作者：杨溪 出品：洞察IPO 8月18日-8月24日，上交所有1家公司终止上市审核，深交所无公司终止上市审核。 | 数据来源：公开信息；图 | | --- | 表制作：洞察IPO 上交所&深交所 新 股 上 市 8月18日-8月24日，上交所、深交所均无公司上市。 通过上市委员会审议会议 8月18日-8月24日，上交所、深交所均无公司过会。 递交上市申请 8月18日-8月24日，上交所、深交所均无公司递交上市申请。 终止上市审核 1.福建德尔：国内能够同时制备氟化工基础材料、含氟特种气体、新能源锂电材料和半导体湿电子化学品的电子专用材料制造高科技企业。 港交所 新 股 上 市 8月18日-8月24日，港交所有1家公司上市。 | 数据来源：公开信息；图表制作：洞察 | | --- | IPO 1.天岳先进：是一家专注于碳化硅单晶衬底材料研发、生产和销售的科技型企业。上市首日股价收涨6.40%，截至8月25日收报45港元/股，较发行价42.8港 元/股涨5.14%，市值约329亿港元。 新 股 招 股 8月18日-8月24日，港交所有2家公司新股招股，其中1家于当周完成招股。 | | | 1.双登股份：是一家储能 ...

智通财经8月24日讯（编辑 冯轶）智通财经为您带来每周港股新股资讯。 据利弗莫尔证券显示，截至发稿，本周(8月18日-8月24日)有12家公司向港交所递表，另有两家公司招股，及一只新股上市。 先看递表，本周共有12家公司递表： 1）8月18日，星环科技(688031.SH)向港交所主板递表，海通国际为其独家保荐人。 招股书显示，沪鸽是一家专业的口腔材料公司，提供涵盖口腔临床类产品、口腔技工类产品及口腔数字化产品的多元化产品组合，适用于牙科核心专业领域 的多种应用场景。2024年，中国口腔材料市场占整体口腔医疗器械市场（包括口腔设备及器具）的42.2%，该市场具有高度分散的特点。同年，沪鸽在中国 口腔材料市场按收入计的市场占有率为1.3%。 招股书显示，星环科技是一家AI基础设施软件提供商，通过深度融合人工智能、大数据与云技术，助力企业高效构建AI基础设施软件，推动各行业智能化 转型与商业模式创新。按收入计，2024年公司在中国AI基础设施软件市场排名第五，亦为最大的纯AI基础设施软件提供商。 财务方面，于2022年度、2023年度、2024年度及2025年截至3月31日止三个月，星环科技实现收益分别约为3.7 ...

Core Viewpoint - Starry Technology has submitted an IPO application to the Hong Kong Stock Exchange, despite having the smallest revenue among its peers and experiencing a decline in performance since its A-share listing [2][4]. Group 1: Company Performance - Starry Technology's revenue for 2024 is projected to be lower than its initial listing year in 2022, with figures of 3.71 billion yuan, down from 3.73 billion yuan in 2022 [6][18]. - The company has reported increasing losses over the years, with net profits of -2.71 billion yuan in 2022, -2.88 billion yuan in 2023, and -3.43 billion yuan in 2024, totaling over 9 billion yuan in losses [6][18]. - The company's revenue is significantly lower than its peers, with 2024 revenue figures for comparable companies being 8.88 billion yuan for Zhongwang Software, 51.21 billion yuan for Kingsoft Office, 20.43 billion yuan for Anheng Information, and 43.49 billion yuan for Qi Anxin-U [3][6]. Group 2: Financial Data Discrepancies - There are significant discrepancies between the financial data reported in Starry Technology's A-share announcements and its Hong Kong IPO prospectus, raising questions about the accuracy of its financial reporting [9][14]. - For instance, the revenue from direct sales was reported as 93.7% in the Hong Kong prospectus for 2024, while the A-share report indicated it was only 50.64% [11][14]. - The company's sales expense ratio is notably high at around 55%, which has not translated into revenue growth, as evidenced by a 24.31% decline in revenue for 2024 [17][18]. Group 3: Market Position and Strategy - Starry Technology aims to enhance its international brand image and leverage international capital markets through its Hong Kong listing, despite having less than 2.2% of its revenue coming from overseas in the past three years [5][6]. - The company has faced challenges in justifying the necessity of fundraising, especially after terminating a previous fundraising plan shortly before the IPO application [7][8].

Core Viewpoint - Xinghuan Information Technology (Shanghai) Co., Ltd. has submitted an application for listing on the Hong Kong main board, with Haitong International Capital as the sponsor [1] Group 1: Company Overview - The company is a leading provider of AI infrastructure software in China, integrating artificial intelligence, big data, and cloud technology to help enterprises efficiently build AI infrastructure software [1] - According to Frost & Sullivan, the company ranks fifth in the Chinese AI infrastructure software market by revenue in 2024 and is the largest pure AI infrastructure software provider [1]