Xin Sheng Technology's BJSE IPO Passes Second Review

Beijing Business Daily (Reporter Ma Huanhua, Li Jiaxue) - On the evening of March 12, the official website of the Beijing Stock Exchange showed that Zhejiang Xinsheng Technology Co., Ltd. (hereinafter referred to as “Xinsheng Technology”) was approved on the day of its IPO review.

It is reported that Xinsheng Technology specializes in the research, development, production, and sales of computer embroidery machines. The company plans to raise approximately 449 million yuan in this IPO. Additionally, on March 12, Xinsheng Technology was scheduled for review but was temporarily deferred; this is the company’s second review.

At the review meeting, regarding the authenticity of operating performance, the review committee required Xinsheng Technology to explain the reasons and rationality behind the significant changes in gross profit margins for some customers. Concerning the authenticity of operating performance, the committee asked Xinsheng Technology to explain the reasons for and sustainability of the substantial increase in performance in 2025.

Furthermore, regarding the acquisition of minority equity interests in subsidiaries, the review committee required Xinsheng Technology to clarify the fairness of the prices for acquiring partial equity stakes in Xinsheng Machinery and Xinshun Precision.