Core Viewpoint - Guangdong Hengjin Metal Co., Ltd. has completed its IPO counseling work and is transitioning to a public offering on the Beijing Stock Exchange, shifting from its original plan to list on the Shenzhen Stock Exchange [5]. Financial Performance - In the first half of 2025, the company achieved a revenue of 674.38 million yuan, representing a year-on-year growth of 37.94% [3][4]. - The net profit attributable to shareholders reached 70.30 million yuan, an increase of 9.47% compared to the previous year [3][4]. - The gross profit margin decreased to 21.14% from 24.75% in the same period last year [4]. - The weighted average return on equity was 9.63%, down from 10.56% year-on-year [4]. Company Overview - Hengjin Metal specializes in the research, production, and sales of customized piping, valves, and other components for refrigeration systems used in air conditioning and cold chain logistics [3]. - The company's product offerings include copper fittings, aluminum fittings, and shut-off valves [3]. IPO Counseling - The IPO counseling was initiated on October 28, 2022, with Zhongtai Securities Co., Ltd. as the counseling institution [3]. - The company has decided to change its listing strategy to issue shares to unspecified qualified investors on the Beijing Stock Exchange [5].

Core Viewpoint - Guangdong Hengjin Metal Co., Ltd. has completed its IPO counseling work and is preparing for its listing on the Beijing Stock Exchange [1][3]. Group 1: Company Overview - Hengjin Metal specializes in the research, production, and sales of customized refrigeration system components, valves, and other accessories used in air conditioning and cold chain logistics [3]. - The company's main products include copper fittings, aluminum fittings, and shut-off valves [3]. Group 2: Financial Performance - In the first half of 2025, Hengjin Metal achieved a revenue of 674 million CNY, representing a year-on-year growth of 37.94% [4]. - The net profit attributable to shareholders was approximately 70 million CNY, with a year-on-year increase of 9.47% [4]. - The gross profit margin decreased to 21.14% from 24.75% in the same period last year [4]. - The weighted average return on equity was 9.63%, down from 10.56% year-on-year [4]. Group 3: Shareholding Structure - The actual controllers of the company are Sun Zhiheng, Sun Lingfeng, and Xiao Weiping, who collectively control 87.98% of the company through their holding in Junhui International [5][6]. - Sun Lingfeng serves as the chairman of the company and has held various positions within the group since 2004 [6][7]. - Sun Zhiheng and Xiao Weiping also hold significant shares in Junhui International, further consolidating their control over Hengjin Metal [5][6].

Core Viewpoint - Guangdong Hengjin Metal Co., Ltd. has completed its IPO counseling work and addressed issues related to the approval of fundraising investment projects [1][3] Group 1: IPO Counseling and Approval Status - The IPO counseling for Hengjin Metal started on October 28, 2022, with Zhongtai Securities as the counseling institution [1] - The counseling report highlighted issues with incomplete procedures for fundraising investment projects, specifically the "Energy Storage Liquid Cooling Plate Production Project" and the "Information System and Digital Factory Construction Project" [1][3] - As of the report date, all necessary approval procedures for the fundraising investment projects have been completed, including obtaining project filing and environmental impact assessment approvals [1] Group 2: Company Profile - Hengjin Metal is a high-tech enterprise focused on the research, production, and sales of customized fittings, valves, and other components used in refrigeration systems for air conditioning and cold chain logistics [3] - The company's main products include copper fittings, aluminum fittings, and shut-off valves [3]