Shanghai Stock Exchange and Shenzhen Stock Exchange
**New Stock Listings** From August 11-17, no companies listed on the Shanghai Stock Exchange; one company listed on the Shenzhen Stock Exchange ChiNext board.
Data Source: Public Information
1. Guangdong Construction Engineering: Primarily engaged in providing inspection and testing technical services in the construction engineering field. The stock closed up 418.45% on its first trading day, and as of August 18, closed at 36.97 yuan per share, up 463.57% from the issue price of 6.56 yuan per share, with a total market value of approximately 15.5 billion yuan.
**Listing Committee Approvals** From August 11-17, one company on the Shanghai Stock Exchange STAR Market passed the review; no companies passed on the Shenzhen Stock Exchange.
Data Source: Public Information
1. Xi'an Yicai: A 12-inch electronic-grade silicon wafer product and service provider, mainly engaged in the R&D, manufacturing, and sales of 12-inch silicon single crystal polished wafers and epitaxial wafers. Products are applied to memory chips, logic chips, image sensors, display driver chips, and power devices required for electronic communications, new energy vehicles, and other fields.
**IPO Applications Submitted** From August 11-17, one company submitted an IPO application to the Shanghai Stock Exchange STAR Market; no companies submitted applications to the Shenzhen Stock Exchange.
Data Source: Public Information
1. Linkz Instruments: A high-end test instrument equipment supplier, with main business in R&D, manufacturing, sales, and services of electronic measurement instruments and semiconductor test equipment.
**Linkz Instruments Disclosed Prospectus for Shanghai Stock Exchange STAR Market on August 15**
On August 15, Suzhou Linkz Instruments Co., Ltd. (hereinafter referred to as "Linkz Instruments") received approval for its STAR Market IPO, with CITIC Securities as the sponsor.
Linkz Instruments is a Chinese high-end test instrument equipment company, with main business in R&D, manufacturing, sales, and services of electronic measurement instruments and semiconductor test equipment. The company professionally provides high-speed, high-precision, and high-efficiency core test instrument equipment for global high-speed communication and semiconductor field users, helping AI, new energy, semiconductor, and other frontier technology industries improve product development and mass production efficiency. It is an important force in achieving domestic production and autonomous control of core basic instrument equipment in areas of major national strategic needs.
The prospectus shows that Linkz Instruments plans to issue no more than 25.6667 million shares, planning to raise 1.954 billion yuan, which will be used for next-generation optical communication test equipment R&D and industrialization construction projects, automotive chip test equipment R&D and industrialization construction projects, storage test equipment R&D and industrialization construction projects, digital test instrument R&D and industrialization construction projects, R&D center and manufacturing center construction projects (Phase I), and supplementary working capital projects.
In terms of financial data, from 2022 to 2024, Linkz Instruments achieved operating revenues of 214 million yuan, 276 million yuan, and 789 million yuan respectively, with net profits attributable to parent company of -38.07 million yuan, -55.3938 million yuan, and 140 million yuan respectively.
**Terminated Listing Reviews** From August 4-10, neither the Shanghai Stock Exchange nor Shenzhen Stock Exchange had companies terminate listing reviews.
**Hong Kong Stock Exchange**
**New Stock Listings** From August 11-17, 2 companies were listed on the Hong Kong Stock Exchange.
Data Source: Public Information
1. Sinovac Biotech-B: A vaccine company headquartered in China, committed to the R&D, manufacturing, and commercialization of innovative vaccines and traditional vaccines using new technological methods. The stock closed up 157.98% on its first trading day, and as of August 18, closed at HK$53.50 per share, up 314.73% from the issue price of HK$12.9 per share, with a market value of approximately HK$21 billion.
2. Sino Biopharm-B: Asia's first and globally third company to advance an original human long-acting glucagon-like peptide-1 (GLP-1) receptor agonist to the registration approval stage, committed to researching and developing innovative therapies for diabetes and other metabolic diseases. The stock closed up 206.48% on its first trading day, and as of August 18, closed at HK$52.60 per share, up 181.58% from the issue price of HK$18.68 per share, with a market value of approximately HK$24 billion.
**New Stock Offerings** From August 11-17, 1 company on the Hong Kong Stock Exchange conducted a new stock offering and completed it this week.
Data Source: Public Information
1. Tankeblue: A technology company focused on silicon carbide single crystal substrate material R&D, production, and sales.
**Listing Hearing Approvals** From August 11-17, 2 companies passed listing hearings on the Hong Kong Stock Exchange.
Data Source: Public Information
1. Jiaxin International: A tungsten mining company rooted in Kazakhstan, focusing on developing the Bakutar tungsten mine. 2. Aux Electric: A global professional air conditioning provider integrating design, R&D, production, sales, and services of high-quality household and central air conditioning.
