This week, China's A-share market will see five new stocks open for subscription.

From December 15 to December 19, investors can subscribe to shares of Ningbo Jansen Superconducting Technologies Co., Ltd. (Jansen Superconducting, 688805), Suzhou Jiangtian Packaging Technology Co., Ltd. (Jiangtian Technology, 920121), Shanghai Re·Fine Environment Sci-Tech Ltd. (Re·Fine Tech, 001396), Maxone Semiconductor (Suzhou) Co., Ltd. (Maxone Semiconductor, 688809), and Inner Mongolia Shuangxin Environment-Friendly Material Co., Ltd. (Shuangxin Environment, 001369).

Jansen Superconducting, available for subscription on Monday, is the world's largest third-party independent supplier of superconducting magnets for medical MRI systems. The company specializes in core components for MRI equipment, including superconducting and permanent magnets. Since 2015, it has broken the monopoly of欧美 and Japanese manufacturers in zero-evaporation superconducting magnets, particularly in 1.5T products, alongside United Imaging Healthcare, becoming one of China's earliest mass producers of high-field superconducting magnets.

**Subscription Schedule:** - **Monday (Dec 15):** Jansen Superconducting (688805) - **Tuesday (Dec 16):** Jiangtian Technology (920121) - **Friday (Dec 19):** Re·Fine Tech (001396), Maxone Semiconductor (688809), Shuangxin Environment (001369)

**Key Highlights:** 1. **Jansen Superconducting (688805):** - Global leader in medical MRI superconducting magnets, supplying GE Healthcare and other top-tier manufacturers. - Revenue from Fujifilm Holdings accounted for 42.7% in 2024. - Comparable peers: United Imaging Healthcare (PE-TTM 51.09x, gross margin 46.06%).

2. **Jiangtian Technology (920121):** - Specializes in label printing for FMCG giants like Nongfu Spring and Unilever. - 2024 revenue: ¥538 million, net profit: ¥102 million (29.97% gross margin).

3. **Maxone Semiconductor (688809):** - Breaks foreign monopoly in MEMS probe cards for semiconductor testing.

4. **Shuangxin Environment (001369):** - Produces PVA, VAC, and calcium carbide for industrial applications.

**New Listings:** On Tuesday (Dec 16), Beijing OnMicro Electronics (688790) will debut. A leading domestic RF front-end chipmaker backed by Xiaomi and Huawei, it has cracked the 5G L-PAMiD module market dominated by international players.

**Last Week’s IPO:** Biocytogen Pharmaceuticals (688796) surged 146.63% on its first trading day (Dec 10), closing at ¥65.8/share.

**IPO Approvals:** Six companies passed reviews last week, including Linping Development (recycling) and Hongming Electronics (electronics).

**Upcoming Reviews:** - **Dec 16:** Sunwoda Intelligent (battery equipment), CETC Blue Sky Tech (power systems). - **Dec 18:** Chuangda New Materials (semiconductor packaging). - **Dec 19:** Goode Electric (battery insulation), Saiying Electronics (power semiconductor components), Changyu Group (zirconium products).

**HKEX Updates:** - **Subscriptions (Dec 15–19):** Zhihui Mining (02546.HK), CIDI (03881.HK), B&K Corp-B (02396.HK). - **New Applications:** Six companies, including Mainline Tech and Childen’s Place, filed for IPOs.

**Funding Highlights:** 1. **Dec 8:** Holyzone Biotech (DNA repair drugs) raised ¥100M+ Series A. 2. **Dec 8:** Dream Aerospace secured ¥200M Series A. 3. **Dec 10:** Tongjiahongrui (semiconductor vacuum pumps) completed ¥1B+ Series B+. 4. **Dec 12:** Sibeitu raised ¥400M Series C.