Rongxinhui Technology's Science and Technology Innovation Board IPO has been inquired. It mainly focuses on research and development, manufacturing, and sales of core equipment for new power systems.

On December 11, Rongxinhuike Electrical Group Co., Ltd. (referred to as Rongxinhuike) applied for a change in the status of its listing review on the Shanghai Stock Exchange Science and Technology Innovation Board to "under inquiry." Sinolink is its sponsoring agency, and the company plans to raise 977 million yuan. According to the prospectus, Rongxinhuike is a technology enterprise specializing in the research, development, manufacturing, sales, and services of core equipment for new electric power systems. It mainly provides customers with flexible power transmission equipment, high-power inverters, and other high-end equipment and technical services. The company's products and services are widely used in various fields of new electric power systems such as power generation, power transmission and distribution, oil and gas pipelines, national defense and aerospace, shipbuilding, metallurgy, chemical industry, and energy storage, helping to build a new electric power system with new energy as the main source and promoting technological innovation in the world's high-end power equipment. Flexible DC transmission technology is one of the key technologies for building a new electric power system with new energy as the main source, and the flexible DC converter valve is the core equipment of the flexible DC transmission system. As one of the major suppliers of complete sets of equipment for flexible DC converter valves, Rongxinhuike has a market share of over 25% in terms of bid capacity from the beginning of 2020 to the date of signing of this prospectus, ranking in the first echelon of the industry. During the reporting period, the company's downstream customers mainly include large state-owned enterprises such as State Grid, Southern Power Grid, New Energy Generation Group, and national pipeline companies, as well as overseas new energy generation companies, industrial and mining enterprises. The company mainly purchases electronic components (IGBT, capacitors, diodes, etc.), structural components, and water cooling systems as raw materials. The company's customer concentration is relatively high. During the reporting period, the total sales revenue of the top five customers accounted for 96.55%, 70.84%, 71.27%, and 92.96% of the company's operating income respectively. Any major adjustments made by these customers in procurement demand, pricing principles, etc., or if the company's product performance or after-sales service cannot continue to meet customer needs, will have a negative impact on future business performance. The raised funds, after deducting issuance expenses, will be invested in the following projects: Financially, in the years 2022, 2023, 2024, and January to June 2025, the company is expected to achieve operating income of approximately 1.942 billion yuan, 233 million yuan, 508 million yuan, and 234 million yuan respectively. During the same period, the net profit is expected to be approximately 182 million yuan, -56.2779 million yuan, 35.4224 million yuan, and -5.3701 million yuan respectively.