New machinery has submitted an IPO application to the Shanghai Stock Exchange, and has already received inquiries. It is one of the few companies in China that has realized full in-house production across all categories and full process coverage.

On July 17th, Xinmai Machinery (China) Co., Ltd. (referred to as Xinmai Machinery) applied for a change in the listing review status on the Shanghai Stock Exchange main board to "under inquiry". Zhongde Securities is the sponsor institution, and the company plans to raise 539 million yuan. According to the prospectus, Xinmai Machinery is a subsidiary controlled by Xinmai Enterprise, a listed company on the Taiwan Emerging Market Center in China. The company is engaged in the research, development, production, sales, and service of commercial baking equipment, which is used in the production process of various baking foods such as bread, toast, cakes, cookies, pizza, and pastry. Xinmai Enterprise and Xinmai Machinery have been focusing on manufacturing commercial baking equipment and gradually improving their business model. Currently, the products cover machinery, ovens, and dough processing equipment for commercial baking. Commercial baking equipment refers to commercial machines and equipment used in the production of various baking foods such as bread, toast, cakes, cookies, pizza, and pastry, as well as related display equipment. The downstream users of commercial baking equipment include bakeries, supermarkets, restaurants, new-style tea shops, hotels, cafeterias, central baking factories, and food cooking training schools. The company is one of the few in China that achieves full category self-production and full process coverage. It can provide corresponding solutions from small-scale production equipment to large-scale automated production lines, from batch production to customized design. As a leading enterprise in the domestic commercial baking equipment industry, the company has been recognized as a high-tech enterprise continuously since 2009. In December 2023, it was identified as a specialized and innovative small and medium-sized enterprise in Jiangsu Province. The company has multiple certifications including ISO9001, ISO14001 and has been involved in drafting multiple industry standards. The company's downstream customers include large supermarkets such as Walmart, RT-Mart, Yonghui, and Park'n Shop, Chinese traditional pastry brands such as Luxihe, Zhanji, and Baoshifu, well-known national chain brands such as Taoli, Holiland, and Youhe, as well as global restaurant chain enterprises such as Pizza Hut and Saladay. The company has a well-established sales network both domestically and internationally, covering nearly a hundred countries or regions worldwide. The SINMAG brand was founded in Taiwan, China in 1983 and made its first appearance at the IBA exhibition in 1989. It continues to participate in well-known global exhibitions and enjoys a certain level of brand recognition in the international market. In the reporting period, the company's main operating income by product category is as follows: The company has won awards such as the HOTELEX 2017 Best Supplier Award for Hotel Equipment, entered the official sponsorship list for renowned events such as the 2nd World Bread Six Strong Elite Competition in 2018 and the 7th World Bread Competition China Team Selection in 2019. Additionally, it has been appointed as the exclusive designated sponsor for the final equipment of the 6th "Angel Yeast Co.,Ltd. Cup" National Young Bakers Creative Bread Competition in 2025. Financially, in the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 973 million yuan, 1.033 billion yuan, and 1.074 billion yuan respectively. During the same periods, the net profits were approximately 183 million yuan, 201 million yuan, and 193 million yuan respectively.