Venture(US:VEMLY) Zheng Quan Shi Bao Wang·2025-10-16 14:39Core Viewpoint - Tian Su Measurement has successfully passed the IPO review by the Shenzhen Stock Exchange, marking a significant milestone for the company in its growth trajectory [1] Company Overview - Established in 2009, Tian Su Measurement is a national, comprehensive independent third-party measurement and testing service provider, specializing in calibration, testing, and certification services [3] - The company has achieved recognition as a national high-tech enterprise and has been designated as a "service-oriented manufacturing demonstration platform" and "public service platform for industrial technology foundation" by the Ministry of Industry and Information Technology [3] - As of June 2025, Tian Su Measurement has developed calibration services across ten fields, including geometric, thermal, mechanical, electromagnetic, radio, time and frequency, acoustics, optics, chemistry, and ionizing radiation, totaling 1,417 calibration services [3] Market Position and Client Relationships - The company has established long-term cooperative relationships with notable enterprises such as Shougang Group, China Railway, China National Nuclear Corporation, State Grid, and China Railway Construction, resulting in a high customer retention rate and stable client base [3] Technological Advancements - Tian Su Measurement focuses on the development of strategic emerging industries through independent research and development, enhancing its technical capabilities and service quality [4] - The company has developed twelve core technologies, including smart measurement laboratory technology and automatic calibration technology for flow meters, which support innovation in downstream strategic emerging industries [4] Financial Performance - For the years 2023 to the first half of 2025, Tian Su Measurement reported revenues of 726 million, 800 million, and 409 million respectively, with net profits of 101 million, 111 million, and 55.576 million [4] - The company has demonstrated a positive growth trend in both revenue and net profit [4] IPO Fundraising Plans - Tian Su Measurement plans to raise 424 million through its IPO, which will be allocated to projects aimed at enhancing measurement capabilities, establishing regional laboratories, building a digital center, and supplementing working capital [4] - The company believes these projects will enhance its production capacity, improve profitability, and facilitate rapid expansion of its market share [4]