Doublestar's IPO in Shenzhen Stock Exchange passed the meeting of the Listing Committee, and it has been certified by China CCS, LR of UK, ABS of USA, BV of France, etc.

On November 1, China Shipbuilding Group Double-Crane (Luoyang) Special Equipment Co., Ltd. (hereinafter referred to as Double-Crane) passed the Shenzhen Stock Exchange's board meeting for its IPO. The sponsor of this IPO is China Securities. The company plans to raise RMB653.74 million. The prospectus shows that Double-Crane's predecessor is Luoyang Double-Crane Special Equipment Co., Ltd., which was established in 2005 by the Eighth Room (cast and forged steel), the Tenth Room (expansion joints and pressure vessels), and the Twelfth Room (bridge bearings) of the 725th Research Institute. In 2012, the high-pressure cylinder business of the First Room of the 725th Research Institute was merged into the Company. In 2022, the Company was transformed into a joint-stock company. Double-Crane has been deeply engaged in its main business for many years. Based on its profound accumulation in long-term research and application in material application, functional structure design, etc., it focuses on engineering service requirements such as high cold, earthquake, high salt in special natural environments, high and low temperature, negative high pressure, high corrosion in harsh working conditions, and high friction, high load, dynamic load, etc., and continuously carries out innovation. It has formed three leading industries of bridge safety equipment, pipeline compensation equipment, and special materials products and two emerging industries of high-efficiency energy-saving equipment and energy storage and transportation equipment. Double-Crane's bridge safety equipment mainly includes bridge bearings, bridge seismic isolation devices, bridge expansion joints, and turntable ball joints and other series of products; pipeline compensation equipment mainly includes metal bellows expansion joints, sleeve compensators, and special materials heat exchangers; special materials products mainly include flow parts, flanges, and fasteners; high-efficiency energy-saving equipment mainly includes large temperature difference absorption heat pumps, steam type waste heat recovery heat pumps, and air source heat pump drying rooms; energy storage and transportation equipment mainly includes cylinders, container bundles, and gas bottle groups. The Company's products are widely used in bridge construction, energy and chemical industry, shipbuilding, heating engineering, high-efficiency energy-saving, energy storage and transportation, etc. Double-Crane has established a complete quality, environment, occupational health and safety, energy, internal control and other management systems, and has obtained CRCC, CCPC, EU CE certification, obtained special equipment design and manufacturing, pressure pipeline component design and manufacturing licenses, obtained ASME, DOT, EU TPED certifications, and obtained China CCS, UK LR, US ABS, France BV certifications from ship classification societies. In terms of finance, Double-Crane achieved revenue of approximately RMB1.262 billion in 2021, RMB1.336 billion in 2022, RMB1.611 billion in 2023, and RMB743 million in the first half of 2024; during the same period, the Company achieved net profit of RMB105 million, RMB89.97 million, RMB111 million, and RMB51.25 million, respectively.