Piotech (SH:688072) Bei Jing Shang Bao·2025-06-17 02:57Group 1 - The core viewpoint of the news is that Shenzhen Hengyun Chang Vacuum Technology Co., Ltd. has received acceptance for its IPO on the Sci-Tech Innovation Board, marking its entry into the A-share market [1] - Hengyun Chang is a leading domestic supplier of core components for semiconductor equipment, focusing on the research, production, sales, and technical services of plasma RF power systems, plasma excitation devices, and plasma DC power supplies [1] - The company has a significant market valuation of 3.292 billion yuan following its last market financing in December 2023 [1] Group 2 - In 2024, Hengyun Chang is projected to achieve an operating revenue of approximately 541 million yuan, with a corresponding net profit of about 143 million yuan [1] - The company has a high customer concentration, with the top five customers accounting for 73.54%, 80.39%, and 90.62% of total operating revenue during the reporting periods [2] - Sales to the largest customer, Tuojing Technology, represented 45.23%, 58.16%, and 63.13% of total revenue in the respective years, indicating a growing dependency on this client [2]