Eight companies, including Unitree and Xinoview, are about to submit their IPO applications. China Unicom plans to spin off its Internet of Vehicles platform for an independent listing.

Shanghai and Shenzhen Stock Exchanges

Acceptance of Guidance Filings for Registration

From November 10th to November 18th, the guidance filings for registration of 15 companies for domestic issuance and listing (on the Shanghai and Shenzhen Stock Exchanges) were accepted.

Data source: Public information; Chart production: Insight IPO

Hunan Starbang Intelligent Equipment Co., Ltd.

On November 10th, Hunan Starbang Intelligent Equipment Co., Ltd. (hereinafter referred to as "Starbang Intelligent") submitted a listing guidance filing report to the Hunan Securities Regulatory Bureau. The guidance institution is Huatai United Securities.

Starbang Intelligent specializes in the R & D, production, sales, and services of aerial work platforms. It has seven series of aerial work platforms, including straight - boom, articulating - boom, scissor, spider, telescopic, mast, and vehicle - mounted types. The platform height ranges from 4 meters to 58 meters, with a complete product series and a rich variety of specifications.

Public information shows that since the first angel round of financing in 2014 to the last C + round of financing in 2021, Starbang Intelligent has raised funds 6 times in total. The investors include Bata Venture Capital Fund, Avic Information Capital, Qinke Capital, China Merchants Venture Capital, etc.

The controlling shareholder and actual controller of Starbang Intelligent is Liu Guoliang, with a shareholding ratio of 27.02%. In addition, Hunan Cultural and Tourism Venture Capital Fund Enterprise (Limited Partnership) directly holds 5.58% of the shares, and the actual controller Xu Hongxia directly holds 4.98% of the shares.

In July 2020, Starbang Intelligent's first IPO application was accepted, and then it voluntarily withdrew the application in March 2021.

In September 2022, Starbang Intelligent submitted its second IPO application. In March 2023, its application materials were transferred to the Shanghai Stock Exchange, and then it withdrew the application in August 2024.

China Unicom Smart Network Technology Co., Ltd.

On November 10th, China Unicom Smart Network Technology Co., Ltd. (hereinafter referred to as "Smart Network Technology") submitted a listing guidance filing report to the Beijing Securities Regulatory Bureau. The guidance institution is China International Capital Corporation Limited.

Smart Network Technology is a wholly - owned subsidiary of China Unicom engaged in the specialized operation of the Internet of Vehicles. It provides professional services for intelligent connection and intelligent operation, as well as intelligent application services such as intelligent transportation vehicle - road coordination, fleet management, and intelligent cockpits based on new - generation information technologies such as 5G, V2X, and MEC.

Public information shows that Smart Network Technology carried out two rounds of Series A financing in April and June 2019. The investors include Dongfeng Motor Group, FAW Group, GAC Group, Lianchuang Innovation Investment Fund, etc.

The controlling shareholder of Smart Network Technology is China United Network Communications Co., Ltd., with a shareholding ratio of 68.88%. In addition, FAW Equity Investment (Tianjin) Co., Ltd. directly holds 11.02% of the shares, and Guangzhou Yingyue Venture Capital Partnership (Limited Partnership) directly holds 3.98% of the shares.

As early as 2021, China Unicom disclosed its plan to spin off Smart Network Technology for listing on the A - share market. In May 2023, China Unicom planned to spin off Smart Network Technology for listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange, but the plan was terminated due to regulatory policy adjustments and other reasons.

Ligao New Energy Technology Co., Ltd.

On November 10th, Ligao New Energy Technology Co., Ltd. (hereinafter referred to as "Ligao New Energy") submitted a listing guidance filing report to the Shandong Securities Regulatory Bureau. The guidance institution is CITIC Construction Securities.

