Following the withdrawal of the IPO application in January 2026, Yadian Technology, a photovoltaic equipment service provider, once again launched a second impact on the IPO. On May 25, the company completed a new round of IPO guidance filing in Jiangsu Securities Regulatory Bureau.
Yadian Technology is the first enterprise in China to realize the large-scale production of 8-inch high-temperature phosphoric acid tank wet cleaning equipment, which is used in photovoltaic equipment production services and other fields. In June
2025, it submitted its first IPO application to the Shanghai Stock Exchange, but it was terminated only seven months later. It is mainly subject to customer concentration soaring to 92.26% ( Longji Green Energy's single contribution exceeds 50%), sharp fluctuations in net profit (-93.99 million yuan-10.36 million yuan-85.12 million yuan-11.06 million yuan), accounts receivable up to 202 million yuan and negative cash flow. The intellectual property lawsuit initiated by Jiejia Weichuang, a superimposed competitor, during the critical period of IPO audit is still under trial.
The intention of Yadian Technology to restart its IPO is to expand the production of high-end equipment, promote the research and development of advanced processes and optimize the customer structure with the help of capital.
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