**IPO Applications Submitted** From August 11-17, 7 companies submitted main board listing applications to the Hong Kong Stock Exchange, and 1 company submitted a GEM listing application.
Data Source: Public Information
1. Leshushii: A multinational hygiene products company focusing on rapidly developing emerging markets in Africa, Latin America, Central Asia, and other regions, mainly engaged in the development, manufacturing, and sales of baby diapers, baby pull-up pants, sanitary napkins, and wet wipes.
2. Hunan Junxin Environmental Protection Co.,Ltd.: An A-share listed company that provides comprehensive waste treatment and resource utilization professional solutions, including investment, management, and operation of green environmental energy projects.
3. Wolong Electric Group Co.,Ltd.: An A-share listed company that is a global electric drive system solution provider.
4. Creality: A global consumer-grade 3D printing product and service provider.
5. Flashback Technology: A Chinese company engaged in providing consumer electronics recycling services, specializing in second-hand mobile phones.
6. Huachen Biotechnology: A biopharmaceutical company headquartered in China, committed to developing therapies, focusing on developing protein drugs for indications with medical needs and market opportunities.
7. Different Group: A Chinese company focused on designing and selling childcare products.
8. Zhuoyou Zhimei: China's largest children and adolescent art training institution.
**Leshushii Disclosed Prospectus for Hong Kong Stock Exchange Main Board on August 12**
On August 12, Leshushii Limited (referred to as "Leshushii") submitted a prospectus to the Hong Kong Stock Exchange main board, with sponsors being China International Capital Corporation, CITIC Securities, and GF Securities (Hong Kong).
Leshushii is a multinational hygiene products company focusing on rapidly developing emerging markets in Africa, Latin America, Central Asia, and other regions, mainly engaged in the development, manufacturing, and sales of baby diapers, baby pull-up pants, sanitary napkins, and wet wipes.
According to Frost & Sullivan data, calculated by 2024 sales volume, the company ranks first in both African baby diaper and sanitary napkin markets, with market shares of 20.3% and 15.6% respectively; calculated by 2024 revenue, the company ranks second in both African baby diaper and sanitary napkin markets, with market shares of 17.2% and 11.9% respectively.
The prospectus shows that the funds raised from this issuance will be used by Leshushii to expand the company's overall production capacity and upgrade production lines; conduct marketing and promotional activities in Africa, Latin America, and Central Asia; strategic acquisitions of businesses in the hygiene products industry; upgrade the company's CRM system and gradually implement it in business operations across multiple countries; hire management consulting companies to analyze new markets and products and provide advice on strategy execution and corporate management; and working capital and general corporate purposes. Specific fundraising amounts were not disclosed.
In terms of financial data, from 2022 to 2024, Leshushii achieved operating revenues of $320 million, $411 million, and $454 million respectively, with annual profits of $18.39 million, $64.68 million, and $95.111 million respectively.
**Hunan Junxin Environmental Protection Co.,Ltd. Disclosed Prospectus for Hong Kong Stock Exchange Main Board on August 13**
On August 13, Hunan Junxin Environmental Protection Co.,Ltd. (referred to as "Hunan Junxin Environmental Protection") submitted a prospectus to the Hong Kong Stock Exchange main board, planning an "A+H" listing, with sponsors being China International Capital Corporation and CITIC Securities.
Hunan Junxin Environmental Protection Co.,Ltd. is an A-share listed company that went public on the Shenzhen Stock Exchange in 2022. The company provides comprehensive waste treatment and resource utilization professional solutions, including investment, management, and operation of green environmental energy projects.
According to Frost & Sullivan data, in terms of project scale, the Changsha Environmental Industry Park where the company's main business operations are located is one of the largest comprehensive environmental parks among peers in China.
The prospectus shows that the funds raised from this issuance will be used by Hunan Junxin Environmental Protection for overseas and domestic future projects related to waste comprehensive treatment and resource utilization; support the company's continuous R&D and innovation; general corporate purposes, including working capital needs. Specific fundraising amounts were not disclosed.
In terms of financial data, from 2022 to 2024, Hunan Junxin Environmental Protection achieved revenues of 1.548 billion yuan, 1.837 billion yuan, and 2.411 billion yuan respectively, with annual profits of 587 million yuan, 653 million yuan, and 686 million yuan respectively.
**Wolong Electric Group Co.,Ltd. Disclosed Prospectus for Hong Kong Stock Exchange Main Board on August 13**
On August 13, Wolong Electric Group Co.,Ltd. (referred to as "Wolong Electric Group") submitted a prospectus to the Hong Kong Stock Exchange main board, planning an "A+H" listing, with sponsors being China International Capital Corporation, Huatai International, and GF Securities (Hong Kong).