Ligao New Energy is an enterprise focusing on new - energy vehicle electronics and energy storage. It is a domestic new - energy product supplier integrating independent R & D, production, and sales of products. It has formed a product system mainly consisting of power battery BMS products for new - energy vehicles, supplemented by energy storage and other automotive electronic products. It is the largest third - party BMS provider in China.

Public information shows that since the first Series A financing in 2012 to the last Series D financing in 2025, Ligao New Energy has raised funds 11 times in total. The investors include Puquan Capital, Xiaoyun New Energy Venture Capital, Tengyi New Energy Investment, Lanxi Puhua Xinsheng Venture Capital, etc.

The controlling shareholder of Ligao New Energy is Yantai Lanfeng Equity Investment Partnership (Limited Partnership), with a shareholding ratio of 30.90%. In addition, Shenzhen Shengang Songhe Venture Capital Co., Ltd. directly holds 10.65% of the shares, and China National Petroleum Corporation Capital Co., Ltd. directly holds 6.42% of the shares.

In June 2023, Ligao New Energy submitted an application for listing on the Growth Enterprise Market of the Shenzhen Stock Exchange under the sponsorship of Haitong Securities, and then withdrew the listing application in August 2024.

Shenzhen Yigan Technology Co., Ltd.

On November 10th, Shenzhen Yigan Technology Co., Ltd. (hereinafter referred to as "Yigan Technology") submitted a listing guidance filing report to the Shenzhen Securities Regulatory Bureau. The guidance institution is GF Securities.

Yigan Technology is a modern enterprise specializing in the R & D, production, and sales of inductor products. It provides high - quality after - sales services to domestic and foreign customers and is one of the professional inductor manufacturers in China.

Public information shows that Yigan Technology only carried out a Series A financing in 2022. The investor is Gongqingcheng Risheng No. 1 Equity Investment Partnership (Limited Partnership).

The controlling shareholder and actual controller of Yigan Technology is Tian Lin, with a shareholding ratio of 47%. In addition, Li Cuijuan directly holds 10% of the shares, and Bomin Electronics Co., Ltd. directly holds 10% of the shares.

Zhuzhou Kenen New Materials Co., Ltd.

On November 11th, Zhuzhou Kenen New Materials Co., Ltd. (hereinafter referred to as "Zhuzhou Kenen") submitted a listing guidance filing report to the Hunan Securities Regulatory Bureau, planning an IPO on the Science and Technology Innovation Board. The guidance institution is Shenzhen Securities.

Zhuzhou Kenen has long been committed to the R & D and industrialization of purification technologies for III - V group chemical element materials. It mainly engages in the R & D, production, and sales of rare - dispersed metal elements such as gallium, indium, bismuth, and tellurium above 4N and their oxides. The products mainly include two major categories: high - purity gallium, high - purity indium, and indium for target materials such as ITO (4N5 - 5N), indium oxide, gallium oxide and other electronic - grade rare - dispersed metal series products, and industrial - grade rare - dispersed metal series products such as industrial gallium, bismuth, and bismuth oxide. They are mainly used in the manufacturing of high - end products in fields such as compound semiconductors such as indium phosphide and gallium arsenide, P - type silicon wafers for solar cells, target material synthesis such as ITO, and medicine and chemicals.

Public information shows that Zhuzhou Kenen only carried out two rounds of Series A financing in 2021. The investors include Zhoushan Gaoshang Value Venture Capital and Jinshi Manufacturing Transformation and Upgrading New Materials Fund.

The controlling shareholder of Zhuzhou Kenen is Zhuzhou Kenen Advanced Materials Co., Ltd., with a shareholding ratio of 27.05%. In addition, the actual controller Zhao Kefeng directly holds 23.74% of the shares, and Jinshi Manufacturing Transformation and Upgrading New Materials Fund (Limited Partnership) directly holds 8.24% of the shares.

In June 2023, Zhuzhou Kenen's IPO application on the Science and Technology Innovation Board was accepted, and then the IPO was terminated in October 2025.

