Jinlianjie's Shanghai Stock Exchange STAR Market IPO "terminated"

On November 2, the IPO review status of Zhejiang Jinlianjie Technology Co., Ltd. (referred to as "Jinlianjie") on the Shanghai Stock Exchange STAR Market was changed to "terminated." Because Jinlianjie and its sponsor withdrew the issuance and listing application, in accordance with Article 63 of the "Shanghai Stock Exchange Rules for the Review of Stock Issuance and Listing," the Shanghai Stock Exchange terminated its issuance and listing review. The prospectus shows that Jinlianjie is a globally renowned provider of micro-precision parts. It currently mainly supplies core parts to major domestic and international chip test consumables manufacturers such as Smiths Interconnect, Yokowo, Yamaichi, Taosheng Technology, and Suzhou UIGreen Micro&Nano Technologies. Its products are ultimately used in the testing processes for high-end chips such as GPUs, CPUs, and ASICs from major domestic and international chip manufacturers, making it an important part of the global high-end chip supply chain system. In addition, the company is also actively expanding its business boundaries, strategically precision parts for medical devices and wafer test probe parts, and continuously enriching its product matrix. As one of the few domestic enterprises with large-scale manufacturing capability for test probe parts, the company can achieve stable mass production of test probe parts with a minimum diameter of 0.03 mm and a dimensional tolerance of 2 m, and can complete mirror-level machining of complex geometric structures on probe top pillars with a minimum diameter of 0.04 mm. Its product parameters have fully benchmarked, and in some cases even surpassed, those of domestic and international competitors. According to an industry report released by Frost & Sullivan, in 2024 the company ranked fifth globally by market share in the test probe parts industry, and is also the only Chinese local test probe parts manufacturer to rank among the global top five. In terms of financials, for the 2023, 2024, and 2025 fiscal years, the company achieved operating revenue of RMB91.2536 million, approximately RMB158 million, and approximately RMB276 million, respectively; during the same periods, the company achieved net profit of RMB-4.7575 million, RMB5.2412 million, and RMB58.6882 million, respectively.