On February 6, 2024, Hunan Jingxun Optoelectronics Co., Ltd. applied for the withdrawal of the issuance and listing application documents, and the Shenzhen Stock Exchange decided to terminate the review of its initial public offering** and listing on the main board. 
Hunan Jingxun Optoelectronics Co., Ltd. *** Jingxun Optoelectronics").Specializing in the research and development, design, production and sales of liquid crystal display products, providing customers with high-quality, diversified liquid crystal display products and services. The company's main products include monochrome LCD screens, monochrome LCD modules, color LCD modules, and actively extend to new display fields such as capacitive touch screens, touch display modules, and integrated display and control smart screens to meet the increasing performance needs of users such as human-computer interaction, flexible display, and intelligent control. According to the prospectus, the company's product system is complete, and the company has a leading industry position in China and even the world in the field of high-reliability, low-power, high-customization and cost-effective monochrome liquid crystal display. The company has established the largest monochrome LCD production base in China, and has more than 10 LCD module packaging lines. From 2020 to 2022, the company's monochrome LCD product sales ranked first in the country for three consecutive years.
First, the world's leading, with a prominent market position.
The company's products are used in many leading terminal manufacturing enterprises around the world, including Midea, Gree, Wasion Information, Kinpo, Jabil, Omron, Aiander, Casio, Texas Instruments, Honeywell, Mitsubishi, Panasonic, Lexin Medical, etc., and some subdivided products in the fields of industrial control and Internet, medical health, smart home appliances and other fields occupy an important position in the global market. Controlling shareholder and actual controller
The company's equity ratio is dispersed, and the shareholding ratio of any single shareholder does not exceed 30%, and the company does not have a controlling shareholder. The actual controllers of the company are Chen Yimin, Li Ganlun and He Shuchun, who have signed the "Concerted Action Agreement" and directly and indirectly hold a total of 5358% of the shares, and control a total of 5817% of the voting rights. Key financial data and financial indicators
The specific listing criteria selected by the issuer: The net profit in the last three years is positive, and the cumulative net profit in the last three years is not less than 1500 million yuan, the net profit in the latest year is not less than 60 million yuan, and the cumulative net cash flow generated by operating activities in the last three years is not less than 100 million yuan or the cumulative operating income is not less than 1 billion yuan. Use of Proceeds
The number of ** in this public offering is not less than 2,234000000 shares, accounting for no less than 25% of the total share capital after issuance, is expected to raise 500 million yuan, the company's actual raised funds will be used for the following projects after deducting the issuance costs:
Question 1: About industry and businessApplication materials and feedback replies are displayed:
(1) The LCD industry will enter a more extensive, deeper and more diversified stage of development, and it is estimated that the future monochrome LCD products will reach a market space of 150-30 billion. (2) The issuer and listed companies in the same industry, such as Tianshan Electronics, Juncheng Technology, Akita Micro, Yashi Optoelectronics, etc., belong to the field of professional customized liquid crystal display, and the products are mainly small and medium-sized and customized according to the individual needs of customers in various downstream fields.
Issuer please:(1) Combined with the development of various technologies in the field of professional display, the technical characteristics and application fields of liquid crystal display, the development trend of downstream industries, and the capacity investment in the industry in recent years, the growth space, industry development trend and competitive pattern change trend of the monochrome color liquid crystal display industry are analyzed and illustrated; Analyze the market capacity, production capacity and changes in the monochrome color LCD industry, mutual substitution, and changes in the performance of comparable companies in the same industryExplain whether there is overcapacity in the LCD industry, especially in the monochrome LCD industry where the issuer is located
2) Combined with the comparison of comparable companies in the same industry of the company in terms of assets, revenue, profits, production line scale of various products, shipments, market share, technical level, and selected listed sectorssaidWhether the company is representative of the industry。(3) Explain the amount and proportion of the company's monochrome LCD screen sales and self-use during the reporting period; List the differences and reasons for the product structure, size, and other aspects of comparable companies in the same industry. (4) Explain the similarities and differences between the issuer and comparable companies in the same industry, as well as their respective competitive advantages and disadvantages in terms of business model, product structure, technical and technological advantages, application fields, sales areas, customer groups, etc.; Combined with the specific situation and advantages of the issuer in customized development, precision manufacturing, rapid response, quality control, etcExplain the specific embodiment of the issuer's competitiveness; Combined with the above situation, the issuer's business development space is illustrated
5) Explain the main business, equity structure, enterprise nature and qualifications or awards obtained by Qunzhi Consulting and CINNO Research, and the authority of their relevant research reports; Illustrate the market space of monochrome liquid crystal display products in the futureThe market share of some of the company's subdivided products and other data and measurement methods, and whether the relevant data are true and accurate。Ask the sponsor for a clear opinion.