Mifei Technology (Shanghai) Co., Ltd.

On November 12th, Mifei Technology (Shanghai) Co., Ltd. (hereinafter referred to as "Mifei Technology") submitted a listing guidance filing report to the Shanghai Securities Regulatory Bureau. The guidance institution is Guotai Junan Securities.

Mifei Technology is a supplier of automated transfer systems for the pan - semiconductor industry. It provides automated solutions for enterprises in the semiconductor field and offers overall solutions for industrial upgrading and development with its independent technologies. Its main products include customized clean - room automatic material handling systems (AMHS) and unmanned factory software systems.

Public information shows that since the first Series A financing in 2021 to the last Pre - IPO financing in 2025, Mifei Technology has raised funds 6 times in total. The investors include Frontier Investment, Dazhong Juding Private Equity Fund, Jingyou Investment, Jiquan Mingyuan Venture Capital, etc.

The controlling shareholder and actual controller of Mifei Technology is Miao Feng, with a shareholding ratio of 30.80%. In addition, Wu Shuichang directly holds 14.46% of the shares, and Shanghai Mizheng Enterprise Management Partnership (Limited Partnership) directly holds 11.67% of the shares.

Suzhou Weijia Technology Co., Ltd.

On November 12th, Suzhou Weijia Technology Co., Ltd. (hereinafter referred to as "Weijia Technology") submitted a listing guidance filing report to the Jiangsu Securities Regulatory Bureau. The guidance institution is Guotou Securities.

Weijia Technology focuses on the R & D, production, and sales of PCB core equipment - drilling and forming special equipment, as well as other special equipment. The company's core products are PCB drilling equipment and PCB forming equipment, covering the core processes of PCB production. The product sales volume ranks among the top in the industry.

Public information shows that Weijia Technology only carried out a Series A financing in 2020. The investors include Gongqingcheng Muli Venture Capital and Fengnian Junhe Venture Capital.

The controlling shareholder and actual controller of Weijia Technology is Qiu Sijun, with a shareholding ratio of 44.36%. In addition, Suzhou Weijia Kaiyue Enterprise Management Center (Limited Partnership) directly holds 15.57% of the shares, and Ningbo Meishan Bonded Port Area Fengnian Junhe Venture Capital Partnership (Limited Partnership) directly holds 7.78% of the shares.

In September 2021, Weijia Technology applied for an IPO on the Growth Enterprise Market and was accepted by the Shenzhen Stock Exchange. However, at the review meeting of the Growth Enterprise Market in September 2022, it was considered that the issuer did not meet the relevant regulations, and the Shenzhen Stock Exchange decided to terminate the review of Weijia Technology's application for the initial public offering of stocks and listing on the Growth Enterprise Market.

Sichuan Jinjiang Electronic Medical Device Technology Co., Ltd.

On November 12th, Sichuan Jinjiang Electronic Medical Device Technology Co., Ltd. (hereinafter referred to as "Jinjiang Electronic") submitted a listing guidance filing report to the Sichuan Securities Regulatory Bureau. The guidance institution is CITIC Securities.

Jinjiang Electronic is an innovative enterprise focusing on the R & D, production, and sales of high - end innovative medical devices for diagnosis and ablation in the field of cardiac electrophysiology. The quality and performance of its core products are fully comparable to those of international leading companies. The company continuously conducts technological matrix innovation and product line expansion, and has built seven core technological platforms, including a simulation and verification technology platform, a medical electronics technology platform, a mapping and navigation technology platform, a radio - frequency ablation energy technology platform, a pulsed - electric - field ablation energy technology platform, a catheter technology platform, and a system integration technology platform. It has the independent R & D ability for all - category products of cardiac electrophysiology equipment and consumables and is expanding into the field of pain management.

