Recently, the official website of the China Securities Regulatory Commission (CSRC) showed that Shanghai Yijie Industrial Safety Equipment Co., Ltd. (abbreviated as "AEGIS") has terminated its listing tutoring.
This change occurred less than three years after it completed its tutoring filing with the Shanghai Securities Regulatory Bureau in December 2023.
AEGIS was established in December 2008. Its predecessor was Shanghai Yijie Industrial Security Technology Co., Ltd. It completed its joint-stock reform and changed to its current name in 2012. Registered in Minhang District, Shanghai, it is a high-tech enterprise specializing in the R&D, production, sales, and service of safety monitoring products.
In terms of fundamental business conditions, AEGIS possesses relatively complete technical accumulation in the field of industrial safety monitoring. Currently, the company's main products include smart sensors, smart instruments, alarm control systems, and accessories for safety monitoring, which are widely used in industrial manufacturing sectors such as petroleum, chemical industry, metallurgy, gas, power, and pharmaceuticals.
Since its establishment, the company has gradually built a business system centered on highly independent R&D, while mastering multi-faceted monitoring technologies including "infrared sensing, flame recognition, gas detection, and IoT."
In the field of flame and gas infrared safety monitoring, the company has broken through the import dependence on core technologies and key components from foreign manufacturers. It has now achieved broad coverage of key technologies including optical path design, software algorithms, basic components, calibration testing, and monitoring system construction. All core products possess independent R&D, design, and large-scale production capabilities.
Relying on stable product performance and good market reputation, the company has successfully accumulated domestic and international customers such as PetroChina, Sinopec, CNOOC, Shenhua Group, Mercedes-Benz, BMW, FAW-Volkswagen, Tesla, Kweichow Moutai, Wuliangye, North China Pharmaceutical, Sinopharm, 3M, UTC, BOSCH, and ARISTON.
In terms of equity structure, Zhang Jie holds 29.56% of the company's shares and is the controlling shareholder. Cheng Kun holds 20.67% of the company's shares and is a joint actual controller. Additionally, Liu Yi holds 20.67% (obtained through inheritance).
Notably, Zhang Jie and Cheng Kun are not only the founders, shareholders, and actual controllers of this company; personally, they have known each other since their youth and have stood together through thick and thin.
It is understood that both Zhang Jie and Cheng Kun graduated from Beijing Institute of Fashion Technology (formerly Beijing College of Chemical Fiber Industry) with majors in Production Process Automation. Both worked at Shenzhen Fu'an Safety System Co., Ltd. from July 1993 to December 2004. After leaving in 2005, the two founded Shanghai Anyu Intelligent Technology Co., Ltd. In December 2008, they jointly founded Shanghai Yijie Industrial Security Technology Co., Ltd. (the predecessor of AEGIS).
Regarding qualifications, the company is a National-level Specialized, Refined, Peculiar, and Innovative (SRPI) "Little Giant" Enterprise, a Shanghai High-Tech Enterprise, and a Shanghai Science and Technology "Little Giant" Enterprise. It also has a Minhang District Enterprise Technology Center and a Suzhou Gas Detection Sensor Engineering Technology Research Center.
In terms of intellectual property, according to disclosures on the company's official website, the group cumulatively owns 28 authorized invention patents, 71 utility model patents, 23 design patents, 39 software copyrights, and 12 integrated circuit layout designs.
Regarding international certifications, the company's products have obtained US UL and FM, EU ATEX, IECEx, and CE certifications, as well as SIL functional safety, EAC, and HART certifications. Market access covers countries and regions such as Russia, Central Asia, Malaysia, Myanmar, Algeria, and Nigeria.
However, the capital market's feedback on this Shanghai hard-tech enterprise contrasts sharply with its own technical accumulation.
In June 2020, AEGIS first aimed for the SSE STAR Market, with Guojin Securities acting as the sponsor. The review progress was relatively smooth: accepted by the Shanghai Stock Exchange on June 1, 2020, passed the Listing Committee review on November 6, 2020, after three rounds of inquiries, and submitted registration to the CSRC in January 2021. However, multiple issues gradually emerged during the registration phase.
On September 24, 2021, AEGIS voluntarily applied to withdraw its SSE STAR Market registration application, and the CSRC immediately terminated the issuance registration procedure. Thus, the company's first attempt in the capital market came to an abrupt halt.
Looking back at its previous capital journey, AEGIS listed on the National Equities Exchange and Quotations (NEEQ) in July 2013 (securities code 430234). During the listing period, it completed two capital increases totaling CNY 38.24 million. Trading of its stocks was suspended in July 2019, and it was officially delisted on March 12, 2021. From NEEQ listing to SSE STAR Market application and withdrawal during the registration phase, the company completed its first full capital path.
After more than two years of silence, AEGIS changed its sponsor institution on November 24, 2023, signing a listing tutoring agreement with Guotai Haitong Securities, restarting its A-share listing work. The tutoring filing report explicitly noted the reason for the termination of the previous application: "Applied for initial public offering and listing on the SSE STAR Market in June 2020, but registration was terminated in September 2021 due to issues regarding technological innovation attributes." However, during this round of tutoring, the company never publicly disclosed information regarding the completion of tutoring acceptance or submission of application materials, until the tutoring was terminated in October 2026.
Before the termination of tutoring, AEGIS continued to advance its business expansion. In June 2026, the company won bids for multiple sections of the Missan Oilfield project in Iraq. In July, its fire and gas safety monitoring equipment won the bid for the ESD emergency shutdown system upgrade project at an Iraqi oilfield, and its products obtained EAC certification in the same month. In September, the G-G710 gas detector passed the EU ATEX explosion-proof certification. In October, the company announced its participation in the Clifton Pier LNG receiving and regasification terminal project in the Bahamas. From product certification to overseas project implementation, the company's pace of internationalization in the field of industrial safety monitoring has not slowed down.
The steady advancement on the industrial side and the temporary adjustment of the capital market path constitute a contrast in the current development stage of this hard-tech enterprise. More than five years have passed since the SSE STAR Market withdrawal in 2021. The company chose to terminate this round of tutoring. Whether it will pause to build strength or adjust its target listing board remains without public explanation.
Editor | Liu Chengxing Source | Compiled from online sources