During the three trading days before the National Day holiday, two niche leaders in their respective fields are set to open for subscription in the A-share market.
According to statistics compiled from Wind and public information, this week (September 28 to September 30) has two new stocks scheduled for subscription: Nantong Lianya Pharmaceutical Co., Ltd. (hereafter "Lianya Pharmaceutical," 301569) and Guizhou Nanfang Dairy Co., Ltd. (hereafter "Nanfang Dairy," 920196). Among them, Lianya Pharmaceutical is a high-tech enterprise engaged in the research, development, and production of high-end generic drugs. Nanfang Dairy holds a leading position in the Guizhou regional dairy industry with well-known regional brands such as "Shanhua" and "Huaxi Old Yogurt."
New Stock Subscriptions This Week
According to the timetable, both Lianya Pharmaceutical (301569) and Nanfang Dairy (920196) are scheduled for subscription on Monday (September 28).
Wind data shows that Lianya Pharmaceutical is a research-driven high-tech enterprise primarily engaged in the development, production, and sales of complex pharmaceutical formulations. Its current products mainly include two major categories of high-end generic drugs: sustained and controlled-release formulations of various types and low-dose pharmaceutical formulations. At the same time, the company leverages its leading drug design capabilities and formulation process technology to provide research and development and other services to pharmaceutical companies and research institutions. All of the company's products meet the definition of "high-end generic drugs."
According to a research report by Kaisa Securities, Nanfang Dairy primarily deals in low-temperature dairy products, ambient dairy products, milk-containing beverages, and raw fresh milk, and holds well-known regional brands such as "Shanhua" and "Huaxi Old Yogurt." Its comprehensive strength places it firmly at the top of the Guizhou regional dairy industry. In 2025, more than half of the company's raw milk supply comes from its own pastures outside the province, and raw fresh milk procurement prices have steadily declined in line with market conditions and are gradually stabilizing. On the sales side, the company operates a dual model of distribution and direct sales, deeply cultivating the local Guizhou market while vigorously expanding direct sales channels including corporate and institutional group purchases, student milk programs, e-commerce, and home milk delivery. On the financial front, from 2021 to 2025, the company's revenue and net profit attributable to shareholders have continued to grow steadily, with 2025 revenue reaching 1.839 billion yuan and net profit attributable to shareholders of 221 million yuan.
New Stock Listings This Week
According to the timetable, two new stocks are currently scheduled for listing this week: Hongfucheng (301716) and Anda Co., Ltd. (920202), both set to list on Tuesday.
Wind data shows that Hongfucheng is a national-level specialized and sophisticated "little giant" enterprise focused on the research, development, and industrialization of advanced electronic functional materials and devices, including thermal management, electromagnetic shielding, and wave-absorbing materials. Its products mainly include thermal interface materials and electromagnetic shielding and wave-absorbing materials. These materials are critical for ensuring the reliability and stable operation of various electronic information products, and are widely used in data centers (AI high-power chips, optical modules, etc.), smart vehicles, 5G communications, and consumer electronics. In the thermal management field, the company is one of the very few in the industry capable of mass-producing graphene thermal pads and achieving large-scale application, competing directly with leading international materials companies. With innovative products such as graphene thermal pads and metal-carbon matrix composites, the company has entered the thermal interface materials supply chain of a leading global AI chip company and is supplying in bulk. The company is also one of the very few domestic enterprises that have successfully achieved small-batch supply of TIM1 thermal interface materials.
Wind data shows that Anda Co., Ltd. is primarily engaged in the research, development, production, and sales of precision aluminum alloy die-castings for the automotive sector. Its main products include powertrain system components such as oil pans and covers, new energy three-electric system components such as inverter housings and motor housings, and suspension system components such as mounting brackets.
