Venture(US:VEMLY) Sou Hu Cai Jing·2025-09-10 15:12Group 1 - The core viewpoint of the article is the introduction of Beijing HCRT Electrical Equipments Co., Ltd., a leading domestic supplier of smart distribution equipment, which is set to launch its IPO on September 11 [3][4]. - The company was established in 2007 and focuses on the research, production, and sales of smart distribution equipment, including smart ring network cabinets, smart pole switches, and box-type substations [4][5]. - The company has shown steady revenue growth in recent years, with projected revenues of 5.6 billion yuan, 6.72 billion yuan, and 8.67 billion yuan for the years 2022, 2023, and 2024 respectively [5][6]. Group 2 - Financial projections indicate that total assets will grow from 6.6654 billion yuan in 2023 to 7.4481 billion yuan by mid-2025, while net assets are expected to increase from 3.2286 billion yuan to 4.9857 billion yuan in the same period [5][6]. - The company aims to raise a total of 5.86 billion yuan through this IPO, with funds allocated for the production of smart ring network cabinets, smart pole switches, and the establishment of a smart distribution research and development center [6][10]. - The IPO price is set at 21 yuan per share, corresponding to a price-to-earnings ratio of 21.02, which is lower than the average static P/E ratio of comparable listed companies at 22.7 [7][10].