Group 1: YaoTai Co., Ltd. - YaoTai Co., Ltd. has received approval for its IPO application on June 27, 2025, marking a significant step for the LED lighting industry in the capital market [2][3] - The company, established in 2006, specializes in outdoor lighting products and has transitioned from OEM production to operating its own brands, including "LUTEC" and "UME" [3] - YaoTai's sales revenue is primarily from overseas markets, with foreign revenue projected at 463 million yuan, 469 million yuan, and 535 million yuan from 2022 to 2024, accounting for over 95% of its main business income [4] - The IPO aims to raise 372 million yuan, with 151 million yuan allocated for a production line technology upgrade project, 125 million yuan for a smart lighting base in Thailand, and the remainder for R&D and working capital [4][6] Group 2: HuaLai Technology Co., Ltd. - HuaLai Technology Co., Ltd. has also received approval for its IPO application on June 30, 2025 [7][9] - The company focuses on smart home products, providing customized solutions for brands like Xiaomi and Roku, and plans to raise 318 million yuan for a new generation of smart home cameras and R&D [9] - In 2024, HuaLai reported approximately 887 million yuan in revenue, a 14.91% decline year-on-year, while net profit increased by 2.3% to about 82.52 million yuan [10] - The company relies heavily on overseas markets, with 71.72% of its sales coming from abroad, particularly the U.S. market contributing 60.34% [10]