Core Viewpoint - Zhengyang Technology has voluntarily withdrawn its IPO application, leading to the termination of its listing on the Shenzhen Stock Exchange, with the underwriting firm being Huatai United Securities [1] Company Overview - Zhengyang Technology is a global automotive parts and assembly supplier focused on continuous innovation in automotive electronics and key components [1] - The company specializes in the research, production, and sales of various sensors related to SCR post-treatment, urea tank assemblies, and related components, boasting a vertically integrated product system [1] Financial Performance - Revenue from 2021 to the first half of 2024: 2.327 billion, 1.929 billion, 2.299 billion, and 1.175 billion CNY respectively [1] - Net profit for the same periods: 288 million, 187 million, 196 million, and 124 million CNY respectively [1] - As of June 30, 2024, total assets amounted to 2.690 billion CNY, with total liabilities at 35.39% of total assets [2] Shareholder Structure - The actual controllers, Gu Yixin and Tian Hong, hold a combined 90.21% of the company's shares through Western Commerce and Dongguan Zhengsheng [2] Leadership Background - Gu Yixin, the chairman and general manager, has extensive experience in the industry, having held various managerial positions since 2004 [3] - Tian Hong, the vice-chairman, has a background in finance and has been involved in the company since its early days [4][5]

Group 1: Guangdong Zhengyang Sensor Technology Co., Ltd. IPO - The IPO application for Guangdong Zhengyang was terminated due to the withdrawal of the application by both the issuer and the sponsor [1][3] - The company focuses on the research, production, and sales of various sensors and components related to SCR post-treatment systems, with a comprehensive product system [5][6] - The actual controllers of the company are Taiwanese nationals, holding 94.88% of the voting rights [7] - The company reported a net profit of 1.236 billion yuan in the first half of 2024, with a projected revenue of 2.009 billion to 2.456 billion yuan for the full year [8][9] - The company plans to raise 1.2 billion yuan through the IPO, with significant investments in technology upgrades and new energy product development [13] Group 2: Guizhou Duocai New Media Co., Ltd. IPO - Guizhou Duocai's IPO application was also terminated after the issuer and sponsor withdrew the application, despite having received approval in March 2023 [1][14] - The company operates IPTV integrated broadcasting services under the exclusive authorization of Guizhou Radio and Television Station, which is also its controlling shareholder [16][18] - The company reported a net profit of over 200 million yuan in 2022, with a steady increase in revenue over the years [19][21] - The company has a high customer concentration, primarily serving three major telecom operators, which poses potential risks [23][24] - The planned fundraising amount for the IPO is approximately 897.68 million yuan, aimed at enhancing research and development capabilities [25]