According to Tongbi Finance, Zhejiang Kairuibo Technology Co., Ltd. (stock abbreviation: Kairuibo, stock code: 873999) announced on June 8 that it has signed a listing guidance agreement with Industrial Securities Co., Ltd. and submitted the guidance filing application materials for listing on the Beijing Stock Exchange to the Zhejiang Securities Regulatory Bureau on the same day, officially starting its IPO journey.

As Tongbi Finance understands, Kairuibo was founded in 1982 and is headquartered in Changxing County, Huzhou City, Zhejiang Province. It is a national high-tech enterprise deeply engaged in the research, development, production, and sales of label printing substrates, and is also one of the first specialized and innovative small and medium-sized enterprises in Zhejiang Province. As an important leader in the global fabric trademark industry, the company's main business covers a series of products including functional coated tapes, edge-cutting ribbons, woven edge tapes, and smart labels, which are widely used in fields such as clothing, footwear, bags, home textiles, and outdoor products. After years of accumulation, the company has obtained 48 patents, ranking among the top in the industry, and has participated in the formulation of industry standards such as "Woven Trademark Tapes," with strong technical strength and customer resources.

Financial data shows that Kairuibo has maintained stable operational quality in recent years. According to the audited data disclosed in the announcement for the last two years, the net profit attributable to shareholders of the listed company for the fiscal years 2024 and 2025 (calculated based on the lower of net profit before and after deducting non-recurring gains and losses) is expected to be 48.1942 million yuan and 47.8688 million yuan, respectively, with a weighted average return on net assets (calculated based on the lower of net profit before and after deducting non-recurring gains and losses) of 18.62% and 16.06%, respectively. Both core indicators meet the listing financial thresholds stipulated in the "Beijing Stock Exchange Stock Listing Rules (Trial)." The company also stated that it meets the conditions for public issuance of stocks as stipulated in the "Beijing Stock Exchange Registration Management Measures for Public Issuance of Stocks to Unspecified Qualified Investors," and there are no circumstances that would prohibit listing on the Beijing Stock Exchange as specified in the "Listing Rules."

From an industrial perspective, the label printing substrate industry is located upstream of the garment accessory supply chain, with high barriers in technology, customer certification, and green qualifications. Kairuibo's independently developed core processes, such as high-fastness coating material manufacturing technology, green recyclable printing material manufacturing technology, and digital inkjet printing material manufacturing technology, have established a strong differentiated competitive advantage. The company's products are sold globally, with overseas revenue maintaining a long-term share of over 60%, and its customer base includes international industry leaders such as Avery Dennison, demonstrating significant advantages in global layout and customer stickiness.

The partnership with Industrial Securities to initiate listing guidance on the Beijing Stock Exchange marks a new stage in Kairuibo's capital operations. The Beijing Stock Exchange, as the main platform serving innovative small and medium-sized enterprises, is highly compatible with Kairuibo's "specialized, refined, distinctive, and innovative" enterprise attributes. If the subsequent guidance acceptance and issuance listing review proceed smoothly, the company is expected to leverage the power of the capital market to further break through capacity bottlenecks, broaden financing channels, and enhance research and innovation capabilities, consolidating its leading position in the label printing substrate field.

However, the company also issued a risk warning in the announcement: there is a risk that the public issuance of stocks and listing on the Beijing Stock Exchange may not pass the issuance listing review by the Beijing Stock Exchange or the registration by the China Securities Regulatory Commission, and there is a risk of being unable to list on the Beijing Stock Exchange due to the failure of the public issuance. The company promises to strictly fulfill its information disclosure obligations in accordance with the progress of relevant matters and legal regulations