Question 2: Historical evolution and shareholdersApplication materials and feedback replies are displayed:
(1) Chen Yimin, the largest shareholder of the issuer, established Shenzhen Jingxun Electronics in 2003 (hereinafter referred to as Shenzhen Jingxun Electronics), mainly engaged in the liquid crystal display industry, and Shenzhen Jingxun Electronics was cancelled in 2015. (2) Based on years of business accumulation and contacts in the flat panel display industry, Li Huanyi assisted Crystal Optoelectronics to integrate the assets and teams related to the LCD segment of Elec & Eltek, a foreign-funded enterprise, and used his own resources to assist Crystal Optoelectronics in overseas business development, making outstanding contributions to Crystal Optoelectronics to achieve breakthroughs in overseas markets and obtain a long-term development foundation. Among the partners of the issuer's employee shareholding platform, Chenzhou Ruizhongxiang, there are some non-employees of the company, mainly friends or relatives of the actual controller, and former employees of the company
(4) The actual controllers of the issuer, Chen Yimin, Li Ganlun and He Shuchun, signed the "Concerted Action Agreement", which is valid from the date of signing the agreement to the date of the issuer's public offering in the **market** and listing for 36 months. Issuer please:
1) Explain the operation of Shenzhen Jingxun Electronics, the reasons for cancellation, the compliance of production, operation and cancellation, the disposal or placement of relevant assets, businesses and personnel, and whether there are disputes over creditor's rights and debts; The reason for the new approach to the main body of Crystal Optoelectronics. (2) Explain the specific circumstances of Elec & Eltek, including but not limited to the shareholding structure, main business, assets, customers, etc. before the acquisition; the timing and specific process of the company's integration of Elec Eltek, and the specific role played by Li Huanyi in assisting the company in integrating Elec & Eltek and implementing overseas business development; Explain the specific situation of the company's construction of the second phase of the plant and CTP production line, the acquisition of the Giant Plus production line in Taiwan, China, and the production line of Dongguan Zhongxing Electric Appliances, including but not limited to time, amount, and impact on the company's production and operation; Combined with the aforesaid acquisitions, explain the evolution of the issuer's existing business, production lines, production capacity, personnel, customers, products, etc., as well as the integration of acquisitions, and whether the issuer has stable control over the relevant subsidiaries and businesses.
Combined with the type of partners, composition, and whether it provides services to the issuer, it explains the reasons and compliance of identifying Chenzhou Ruizhongxiang as an employee shareholding platform, whether it constitutes share-based payment, and whether the relevant accounting treatment complies with the relevant provisions of the Accounting Standards for Business Enterprises No. 11 - Share-based Payment and the requirements on share-based payment in the Guidelines for the Application of Regulatory Rules - Issuance No. 5 of the China Securities Regulatory CommissionExplain whether the disagreement or dispute resolution mechanism in the Concerted Action Agreement that "if it is impossible to reach a common opinion of at least two shareholders acting in concert due to various circumstances, it shall be deemed that the three shareholders acting in concert have a veto opinion on the proposal", has an impact on the determination of joint control and whether it affects the effectiveness of corporate governance
The sponsor is requested to express a clear opinion, and the issuer's lawyer and reporting accountant are requested to express a clear opinion on relevant matters. 
Question 4: About employeesThe application materials are displayed:
(1) At the end of the reporting period, the number of employees of the issuer was 2,230, 2,261 and 2,132 respectively. The issuer's employee turnover rate in 2021 and 2022 was 5395% and 4578%
Issuer please:(1) Explain whether the number and structure of employees match the scale of the business; Whether the education, major, and experience of R&D technicians match the company's core technical level; Whether there is a significant difference between the per capita output value and personnel structure and the company in the same industry, and if so, explain the reasons and reasonableness of the difference.
Supplementary information on the resignation of various types of employees during the reporting period; Explain the reasons and reasonableness of the high turnover rate of employees, and whether it is consistent with that of comparable companies in the same industry; Explain whether the high employee turnover rate has an adverse impact on the stability of the issuer's production and operation, product quality and reliability, etc。Ask the sponsor and the issuer's lawyer to give a clear opinion.