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Swiss Finance Strict MeetingOn August 9, according to the announcement of the Beijing Stock Exchange, the IPO of Dongyue Machinery Co., Ltd. (hereinafter referred to as Dongyue Machinery) was terminated. The sponsor was Kaiyuan Securities Co., Ltd., the auditing agency was Zhongshen Asia Pacific Accounting Firm, and the law firm was Beijing Kangda Law Firm.

According to Ruicaijing, Dongyue Machinery applied for an IPO on the Beijing Stock Exchange on September 28, 2023, and has not yet responded to the second round of inquiries.

Dongyue Machinery is a manufacturer of automated complete sets of building materials production equipment, mainly engaged in the research and development, design, production and sales of autoclaved aerated concrete equipment, unburned brick production equipment and supporting equipment.

The prospectus shows that Dongyue Machinery's downstream customers are mostly newly established building materials production companies, and fixed asset investment is greatly affected by the prosperity of the real estate industry.

From 2020 to January-October 2023, the amount of newly signed orders (tax included) of Dongyue Machinery was RMB 822 million, RMB 566 million, RMB 256 million and RMB 495 million respectively. It continued to decline sharply from 2020 to 2022, and improved in 2023. Dongyue Machinery believes that this is mainly due to the recovery of the downstream industry's business climate.