Core Viewpoint - Balanshi (920112.BJ) has initiated its subscription with an issue price of 15.78 CNY per share and a price-to-earnings ratio of 10.15 times, focusing on the automotive maintenance and repair equipment sector [1] Company Overview - The company specializes in the research, development, production, and sales of automotive maintenance, inspection, and repair equipment, including tire changers, balancing machines, lifts, refrigerant recovery and charging machines, and pneumatic oil extractors [1] - It is one of the largest manufacturers in the domestic automotive maintenance equipment industry, with a sales network covering most provinces, autonomous regions, and municipalities in China [1] - The company has established a strong brand presence in the domestic market, serving notable clients such as BYD, Li Auto, Great Wall Motors, and major automotive service chains [1] Intellectual Property and Standards - As of December 31, 2024, the company holds a total of 226 patents, including 20 invention patents, and has 18 software copyrights [2] - A subsidiary participated in drafting the national standard for automotive lifts published by the Ministry of Transport in February 2021 [2] Certifications and Awards - The company's products have received various domestic and international certifications, including ISO9001, CE, and TÜV [3] - The "UNITE" brand has been recognized as a famous trademark in Shanghai, and the company has received multiple awards from the China Automotive Maintenance Equipment Industry Association [3] Financial Performance - The company reported revenues of approximately 643 million CNY, 794 million CNY, and 1.057 billion CNY for the years 2022, 2023, and 2024, respectively [4] - Net profits for the same years were approximately 30 million CNY, 80 million CNY, and 129 million CNY [4] - Total assets increased from approximately 479 million CNY in 2022 to about 707 million CNY in 2024, with total equity rising correspondingly [5]