Maijin Technology's IPO application has been accepted by the Shenzhen Stock Exchange: A national-level specialized and innovative small giant, focusing on the research and sales of intelligent cycling sports products

Qingdao Maijin Intelligent Technology Co., Ltd. updated its listing application review status on the Shenzhen Stock Exchange on May 29, and the company's IPO application has been accepted. According to Wall Street Finance, the company's main business is the research, development, production, and sales of intelligent cycling sports products. Since its establishment, the company has been committed to providing integrated hardware and software intelligent products and solutions for global cycling sports users against the backdrop of the global bicycle hardware and the intelligent and electrification transformation of cycling sports. The company has received honors such as the 2023 Shandong Province "One Enterprise, One Technology" R&D Center, 2023 Shandong Province Leading Enterprise in the Sports Industry, 2024 Shandong Province Morning Star Factory, 2025 "Shandong Manufacturing · Qilu Boutique," 2025 National-level Specialized and Innovative "Little Giant" Enterprise, and 2025 Shandong Province Enterprise Technology Center. The company plans to publicly issue no more than 18,349,212 ordinary shares of RMB (A shares) to the public, accounting for no less than 25% of the total share capital after the issuance. The funds raised from this issuance, after deducting issuance costs, are intended to be invested in the following projects, with specific usage plans as follows: Phase II construction of the production base and production line upgrades and logistics automation construction project, intelligent cycling product R&D project, digitalization and brand marketing project, and replenishment of working capital. In 2025, the company's top five customers are Wahoo Fitness, Decathlon, Beijing Jingdong Century Trade Co., Ltd., EWI, and B&K Holdings (QLD) Pty Ltd. In 2025, the company's top five suppliers are Taicang Yihai Metal Products Co., Ltd. and other same-controlled entities, Longkou Jinda Motor Co., Ltd. and other same-controlled entities, Unisource Trading (Shanghai) Co., Ltd., Longkou Shengyi Machinery Co., Ltd. and other same-controlled entities, and PC Partner Limited. The company's main competitors include Wahoo Fitness, Garmin, Shimano, SuLian, Wuhan Qiwu, Chengdu ChenDian, and Zwift. Regarding industry development, the global market for intelligent cycling sports products is in a rapid expansion phase, with significant growth potential. Relevant data shows that the global bicycle accessories market size will reach USD 18.6 billion by 2025 and is expected to increase to USD 30.9 billion by 2033, with a compound annual growth rate of 6.7% from 2026 to 2033, where intelligent products are the core growth engine. The popularization of healthy living concepts and the rise of cycling culture are driving the continuous release of demand for intelligent products. Relevant data shows that the number of urban cyclists in China in 2024 has more than doubled compared to 2020, with over 60% of users willing to pay for intelligent equipment