Venture(US:VEMLY) 3 6 Ke·2025-07-18 08:29Core Viewpoint - Zhejiang Xinxing Tool Co., Ltd. has initiated its IPO process on the ChiNext board, with a focus on precision CNC tool manufacturing and a projected revenue of 467 million yuan and net profit of 185 million yuan for 2024 [1][3]. Financial Performance - The company expects to achieve revenues of 391 million yuan, 425 million yuan, and 467 million yuan from 2022 to 2024, with net profits of 172 million yuan, 177 million yuan, and 185 million yuan respectively [3][4]. - The gross profit margins are projected to be 58.06%, 57.10%, and 56.49% for the same period, significantly higher than the industry average of 44.93%, 41.51%, and 38.25% [3][4]. Market Position - Xinxing Tool ranks first in sales volume for steel plate drill products among domestic tool manufacturers, as certified by the China Machine Tool Industry Association [3][6]. - The company's products are utilized in major projects such as the Qinshan Nuclear Power Station and the Shanghai Maglev Train project, with key clients including China National Railway and Bosch [3][5]. Research and Development - The company has invested a total of 65.18 million yuan in R&D from 2022 to 2024, representing approximately 5.21%, 5.15%, and 4.90% of its revenue [5][6]. - Xinxing Tool has been granted 146 patents, including 33 invention patents, and has played a role in establishing two national industry standards [5][7]. Ownership Structure - The Zhu Dongwei family controls 92.65% of the company's shares, with Zhu Dongwei serving as the chairman and general manager [8].