Jiayuan Technology's Shenzhen Stock Exchange GEM IPO “terminated”

The Zhitong Finance App learned that on May 23, Jiayuan Technology Co., Ltd. (Jiayuan Technology) Shenzhen Stock Exchange GEM IPO review status changed to “terminated”. Due to the withdrawal of the issuance and listing application by Jiayuan Technology and its sponsor, the Shenzhen Stock Exchange decided to terminate its issuance and listing review in accordance with Section 62 of the “Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision)”.

According to the prospectus, Jiayuan Technology is a high-tech enterprise focusing on providing IoT terminals and digital solutions in the field of intelligent power. It is committed to improving the sensing, communication and data processing capabilities of power terminal equipment and systems using IoT technologies such as IoT communication and intelligent power algorithms.

The company's main products and solutions are used in all aspects of the power system to achieve functions such as data collection, transmission, calculation, monitoring, regulation and simulation decision-making, and promote the rapid construction of new power systems.

During the reporting period, the company was mainly engaged in R&D, production and sales of intelligent power IoT terminals such as intelligent integrated terminals (TTU) and low-voltage branch monitoring units (LTU), and provided digital solutions such as intelligent distribution stations and remote intelligent inspection. It has rich reserves in related technologies in the field of electricity and the Internet of Things.

Jiayuan Technology said that the core technology formed by the company during independent R&D and production practices has been industrialized, and has a certain technological leadership in the industry. In addition, the company's related R&D and innovation achievements have also been successfully applied to smart power IoT application fields such as remote intelligent inspection, digital lean management of production safety, and digital upgrading of low-voltage stations, and further expanded to new power system scenarios such as new energy microgrids.