Wolong Electric Group Co.,Ltd. is an A-share listed company that went public on the Shanghai Stock Exchange in 2002. The company is a global electric drive system solution provider, committed to driving the future with technology and providing green power to the world.
Wolong Electric Group Co.,Ltd. focuses on R&D, production, sales, and services of electric drive system products and solutions, continuously providing global customers with five core segments including explosion-proof electric drive system solutions, industrial electric drive system solutions, HVAC electric drive system solutions, new energy transportation electric drive system solutions, and robot components and system applications.
The prospectus shows that the funds raised from this issuance will be used by Wolong Electric Group Co.,Ltd. to expand the company's production capacity and enhance the intelligence level, efficiency, and global coverage of production infrastructure; enhance global R&D capabilities, aiming to upgrade product platforms, promote technological innovation, and maintain long-term competitiveness of five core electric drive system solution series; strengthen the company's investment and business in emerging fields (mainly electric aviation and robot components); develop global sales and service networks to strengthen brand influence, enhance customer engagement, and strengthen distribution capabilities in domestic and international markets; general working capital for business flexible allocation, enabling the company to respond quickly and prudently to strategic opportunities and address unforeseen market changes. Specific fundraising amounts were not disclosed.
In terms of financial data, from 2022 to 2024, Wolong Electric Group Co.,Ltd. achieved operating revenues of 14.266 billion yuan, 15.567 billion yuan, and 16.247 billion yuan respectively, with annual profits of 839 million yuan, 553 million yuan, and 832 million yuan respectively.
**Creality Disclosed Prospectus for Hong Kong Stock Exchange Main Board on August 14**
On August 14, Shenzhen Creality 3D Technology Co., Ltd. (referred to as "Creality") submitted a prospectus to the Hong Kong Stock Exchange main board, with sponsor being China International Capital Corporation.
Creality is a global consumer-grade 3D printing product and service provider. The company's products and services mainly include: 3D printers, 3D printing consumables, and various services provided on Creality Cloud (the company's global online community focused on 3D printing content).
According to Mordor Intelligence data, the company is the only one among major global 3D creative industry participants that simultaneously provides consumer-grade 3D printing, consumer-grade 3D scanning, and consumer-grade laser engraving products and services.
The prospectus shows that the funds raised from this issuance will be used by Creality for the company's R&D investment to strengthen technological capabilities, support long-term innovation, and maintain the company's competitiveness in the global consumer-grade 3D printing industry; the company's overseas user operations, specifically for building and operating the company's Creality Cloud and Nexbie; global brand promotion and sales channel development; seeking strategic cooperation relationships, investments, or acquisitions that complement the company's business and align with the company's strategy; and working capital and general corporate purposes. Specific fundraising amounts were not disclosed.
In terms of financial data, from 2022 to 2024, Creality achieved operating revenues of 1.346 billion yuan, 1.883 billion yuan, and 2.288 billion yuan respectively, with annual profits of 104 million yuan, 129 million yuan, and 89 million yuan respectively.
It is worth noting that Creality had previously planned to pursue an A-share IPO. In January 2024, it registered for counseling at the Shenzhen Securities Regulatory Bureau, with China International Capital Corporation as the counseling institution.
**Flashback Technology Disclosed Prospectus for Hong Kong Stock Exchange Main Board on August 14**
On August 14, Flashback Technology Limited (referred to as "Flashback Technology") submitted a prospectus to the Hong Kong Stock Exchange main board, with sponsor being Matrix Partners China.
Flashback Technology is a Chinese company engaged in providing consumer electronics recycling services, specializing in second-hand mobile phones. According to Frost & Sullivan data, calculated by the total transaction value of second-hand mobile phones recycled and sold in 2024, the company is China's third-largest mobile phone recycling service provider, with market shares of approximately 1.3% and 1.3% respectively.
In terms of financial data, from 2022 to 2024, Flashback Technology achieved operating revenues of 919 million yuan, 1.158 billion yuan, and 1.297 billion yuan respectively, with annual profits of -99.084 million yuan, -98.268 million yuan, and -66.443 million yuan respectively.
Flashback Technology had previously submitted listing applications to the Hong Kong Stock Exchange in February 2024 and September 2024, which have now expired. This is the third submission to the Hong Kong Stock Exchange.
Additional companies including Huachen Biotechnology, Different Group, and Zhuoyou Zhimei also submitted prospectuses during this period, with detailed financial information and risk factors disclosed in their respective filings.
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