On the evening of February 1st, the GEM Issuance Supervision Department announced the basic information of the companies reporting initial public offerings (as of January 31, 2012), and Jiaozuo Brake Co., Ltd. (hereinafter referred to as "Jiaozuo Brake") was among them. The progress of the declaration is displayed as "suspended review".

On the morning of February 1st, a director of the Jiaozuo Brake Department Office told reporters that “Jiaozuo Brake was formally filed for listing in 2011 and is currently in the review stage. The company is preparing to list on the GEM of the Shenzhen Stock Exchange.” The above person did not explain it. Audit results.

"Jiaozuo Brake is still early in the market and it has to wait for the results of the review by the Securities and Futures Commission." Previously, people close to the Jiaozuo Brake sponsoring agency also told reporters. On January 12th, the "Hongyuan Securities Co., Ltd. Issuance of a Public Offering of Company's Public Offerings to Unspecified Targets" issued by Tianshan Stock Co., Ltd. (000877.SZ) disclosed that Jiaozuo Brake has filed an IPO. Its sponsor institution is Hongyuan Securities, and its sponsor representative is Han Zhiqian.

Article 22 of the “Procedures for the Implementation of Administrative Licensing Procedures of the China Securities Regulatory Commission” stipulates that in the process of reviewing application materials, one of the following circumstances shall be decided upon to suspend the review and notify the applicant. (1) The applicant is suspected Violation of laws and regulations was investigated by the administrative authorities, or was investigated by the judicial authorities, and the case has not yet been closed, which has a major impact on its administrative licensing matters; (2) The applicant has been restricted by the China Securities Regulatory Commission in terms of business activities, ordered to suspend business for rectification, designated other institutions for trusteeship, and took over the management. The regulatory measures have not been lifted yet; (3) The provisions of the relevant laws, administrative regulations and rules need to further clarify the specific meanings and request the relevant authorities to give explanations; (4) The applicant has requested to suspend the review on the grounds justified.

As of the deadline, the reporter still did not receive the specific reasons for the suspension of the Jiaozuo brake.

According to information from the Henan Administration of Industry and Commerce, the Jiaozuo Brake was established on January 15, 2001 with a registered capital of RMB 60 million. Its main business is the research, development, production and sales of brake systems.

The company's predecessor was Jiaozuo Brake Factory. In 2001, Jiaozuo Brake (Group) Co., Ltd. was the main sponsor, and China National Heavy Duty Truck, Zhengzhou Hi-tech and other seven corporate legal persons jointly initiated the establishment of a joint-stock company.

According to a report by Henan Cultural Industry Network on November 29, 2011, Jiaozuo Brake's sales revenue for the first nine months of 2011 was 230 million yuan, a year-on-year increase of 13.61%. This data has also been confirmed by the company.

According to an article in the “Forum” in 2004-07, the financial data of Jiaozuo Brake for the first three years was disclosed. In 2001, Jiaozuo Brake achieved a sales income of RMB 58.0371 million and a profit of RMB 5,254,200; in 2002, the sales revenue was RMB 60.44 million. The profit was 8.6811 million yuan. In 2003, the sales revenue was 76.8641 million yuan and the profit was 100.497 million yuan.

As compared with the above data, the sales revenue of Jiaozuo Brake in 2011 was about three times that of 2003.

The “Twelfth Five-Year Plan for National Economic and Social Development of Jiaozuo City” shows that the Jiaozuo Brake Project is planned to build an annual output of 80,000 sets of industrial brake technology upgrading and expansion projects, and an annual output of 50,000 sets of wind power yawing brake technology. Upgraded and expanded the project, Henan Province Brake Engineering Technology Center research and innovation capacity building and other projects. "To achieve sales revenue of 5 billion yuan by 2015."

According to this statement, Jiaozuo's brakes will have at least a dozen times of sales growth in the next five years.

But does Jiaozuo Brake know if the GEM can maintain its high growth?

Since the Jiaozuo Brake Prospectus has not been disclosed, the reporter has no way of knowing its specific financial data.

However, at present, among the listed A-share companies, Huawu Co., Ltd. (300095.SZ), which is a GEM board in the same sub-industry, has continued to decline after listing in July 2010.

Huawu's 2011 annual performance forecast shows that the 2011 net profit attributable to shareholders of listed companies decreased by 50%-80% compared with the same period of last year.

The company said that the main reason for the decline was “because of the slowdown in macroeconomic growth, the demand for customers has slowed down, and the sales volume of the company's industrial brake products market has not improved significantly compared to the same period last year, resulting in no increase in sales revenue compared to the same period. ”

In the previous three quarters of 2011, the company's performance was also down year-on-year, and the net profit attributable to shareholders of listed companies was 14.14 million yuan, a year-on-year decrease of 30.33%.

Judging from the past performance of Huawu Shares, the Jiaozuo Brake GEM Board may still need to work hard.

However, there are some differences between the two main businesses. "Wu Wu shares are more inclined to port machinery, while Jiaozuo brakes mainly produce various types of industrial brakes, wind yaw brakes, automotive anti-lock brake system (ABS) and other products." An industry source said.