Public information shows that since the first equity transfer financing in 2018 to the last Series B financing in 2022, Jinjiang Electronic has raised funds 4 times in total. The investors include Xinshi Xinxing Industrial Merger and Acquisition Equity Investment Fund, Jianda Qianxin Equity Investment, Yuanheng Sixth - Phase Equity Investment, etc.

The controlling shareholder of Jinjiang Electronic is Li Chuya, with a shareholding ratio of 22.06%. In addition, Shenzhen Xinlitai Medical Device Co., Ltd. directly holds 16.68% of the shares, and Li Chuwen directly holds 13.02% of the shares.

In June 2023, Jinjiang Electronic's IPO application on the Science and Technology Innovation Board was accepted. It planned to apply for the IPO under the fifth set of listing standards of the Science and Technology Innovation Board. Then it withdrew the IPO application in June 2024, and the IPO on the Science and Technology Innovation Board was terminated.

Guangdong Haohui New Materials Co., Ltd.

On November 14th, Guangdong Haohui New Materials Co., Ltd. (hereinafter referred to as "Haohui New Materials") submitted a listing guidance filing report to the Guangdong Securities Regulatory Bureau. The guidance institution is Dongguan Securities.

Haohui New Materials is an enterprise focusing on the R & D and manufacturing of UV - curable special polymers. The company can provide many photo - curable special acrylate polymer products and high - performance UV - curable customized solutions.

The controlling shareholder of Haohui New Materials is Guangdong Haohui Industry Co., Ltd., with a shareholding ratio of 71.43%. In addition, Bai Lu directly holds 17.32% of the shares, and Dongguan Haowang Management Consulting Partnership (Limited Partnership) directly holds 5.21% of the shares.

Shanghai Diluo Medical Device Co., Ltd.

On November 14th, Shanghai Diluo Medical Device Co., Ltd. (hereinafter referred to as "Diluo Medical") submitted a listing guidance filing report to the Shanghai Securities Regulatory Bureau. The guidance institution is CITIC Securities.

Diluo Medical mainly engages in the R & D, production, and sales of Class III medical device products (color contact lenses). It has R & D, production, and sales centers in Shanghai, Jilin, Suzhou, Xi'an, and South Korea. The Diluo Group currently has 9 Class III medical device registration certificates, covering the entire product line of contact lenses such as daily - disposable, monthly - disposable, semi - annual - disposable, and annual - disposable contact lenses. Among them, 8 are for color contact lenses, and 1 is for ordinary contact lenses.

Public information shows that since the first Series A financing in 2020 to the last Series C financing in 2024, Diluo Medical has raised funds 4 times in total. The investors include Legend Capital, CPE Yuanfeng, Boxin Capital, Legend Capital, etc.

The controlling shareholder and actual controller of Diluo Medical is Jin Yilin, with a shareholding ratio of 34.74%. In addition, Tianjin Panmu Enterprise Management Partnership (Limited Partnership) directly holds 9.88% of the shares, and Kang Zhengguo directly holds 7.93% of the shares.

Diluo Medical launched the IPO guidance in 2023, and the guidance institution at that time was Orient Securities.

Ningbo Shuaite Long Automotive System Co., Ltd.

On November 17th, Ningbo Shuaite Long Automotive System Co., Ltd. (hereinafter referred to as "Shuaite Long") submitted a listing guidance filing report to the Ningbo Securities Regulatory Bureau. The guidance institution is Guojin Securities.

Shuaite Long is committed to the design, R & D, manufacturing, and sales of automotive functional interior and exterior trim assemblies. The main products cover ten major series such as interior door handles, cup holders, sunshades, and exterior door handles, which are widely used in the automotive manufacturing industry.

The controlling shareholder and actual controller of Shuaite Long is Wu Zhiguang, with a shareholding ratio of 35.10%. In addition, the actual controller Zhou Xiaoping directly holds 18.00% of the shares, and Wu Xihui directly holds 11.70% of the shares.

Zhenhai Petrochemical Construction and Installation Engineering Co., Ltd