Xinxing Tools passes the GEM IPO review

LightningPacketLoss · 2026-04-03T15:07:52+00:00

Zhejiang Xinxing Tools Co., Ltd.'s GEM IPO was approved on March 31, but it has been temporarily suspended due to expired financial data requiring supplementary information. The company focuses on the research and production of hole processing tools and plans to raise 560 million yuan. The listing committee requires the company to provide a detailed explanation of the sustainability of its performance and risk factors.

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2026-04-03 15:07:52

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Beijing Business Today (Reporters Ma Huanhuan, Li Jiaxue) On the evening of March 31, the official website of the Shenzhen Stock Exchange showed that Zhejiang Xinxing Tool Co., Ltd. (hereinafter referred to as “Xinxing Tool”) had passed the review for its ChiNext IPO that same day. However, because the financial materials recorded in the IPO application documents have exceeded their validity period, additional submissions are required, and the company’s IPO is currently suspended.

It is understood that Xinxing Tool is a company that produces hole-machining cutting tools. Since its establishment, it has consistently focused on the research and development, production, and sales of drilling cutting tool products in the hole-machining cutting tools segment. The company’s IPO was accepted by the Shenzhen Stock Exchange on June 23, 2025, and entered the inquiry stage on July 9 of that year. In this latest bid to go public, Xinxing Tool plans to raise 560 million yuan.

At the meeting venue of the Listing Committee, the Listing Committee required Xinxing Tool to explain, in light of factors including the market size and changing trends of its main products, its technical level and innovativeness, fluctuations in raw material prices, outstanding orders on hand, and the fund-raising projects for which the proceeds will be used, whether the company’s performance can sustain continued growth and whether there are risks of decline.

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