least 10% of the available profits as cash dividends annually [7][8]. - Recent cash dividends included RMB 58.84 million for 2022 and RMB 15.75 million for 2023, with a cash dividend payout ratio of 31.45% for 2024 [14]. Group 5: Future Outlook and Strategic Measures - The company is focused on long-term sustainable development and has established measures to ensure the effective use of raised funds, aiming to enhance shareholder returns [16][17]. - The company is committed to improving its governance structure to protect the rights of all shareholders, especially minority shareholders [16][17].