Huile Technology terminated its IPO on the Shenzhen Stock Exchange. The company's industrial dust removal equipment is widely used in the emerging manufacturing sector.

On July 4th, Dongguan Huile Technology Co., Ltd. (referred to as Huile Technology) had its IPO review status changed to terminated by the Shenzhen Stock Exchange. This was due to Dongguan Huile Technology Co., Ltd. and the sponsor withdrawing the application for an initial public offering. In accordance with Article 62 of the Shenzhen Stock Exchange's Rules for the Review of Stock Issuance and Listing (revised in 2024), the Shenzhen Stock Exchange decided to terminate the review for its IPO. According to the prospectus, Huile Technology is a high-tech enterprise specialized in the research, development, production, and sales of industrial dust removal equipment. Since 2009, the company has been focusing on the industrial dust removal field, with main products including explosion-proof industrial dust collectors, non-explosion-proof industrial dust collectors, industrial vacuum cleaners, dust removal consumables, and components. In recent years, with technological innovations in the treatment of ultrafine dust and flammable and explosive dust, the company's products have been widely used in emerging manufacturing fields such as lithium batteries, photovoltaics, and metal 3D printing. The company has continued to strengthen its research in the technology of handling ultrafine dust and flammable and explosive dust, developing a series of core technologies with independent intellectual property rights such as industrial ultrafine dust capture and treatment technology, ultrasonic dust removal technology, modular dust collectors research and development technology, trace continuous powder coating technology, and metal dust flameless explosion pressure relief technology. As of the date of the prospectus, the company has obtained a total of 98 patents, including 11 invention patents and 22 software copyrights. During the reporting period, research and development expenditures were 8.622 million yuan, 17.664 million yuan, 27.9505 million yuan, and 14.6854 million yuan respectively. Furthermore, in recent years, with the rapid development of technologies in emerging industries such as lithium batteries, photovoltaics, and 3D printing, there have been high frequencies of updates in production processes, leading to new requirements for industrial dust removal equipment. With a deep understanding of downstream production processes and rapid iterative upgrading research and development capabilities, the company has established stable cooperative relationships with leading enterprises in emerging industries. On one hand, by following domestic lithium battery giants and lithium battery equipment suppliers to go global, the company meets the overseas production expansion needs of domestic customers; on the other hand, actively exploring foreign customers, the company has become a qualified supplier for enterprises such as Tesla, Swedish Northvolt, and French ACC. In terms of financials, Huile Technology achieved operating revenues of approximately 144 million, 284 million, 628 million, and 344 million yuan in 2020, 2021, 2022, and 2023 respectively, with net profits of 5.0909 million, 23.9481 million, 63.9782 million, and 32.8953 million yuan respectively.