[Quick report of IPO review results] All five companies attended the meeting last week, with hard technology and advanced manufacturing playing the leading role (Week 34 of 2026)

Disclaimer: This article only objectively states public information and does not constitute any investment advice.

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1. Overview of last week's review

According to statistics from the Prospective Industry Research Institute, from August 17 to August 23, 2026 (last week, the 34th week of 2026), a total of 5 companies in the A-share IPO market were reviewed at the meeting, and all 5 companies successfully passed the meeting. The meeting rate is 100%. The pace of review this week has been significantly warmer than in previous weeks: on August 17, the first round of scientific and technological innovation board was launched; on August 20, the Beijing Stock Exchange reviewed Yuanli Optoelectronics in a single day; on August 21, the Shenzhen Stock Exchange and the Beijing Stock Exchange intensively arranged three review meetings (Youbang Technology, Xinjuhong, Zhengdao Technology). From the perspective of industry attributes, Shanghui enterprises are concentrated in advanced manufacturing and electronic industry chains such as CNC machine tools, electronic assembly materials, precision optical devices, light guide plates, and cables. Hard technology and advanced manufacturing enterprises have become the absolute main force.

2. Details of the company that attended the meeting last week

① Coltan and Strontium (Science and Technology Innovation Board)-The meeting will be held on August 17

[Main Business] According to the prospectus, Cortan is focused on the research and development, production and sales of all-direct-drive CNC machine tools and CNC systems. It is one of the few in China that has both PWM type and bus-type CNC systems, both of which have formed a scale. Sales company. The products mainly serve the precision machining needs of high-end manufacturing fields such as aerospace, precision molds, and new energy.

[Financial Data] According to the prospectus, the company's operating income will increase from 253 million yuan in 2023 to 409 million yuan in 2025, and the parent's net profit will increase from 35.6109 million yuan to 76.4823 million yuan. The performance will steadily increase with the volume of all-direct-drive CNC equipment.

[Market Focus] In terms of technical barriers, all-direct drive and dual-route CNC systems form the core moat; attention should be paid to the impact of fluctuations in the capital expenditure cycle of the downstream machine tool industry on the order rhythm, as well as the stability of gross profit margin under scale expansion.

The revenue distribution of the company's all-direct-drive CNC machine tools in different fields is as follows:

In addition to the use of own machine tool products, the income distribution of CNC systems sold externally in different application fields is as follows:

② Yuanli Optoelectronics (Beijing Stock Exchange)-Meeting will be held on August 20

[Main Business] According to the prospectus, Yuanli Optoelectronics focuses on the research and development, production and sales of light guide plates and Mini-LED optical products, which are used in car displays, tablets and notebook computer backlight modules. The company is a national-level specialized and innovative "little giant" enterprise. Its main customers include BOE, Guoxian Technology, Hanbo High-tech, Lianchuang Optoelectronics, Weizhi Optoelectronics, Handamei, etc.

According to the prospectus, the company did not fully disclose three-year comparable operating income data, and specific values are not listed here. The company has formed two product series: light guide plates and Mini-LED optical products, and its customers cover mainstream panel module manufacturers.

[Market Concerns] The panel industry has obvious cyclical attributes, so it is necessary to pay attention to the impact of downstream capital expenditures and price fluctuations on performance; at the same time, customer concentration is high, and changes in orders from a single customer will directly affect revenue. The pace of penetration of Mini-LEDs is also a key variable.

③ Youbang Technology (GEM)--Meeting will be held on August 21

[Main Business] According to the prospectus, Youbang Technology is mainly engaged in the research and development, production and sales of electronic assembly materials and supporting automation equipment. It has four major business segments: electronic adhesives, electronic welding materials, wet chemicals, and automation equipment. The products are ultimately used in smart terminals, communications, new energy, semiconductors and other fields, and the largest customer is Foxconn. This is the third time that Youbang Technology has sprinted to the GEM.

[Financial Data] According to the prospectus, the company's operating income from 2023 to 2025 will increase from 899 million yuan to 1.136 billion yuan; in the first half of 2026, revenue and net profit are expected to increase by 36.65% and 28.51% year-on-year respectively, but the net cash flow from operating activities will turn from positive to negative, to-122.2187 million yuan (in the same period last year, it was 15.1615 million yuan, with a change of-906.11%).

[Market Focus] Operating cash flow has turned from positive to negative, and the matching of profit quality and revenue growth has attracted attention; customer concentration is high (the largest customer is Foxconn); the Shanghai Municipal Party Committee inquired on the spot whether Foxconn's cooperation and asset acquisition involves "profit transfer"; this is the third time that it has broken through the GEM, and the continuity of review is also worth tracking.

④ Xin Juhong (Beijing Stock Exchange)-Meeting will be held on August 21

[Main Business] According to the prospectus, Xin Juhong is mainly engaged in the research and development, production and sales of precision optical devices. He is a core component supplier in the optical module industry chain, and applies his technical capabilities to ADAS vehicle optics and other optical sensing fields. and robotics. The main customers include Zhongji Xuchuang, Xinyisheng, Coherent, Hisense Broadband, AOI, Hesai Technology, etc.

[Financial Data] According to the prospectus, the company's parent net profit in 2023 will be less than 20 million yuan, and will increase significantly to 176 million yuan in 2025. Its performance has jumped significantly with the AI optical module expansion cycle.

