China Economic Network Beijing November 3rd News Yesterday, the Shanghai Stock Exchange website issued a decision on termination of the initial public offering of shares of Peking Machine Tool (Zhejiang) Co., Ltd. (referred to as "Beiping Machine Tool") and listing on Science and Technology Innovation Board .
On October 20, 2022, Caitong Securities Co., Ltd., a sponsor of Peking Machine Tools, submitted the "Report of Caitong Securities Co., Ltd. on the Application Document of Application for the Retraction of the Initial Public Offering of Beijing Machine Tools (Zhejiang) Co., Ltd. and Listing on the Science and Technology Innovation Board" (Caiqiang [2022] No. 379) to the Shanghai Stock Exchange, applying to revoke the underwriting of the company's initial public offering of shares and listing on the Science and Technology Innovation Board. According to Article 67 of the "Shanghai Stock Exchange Science and Technology Innovation Board Stock Issuance and Listing Review Rules", the Shanghai Stock Exchange decided to terminate the review of the company's initial public offering and listing on the Science and Technology Innovation Board.
Beiping Machine Tool focuses on the research, development, production and sales of high-end five-axis linkage CNC grinder and other machine tools equipment and industrial robots. It is a domestic leading provider of five-axis linkage CNC tool grinder and five-axis grinding technology solutions. The company's main products are five-axis linked CNC tool grinders, inner and outer circular composite grinders, vertical composite grinders, industrial robots, etc., which are mainly used in the production of precision CNC tool and high-precision parts, and are widely used in aerospace, automobiles, molds, 3C, woodworking, medical devices and other fields.
As of the date of signing the prospectus, Yu Ronghua and Qiu Haiyan directly held 33.0412 million shares of the company, , accounting for 78.67% of the total share capital; at the same time, Yu Ronghua controlled 4.54% of the company's shares by holding 23.67% of the equity of Peking Management and serving as its executive partner. Therefore, Yu Ronghua and Qiu Haiyan directly and indirectly controlled 83.20% of the company's shares, and were the company's controlling shareholders and joint actual controllers.
Beiping Machine Tool originally planned to issue shares shall not exceed 14 million shares (including 14 million shares, and shall not be less than 25% of the company's total share capital after this issuance. The company originally planned to raise 446 million yuan of funds, which will be used for the high-end CNC machine tool capacity expansion construction projects, R&D center construction projects, marketing network construction projects, and supplement working capital.
Beiping Machine Tool's sponsor (lead underwriter) is Caitong Securities Co., Ltd., and sponsor representatives are Gu Lei and Lu Deli.
