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on september 23, the ipo application review status of baotou yingsite rare magnetic new materials co., ltd. (hereinafter referred to as "yingsite") was changed to "submitted for registration" and is currently awaiting the registration result. this time, yingsite plans to publicly issue 28,982,970 shares and plans to raise 606 million yuan to invest in four projects, including the expansion of production of high-end magnetic materials and components for consumer electronics and new energy vehicles.

from 2020 to 2022, instant's performance grew rapidly like a volcanic eruption. however, apple played a key role behind this amazing performance. its sales revenue applied to apple's terminal products accounted for more than 60% of its main business revenue.instant also had to admit that it was heavily dependent on apple.

at the same time,the source of investment funds and the authenticity of shares of wang shichang, the third largest shareholder of insite (whose father wang qiang worked in the tax bureau before retirement), have been repeatedly questioned by the shenzhen stock exchange. in addition, insite also encountered the thorny problem of inconsistencies in the resume of the actual controller.

instant's performance soars, is apple the key?

insite, a company focusing on the research, development, production and sales of rare earth permanent magnet material application devices, has become one of the main suppliers of rare earth permanent magnet material application devices for consumer electronics brands such as apple, microsoft, xiaomi and huawei.

source of the above image: instant ipo prospectus (registration draft)