[Market Focus] The high increase in performance is highly related to the pace of capital expenditure on AI optical modules, and there is uncertainty in subsequent sustainability; customer concentration is high, and the fluctuations in orders from head optical module manufacturers will be directly transmitted to the company; the profit base in 2023 is low, and attention should be paid to the sustainability of high growth.

④ Positive Guidance Technology (Beijing Stock Exchange)-Meeting will be held on August 21

[Main Business] According to the prospectus, Zhengdao Technology specializes in the design, production and sales of weak current cables and precision conductors. Its products cover data cables, communication cables and precision conductors, and are widely used in communications, data centers, intelligent buildings, etc. fields.

[Financial Data] According to the prospectus, the company's operating income from 2023 to 2025 will increase from 1.053 billion yuan to 1.354 billion yuan; from January to September 2026, it is expected to achieve operating income of 1.15 - 1.25 billion yuan (year-on-year +17.42% to 27.63%), and net profit from non-parent ownership will be deducted of 36 - 38 million yuan (year-on-year +3.82% to 9.59%), showing the characteristics of "increasing income but not increasing profits".

[Market Focus] The profitability of the main business is under pressure, and the growth rate of net profit after deducting non-profit is significantly lower than the growth rate of revenue, reflecting that gross profit margin is affected by the prices of raw materials such as copper and product structure; attention should be paid to the linkage of raw material prices and capacity expansion. Capacity utilization and cost control.

3. Last week's review and observation

3.1 The pace of review is picking up, and hard technology accounts for a high proportion

Five companies attended the meeting last week, a single-week high in recent months (compared with only one company in the week from July 27 to July 31). In terms of sector distribution, there is 1 Science and Technology Innovation Board, 1 GEM, and 3 Beijing Stock Exchange; the industries are concentrated in advanced manufacturing and electronics industry chains such as CNC machine tools, electronic assembly materials, precision optical devices, light guide plates, cables, etc., with outstanding hard technology attributes.

3.2 Beijing Stock Exchange speeds up review

The Beijing Stock Exchange arranged for three companies to attend meetings in a single week (Yuanli Optoelectronics, Xinjuhong, and Zhengdao Technology), contributing 60% of the number of meetings held during the week. It was the main source of the speed up of the review last week.

3.3 Regulatory inquiries focus on "authenticity" and "sustainability"

Youbang Technology was inquired on the spot by the Shanghai Municipal Party Committee about whether there was "profit transfer" in Foxconn's cooperation and acquisition of assets, which continued the supervision's strict attitude towards the authenticity of performance, sustainability of business model and related transactions.

4. Overview of the dynamics of the IPO last week

Last week (August 17-August 21), the primary market continued to be highly popular. Five new shares launched online subscription and four new shares were listed throughout the week. The effect of making new profits was significant.

4.1 Overview of IPO events throughout the week

4.2 Performance on the first day of IPO

4.3 Observation of market heat

Last week, two hard technology benchmark new shares performed outstandingly: Frequent Laser set a historical record for single auction earnings on the first day of listing A-share new shares, and Yushu Technology's online winning rate hit a record low for the Science and Technology Innovation Board, reflecting the pursuit of funds for new hard technology shares. However, Green Control Transmission surged higher on the first day and fell sharply the next day, which also suggested that the risk of fluctuations under market-based pricing of new shares exists objectively.

★ Data sources and disclaimers ★

Disclaimer: The content of this article objectively states public information and does not constitute any investment advice.

Data sources: Beijing Stock Exchange/Shanghai Stock Exchange/Shenzhen Stock Exchange announcements, China Securities Regulatory Commission website, prospectus and issuance announcement and other public channels.

Report produced by: Prospective Industry Research Institute.

★ About the Prospective Industry Research Institute ★

The Prospective Industry Research Institute was established in 1998 and is headquartered in Shenzhen and has professional research centers in Beijing, Hangzhou, Chengdu and other places. Prospective is the earliest technology-based think tank in China focusing on industrial big data and IPO consulting, and is also the current leader in the research field of domestic IPO market segments. Based on the data cited in the prospectus of companies and listed companies that have successfully participated in meetings over the years, the Prospective Industry Research Institute has been the leading market share consultant for IPO industry research and feasibility research of fundraising projects for many consecutive years.

Prospective mainly provides professional IPO consulting services, refinancing consulting services and M & A consulting services to companies planning to be listed and listed companies. Specific contents include: A-share IPO market segment research (in-depth support for the "Business and Technology" chapter of the prospectus), feasibility study of IPO fundraising projects, feasibility study of refinancing fundraising projects (additional issuance, convertible bonds), due diligence and feasibility study of M & A targets, Hong Kong stock IPO industry consultant, commercial due diligence, post-investment project management evaluation, etc.

As of 2026, the Prospective Industry Research Institute has successfully provided IPO consulting services to more than 1200 companies, and its professional data has been cited in more than 8000 listing documents. Serving customers comprehensively covers major industries such as new generation information technology, biomedicine, high-end equipment manufacturing, new materials, new energy, energy conservation and environmental protection, and TMT.

Prospective is a consulting company with big data heritage and industry depth. Business consulting: 400-639-9936, 150-1360-1266

If you quote the data of this article in the prospectus or the company's annual report, please contact the Prospective Industry Research Institute at 400-068-7188.

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