Yijia Additive terminates IPO on the Shanghai Stock Exchange, originally planned to raise 1.2 billion yuan, sponsored by CITIC Securities

The Shanghai Stock Exchange website disclosed yesterday a decision to terminate the review of the initial public offering of shares by Hangzhou Yijia 3D Additive Technology Co., Ltd. ( (hereinafter referred to as “Yijia Additive” )) and the application for listing on the STAR Market.

On June 30, 2025, the SSE accepted, in accordance with law, the application documents for Yijia Additive’s initial public offering of shares and listing on the STAR Market, and carried out the review in accordance with relevant regulations.

Recently, Yijia Additive and its sponsor, CITIC Securities Co., Ltd., respectively submitted to the SSE an “Application of Hangzhou Yijia 3D Additive Technology Co., Ltd. for Withdrawal of the Application Documents for the Initial Public Offering of Shares and Listing on the STAR Market” and a “CITIC Securities Co., Ltd. Application for Revocation of the Sponsorship of Hangzhou Yijia 3D Additive Technology Co., Ltd.’s Initial Public Offering of Shares and Listing on the STAR Market,” applying to withdraw the application documents. Pursuant to the relevant provisions of Article 63 of the “Rules for the Review of Stock Issuance and Listing on the Shanghai Stock Exchange,” the SSE has decided to terminate the review of Yijia Additive’s initial public offering of shares and listing on the STAR Market.

Yijia Additive is a high-tech enterprise mainly focused on R&D, production, and sales of industrial-grade additive manufacturing ( 3D printing ) equipment.

The company’s controlling shareholder is Hangzhou Yongsheng Holding Group Co., Ltd. ( (hereinafter referred to as “Yongsheng Holding” )). As of the date of signing of the prospectus, Yongsheng Holding held 30.64% of the company’s shares.

The company’s de facto controllers are father and son Li Cheng and Li Jianhao. Li Cheng and Li Jianhao, through their controlling shareholder Yongsheng Holding, hold 30.64% of the company’s shares. Li Cheng directly holds 3.51% of the company’s shares. Li Jianhao, as the general partner of Hangzhou Yongyi, holds a 1.00% stake in Hangzhou Yongyi and controls the voting rights corresponding to 2.98% of the company’s shares held by Hangzhou Yongyi. In addition, the company’s directors and general manager Wu Pengyue and the de facto controllers Li Cheng and Li Jianhao have already signed a “Voting Agreement,” under which the parties agree that, at any shareholders’ general meeting or board meeting of the company where matters involve (, the outcome shall be based on the opinions of the de facto controller Li Cheng, and the parties shall make consistent decisions. The proportion of voting rights held by Wu Pengyue is 17.40%; therefore, Li Cheng and Li Jianhao together can effectively control 54.53% of the company’s voting rights.

Yijia Additive originally planned to issue no more than 2,922.2079 million shares on the SSE STAR Market, and the proportion of such shares in the total share capital after issuance would not be less than 25%, with no public sale by shareholders. Yijia Additive originally planned to raise 120,450.88 million yuan for the Beijing Yijia 3D Metal 3D Printing expansion project, the Hangzhou additive manufacturing equipment industrialization project, the Hangzhou R&D center construction project, and the technical service network construction project.

The sponsor for this issuance is CITIC Securities Co., Ltd., with the representatives being Dong Chao and Yu Qidong.

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