To The Moon

Zhongke Chuangxin's IPO has been terminated, and the company had previously planned to list on the STAR Market.

Wuhan Zhongke Chuangxin Technology Co., Ltd. (referred to as "Zhongke Chuangxin") recently had its IPO terminated. The company had originally planned to raise 776 million yuan, including 100 million yuan for an ultrasonic non-destructive testing production base construction project, 120 million yuan for a magnetic flux leakage non-destructive testing production base construction project, 54.15 million yuan for a new product industrialization project, 210 million yuan for a multifunctional R&D center construction project, 80.89 million yuan for a marketing network and service system construction project, and 200 million yuan for supplementary working capital.

Annual Revenue of 378 Million Yuan

Zhongke Chuangxin originated from the Institute of Physics and Mathematics of the Chinese Academy of Sciences. It is an enterprise specializing in the research and development, production, and sales of industrial non-destructive testing equipment. Its technology matrix covers ultrasonic testing, magnetic flux leakage testing, and other categories. Its main products are automated non-destructive testing systems and non-destructive testing instruments.

Zhongke Chuangxin's products are used in special steel, petrochemical, non-ferrous metals, energy and power, vehicle equipment, national defense and military industry, aerospace, nuclear industry, and other fields in China. The company focuses on providing professional non-destructive testing equipment and technical support for key products and components of the aforementioned fields and their upstream and downstream enterprises.

The prospectus shows that Zhongke Chuangxin's revenue in 2023, 2024, and 2025 was 200 million yuan, 294 million yuan, and 378 million yuan, respectively; net profit was 31.34 million yuan, 50.69 million yuan, and 79.27 million yuan, respectively; net profit after deducting non-recurring gains and losses was 28.57 million yuan, 37.32 million yuan, and 75.55 million yuan, respectively.

Zhang Fu Controls 53% of the Shares

As of the signing date of this prospectus, Herunlian directly holds 25,728,703 shares of the company, accounting for 56.62% of the company's total share capital, making it the controlling shareholder of the company.

Zhang Fu and Sancai Education together hold 100% of Herunlian's equity, with Zhang Fu holding 70% of Herunlian's equity and Sancai Education holding 30% of Herunlian's equity; Zhang Fu also holds 70% of Sancai Education's equity. Therefore, Zhang Fu indirectly holds 51.52% of the shares; at the same time, Zhang Fu directly holds 1.10% of Zhongke Chuangxin's shares. Based on the aforementioned shareholding situation, Zhang Fu directly and indirectly holds 52.62% of the shares, which can have a significant impact on the company's shareholders' meeting resolutions and major matter decisions, making him the actual controller of the company.

Zhang Fu was born in January 1967 and holds a graduate degree and is a senior economist. From July 1988 to May 1994, he served as a clerk and section chief in the Credit Section of Bank of Communications Wuhan Branch; from May 1994 to April 2004, he served as the president of Hankou Bank Luoshi Road Sub-branch; from April 2004 to September 2005, he served as the marketing director of the Marketing Department of Guangdong Development Bank Wuhan Branch; from September 2005 to January 2009, Zhang Fu served as a consultant at Wuhan Hanyang Hospital; from January 2009 to present, he has served as the executive director and general manager of Herunlian; from March 2014 to present, he has served as the executive director and general manager of Wuhan Herun United Hospital Management Co., Ltd.; from October 2022 to present, he has served as the chairman of the company.

Before the IPO, Zhongke Design (SS) and Guoke Investment each held 3.47%, Kang Xi held 3.39%, Wu Huiyu held 2.08%, Zhao Wanxiong held 1.56%, Lin Guanghui held 1.39%, and Zhou Youpeng, Zhu Lixian, and Wang Zhimin each held 1.21%.

Zhang Fu is the executive director and general manager of Herunlian, and Zhou Kang is a member of the Herunlian management committee. Zhang Fu and Zhang Chi have an uncle-nephew relationship. Zhang Chi holds 0.84%; Gong Lingbo and Wei Chenxia are both daughters-in-law of Zhao Wanxiong. Gong Lingbo and Wei Chenxia each hold 0.18%; Yan Xizi is the daughter of Hu Qinyu, Yan Xizi holds 0.58%, and Hu Qinyu holds 0.11%; Kang Xi and Kang Xianjing have a cousin relationship, and Kang Xi and Wu Wei have a cousin relationship. Kang Xianjing and Wu Wei each hold 0.1%.