RIGOL(SH:688337) Zhi Tong Cai Jing·2025-09-29 12:48Core Viewpoint - Puyuan Precision Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor [1]. Company Overview - Puyuan Precision is a leading electronic measurement instrument company in China, ranked as the largest by revenue and eighth globally in 2024 according to Frost & Sullivan [4]. - The company offers a comprehensive range of electronic measurement instruments and solutions, serving over 100,000 end customers in more than 90 countries and regions through its "RIGOL" brand [4]. - Puyuan Precision has established a robust product matrix driven by core technology, including digital oscilloscopes, RF instruments, DC precision instruments, and modular instruments [4]. Market Potential - The global test and measurement instrument market is projected to reach approximately RMB 110 billion in 2024, with a compound annual growth rate (CAGR) of 8.6% expected from 2025 to 2029, reaching around RMB 170 billion by 2029 [5]. - In 2024, the top ten companies in the market will include seven overseas firms and three Chinese companies, accounting for about 80.1% of the market share [5]. Financial Performance - Puyuan Precision's revenue for the fiscal years 2022, 2023, and 2024 is reported as approximately RMB 630.57 million, RMB 670.54 million, and RMB 775.83 million, respectively [6]. - The company achieved profits of approximately RMB 92.49 million, RMB 107.95 million, and RMB 92.30 million for the same fiscal years [6]. - For the six months ending June 30, 2024, the revenue was approximately RMB 307.14 million, with a profit of RMB 15.06 million [6].