Joeping Smart's One-Year IPO Delay: Will It Open Up Market Again?

Joeping Smart, a Chinese company, successfully went through its IPO process in March 2023 and has been pending for over a year. Despite this, it has yet to make its market debut. On April 16th, the Shanghai Stock Exchange released Joeping Smart's updated reply letter, which included the company's 2023 financial data.

According to the report, Joeping Smart's revenue and net profit both decreased in 2023, with a year-on-year decline of 6.10% and 13.53%, respectively. This marks the second consecutive year that Joeping Smart has seen a decline in its net profit.

The company attributes this decline to factors such as changes in market demand, increased competition, and decreased sales revenue.

Joeping Smart's financial data shows that its revenue grew rapidly from 2019 to 2022, but then suddenly dropped in 2023. Its net profit also experienced a similar trend, with a significant increase followed by a decline.

In terms of market demand, Joeping Smart noted that the company's major products include CNC machining centers, which have seen decreased sales revenue in 2023 due to changes in market demand and increased competition.