Research replicating materials, Linping submits the IPO registration to the Shanghai Stock Exchange.

On December 13th, Beijing Yuyan Metal Composite Materials Co., Ltd. (referred to as Yuyan Composite Materials) and Anhui Linping Circular Development Co., Ltd. (referred to as Linping Development) have changed their IPO application status to "submit for registration" on the Shanghai Stock Exchange Sci-Tech Innovation Board and Main Board, respectively. The sponsoring institutions are CITIC SEC and Guolian Minsheng Securities Underwriting Sponsor Limited, with plans to raise 900 million yuan and 1.2 billion yuan, respectively. According to the prospectus, Yuyan Composite Materials is a high-tech enterprise mainly engaged in the research and development, production, and sales of metal composite materials and products, as well as special non-ferrous metal alloy products. Its business segments include metal composite materials and products, and special non-ferrous metal alloy products, with main products including metal-based composite materials and products, bimetal composite materials and products, special aluminum alloy products, and special copper alloy products. The company's products are widely used in aerospace, military electronics, smart terminals, household appliances, and other fields. Linping Development is mainly engaged in the research, production, and sales of corrugated paper and boxboard paper products for packaging. After years of development, the company has grown into a resource comprehensive utilization enterprise integrating waste paper utilization, cogeneration, and green papermaking. Through processes such as waste paper utilization, wastewater treatment, reuse of white water and medium water, biogas combustion power generation, sludge reuse, cogeneration, and green manufacturing, the company achieves resource recycling and sustainable development. The company's main products include corrugated paper and boxboard paper, which are sold downstream to be made into corrugated paper boxes, widely used in logistics, industrial goods, and consumer product packaging.