According to the financial app Zhitong Caijing, on June 18th, Zhejiang Keteng Precision Machinery Co., Ltd. (referred to as Keteng Precision) terminated its IPO on the Growth Enterprise Market of Shenzhen Stock Exchange. This is because Keteng Precision and the underwriter withdrew their application for issuance and listing.

According to the prospectus, Keteng Precision's main business is the research and development, production, and sales of fastener products. After years of research and development investment and technological accumulation, the company's fastener products have a wide range of categories and are widely used in key parts of industries such as household appliances and automobiles for fastening and connection.

With the brand, product, and technical strength accumulated over many years, Keteng Precision has established long-term and stable cooperative relations with many domestic and foreign high-quality customers, and has gained good reputation and word of mouth among customers. Among them, fastener products for household appliances are mainly supplied to domestic household appliance giants such as Haier Group and Midea Group, and have won honors such as Haier's Best Cooperation Award, Haier's Kitchen Electrical Business Excellent Supplier Award, and Midea's Central Air Conditioning Business Gold Supplier, making it an important supplier in the domestic fastener field for household appliances.

Fastener products for automobiles are mainly supplied to well-known automobile groups such as Doer-man, Volkswagen, China FAW Group, and Dongfeng Sui-zhou Special Automobile Co., Ltd, the after-market supplier of fasteners for automobiles.

In addition, the company also provides products to international hardware product manufacturers and traders such as Fastenal, Wurth, BOSSARD, as well as internationally renowned high-end home appliance manufacturers such as AQUA (a home appliance brand owned by Haier Group after its acquisition in 2012), General Electric Appliances (GEA, acquired by Haier Group in 2016), and MABE. It has successively won the Best Performance Supplier Award and Best Service Award from Fastenal Group, and has achieved positive results in expanding overseas markets.

After deducting the issuance cost, the funds raised from the company's public offering of shares this time will be used entirely for investment projects related to the company's main business and supplementary working capital, as follows:

In terms of finance, Keteng Precision achieved revenues of approximately RMB 320 million, RMB 409 million, and RMB 419 million in 2020, 2021, and 2022, respectively; during the same period, net income was RMB 40.6395 million, RMB 49.8767 million, and RMB 71.9696 million, respectively.