Group 1 - The core point of the news is that Shanxi Tengmao Technology Co., Ltd. has initiated the IPO guidance for the Beijing Stock Exchange, with West Securities as the guiding institution and Beijing Kangda Law Firm as the legal advisor [1] - Tengmao Technology specializes in the research, production, and sales of catalytic cracking catalysts, additives, and molecular sieves, positioning itself within the refining catalyst industry [2] - In the first half of 2025, Tengmao Technology achieved revenue of 141 million yuan, representing a year-on-year growth of 40.22%, and a net profit attributable to shareholders of 33.698 million yuan, reflecting a year-on-year increase of 48.76% [2] Group 2 - This marks the second attempt by Tengmao Technology to pursue an IPO on the Beijing Stock Exchange, having previously submitted an application in October 2023, which was later withdrawn in March 2024 [2] - The company had a significant supplier relationship with Chenhao Chemical, which was its largest supplier in 2020 and 2021, with procurement amounts of 42.8641 million yuan and 38.7276 million yuan, respectively, accounting for 28.93% and 26.92% of operating costs [4] - The cooperation model with Chenhao Chemical changed in 2022 from purchasing finished products to a processing commission model, with Chenhao Chemical's products primarily sold to Tengmao Technology [4][6]