Last week, a total of four new stocks were listed. On September 24, Bairuiji (920201) was listed on the Beijing Stock Exchange at an issue price of 16.77 yuan per share. As of the first-day closing price, the stock closed at 72.35 yuan per share, a gain of 331.43%. Based on the closing price, investors who won one lot saw a floating profit of 5,558 yuan. On September 23, Kaida Heavy Industry (920025) was listed on the Beijing Stock Exchange at an issue price of 4.26 yuan per share. As of the first-day closing price, the stock closed at 29 yuan per share, a gain of 580.75%. Based on the closing price, investors who won one lot saw a floating profit of 2,474 yuan. On September 22, Century Digital (920229) was listed on the Beijing Stock Exchange at an issue price of 15.67 yuan per share. As of the first-day closing price, the stock closed at 132 yuan per share, a gain of 742.37%. Based on the closing price, investors who won one lot saw a floating profit of 11,600 yuan. On September 22, Zhongsui Co., Ltd. (301686) was listed on the ChiNext board at an issue price of 55.28 yuan per share. As of the first-day closing price, the stock closed at 433 yuan per share, a gain of 683.29%. Based on the closing price, investors who won one lot saw a floating profit of 188,900 yuan.
IPO Review Approvals Last Week
In terms of review by the Public Offering Review Committee, last week the Shenzhen Stock Exchange and the Beijing Stock Exchange held new sessions of their listing review committee meetings. Among them, Suzhou Langgao Electric Technology Co., Ltd. (hereafter "Langgao Technology"), which plans to list on the ChiNext board, and Kejian Polymer Materials (Shanghai) Co., Ltd. (hereafter "Kejian Co., Ltd."), which plans to list on the Beijing Stock Exchange, both successfully passed their reviews.
Latest Hong Kong Stock Market Developments
In the Hong Kong stock market, Wind data shows that this week (September 28 to October 2) has no new stock subscription arrangements. Last week, Orbbec Technology Group Co., Ltd., Guangdong Rising DabaoShan Copper Industry Co., Ltd., and Chaoying Electronic Circuits Co., Ltd. filed their Hong Kong IPO prospectuses for the first time. Guangzhou Wenshi Information Technology Co., Ltd. updated its Hong Kong IPO prospectus. Shenzhen Transsion Holdings Co., Ltd. and Beijing ESWIN Computing Technology Co., Ltd. passed Hong Kong listing hearings.
Major Investment and Financing Events
1. On September 24, Langgui Technology announced the completion of nearly 200 million yuan in Pre-A+ round financing. Investors in this round include GL Ventures, Zhiwei Capital, SenseTime Guoxiang, Jiayi Venture Capital, Feitu Venture Capital, Zhongqi Capital, and existing shareholder Oriental Fortune Capital, among others.
2. On September 23, Aowei Lingxin announced that it had completed the full delivery of funds for its Pre-A+ round financing this month, with an amount exceeding 200 million yuan. This Pre-A+ round introduced Suchuang Investment, Guoxin Guozheng, Puhua SME Phase II, Chengdu Peikun, and others, as well as SigmaStar Technology, Juhe Capital, Shenzhen Industrial Investment, and Amara Yuehai.
3. On September 23, Chixin Semiconductor officially completed over 200 million yuan in Series A+ financing. This round was led by Shanghai Yanpu Precision Technology (Group) Co., Ltd., with joint participation from Hunan Jinxia Shengshi Equity Investment Fund Partnership (Limited Partnership), Shanghai Quectel Communication Technology Co., Ltd., and Changsha Lushan Investment Holding Group Co., Ltd.
4. On September 22, Huachao Shenkong announced the completion of 200 million yuan in Pre-A round financing. This round was jointly led by Sequoia China and Yunqi Capital, with participation from Proxima Investment, Oriza Holdings, Xuhui Science and Technology Innovation Investment, and Deshi Investment, while existing shareholders Matrix Partners China and Delian Capital continued to increase their investments.
5. On September 21, Shudian Intelligence announced the completion of multiple rounds of financing totaling several hundred million yuan. The investors disclosed this time include CRRC, PetroChina Kunlun Capital, Zhongguancun Science City, Binxin Steel, Yingjia Gongjiu, Caixin Capital, and Shenzhen Lihe, while existing shareholders Legend Capital, SAIF Partners, and Hongniao Qihang Capital continued to add across multiple consecutive rounds.