IPO Observation: 16 months have passed, and Kotech remains in "on hold" state: net profit drops by 50%, operating cash flow worsens, accounts receivable averages around 3 billion
As of June last year, Shenzhen Kotech Technology Co., Ltd. (Kotech) submitted an IPO application to the Shanghai Stock Exchange and has been in a \"on hold\" state for 16 months. From a performance pe
As of June last year, Shenzhen Kotech Technology Co., Ltd. (Kotech) submitted an IPO application to the Shanghai Stock Exchange and has been in a "on hold" state for 16 months. From a performance perspective, after a decline in overall profits last year, Kotech's net profit dropped by 50% in the first quarter of this year; meanwhile, its operating cash flow worsened.
![IPO Observation: 16 months have passed, and Kotech remains in \](https://fs-cms.hexun.com/img/2023-11-23/211247852.jpg "IPO Observation: 16 months have passed, and Kotech remains in \")
Poor performance is evident
Net profit was "cut off" in the first quarter
The IPO application has been pending for over a year, and as of September 30th this year, Kotech's audit report showed that it had not submitted the necessary financial statements, which led to the suspension of the review. As of now, the company remains in a "on hold" state.
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