Shining 3D's BSE IPO Review Suspended Due to Expired Financial Reports, Will Apply for Resumption After Audit Update

Image Source: Shining 3D's Announcement Regarding the Progress of Applying for a Public Offering of Shares and Listing on the Beijing Stock Exchange and the Trading Halt

DentalGoodNews | On March 31, 2026, the Beijing Stock Exchange (hereinafter referred to as the "BSE") agreed to the suspension of the application by Shining 3D Technology Co., Ltd. (hereinafter referred to as "Shining 3D") for the review of its public offering of shares to unspecified qualified investors and listing. According to the announcement, the primary reason for the suspension of the review is that the validity period of the financial report (with a cut-off date of June 30, 2025) referenced in the company's application documents is about to expire.

Shining 3D stated that, in view of the imminent expiration of the financial report's validity period, the company submitted an application to suspend the review to the BSE in accordance with relevant regulations such as the "Beijing Stock Exchange Rules for the Review of Public Offerings of Shares to Unspecified Qualified Investors and Listing". Upon completion of the related work, the company will apply to the BSE to resume the review as soon as possible. Previously, according to a prior report by DGN, Shining 3D passed the listing guidance acceptance inspection by the Zhejiang Regulatory Bureau on December 25, 2025, submitted its IPO application materials on December 26, 2025, and its stock was suspended from trading on December 29.

Founded in 2004, Shining 3D is one of the early domestic enterprises engaged in the research, development, and industrialization of 3D digitalization technology. Its products are widely used in industries such as dental healthcare, assisting domestic and international clinics and dental laboratories in achieving industrial upgrades. In terms of performance, the company's 2025 annual reviewed report shows that it achieved annual operating revenue of 1.575 billion yuan, a year-on-year increase of 31.03%; Net Profit Attributable to Shareholders of the Parent Company reached 425 million yuan, a year-on-year increase of approximately 100%.

During the IPO process, Shining 3D received an inquiry letter from the BSE on January 22, 2026. Due to the substantial workload involved in preparing the response to the inquiry, the company applied for an extension to reply in February. The inquiry focused on aspects such as the authenticity of its overseas revenue and the rationality of its fundraising projects.

The company reminds investors that the matter of the public offering of shares and listing on the BSE still requires procedures such as exchange review and registration by the China Securities Regulatory Commission, and there are risks of failing to pass the review or being unable to list due to a failed offering. As the related matters are still ongoing, Shining 3D's stock will continue to be suspended from trading.