Beijing Stock Exchange IPO faces a second test! Guangtai Vacuum scheduled for review on March 26

Beijing Business Daily News (Reporter Wang Manlei) Shenyang Guangtai Vacuum Technology Co., Ltd. (hereinafter referred to as “Guangtai Vacuum”)’s IPO is about to be submitted to the review process for a second time. According to the schedule, Guangtai Vacuum’s IPO on the Beijing Stock Exchange will be submitted for review again on March 26. Whether the listing committee will give the green light at that time will also be revealed.

It is understood that Guangtai Vacuum is a company focused on the R&D, manufacturing, and sales of vacuum equipment, and it has integrated capabilities from independent equipment design to manufacturing and delivery. The company’s IPO on the Beijing Stock Exchange was accepted on June 23, 2025, and entered the inquiry stage on July 16 of the same year. On December 29, 2025, the company’s first submission to the meeting was delayed for deliberation.

At that time, at the listing committee meeting site, the listing committee raised inquiries regarding the accuracy of Guangtai Vacuum’s revenue recognition and the sufficiency of the basis for it, and requested the company to further explain the key contract terms and performance status of the projects in the reporting period whose shipment-to-acceptance time exceeded 15 months. It also asked whether there were circumstances involving negotiating with customers on the acceptance timeline and recognizing revenue across accounting periods; additionally, in comparison with the project business contract between the company and Jiangsu Pacific Quartz Co., Ltd., as well as the related supplemental agreements, to explain the main contents and implementation status of the contract terms, the subsequent breach-handling process and the specific circumstances of reaching an agreement, and whether there were similar circumstances in the reporting period and their impact.

The prospectus shows that, in its attempt to list this time, Guangtai Vacuum plans to raise approximately RMB 168 million. After deducting issuance expenses, it plans to invest in the vacuum melting furnace and sintering furnace production expansion and upgrade project, as well as the construction project for the R&D and product exhibition center.