Zhong Guo Jing Ji Wang·2025-10-17 07:47Core Viewpoint - Shenzhen Tian Su Measurement and Testing Co., Ltd. has been approved for its initial public offering (IPO) on the Shenzhen Stock Exchange, marking it as the 60th company to pass the review this year [1] Company Overview - Tian Su Measurement is a national, comprehensive independent third-party measurement and testing service provider, focusing on calibration, testing, and certification services across various sectors including biomedicine, automotive, new energy, rail transportation, energy and electricity, light industry, and equipment manufacturing [1] - The company plans to raise approximately 423.9 million yuan (around 42.39 million) for projects including enhancing measurement and testing capabilities, establishing regional testing laboratories, building a digital center, and supplementing working capital [2] Shareholding Structure - The major shareholder, Gong Tianbao, directly holds 33.9 million shares, accounting for 69.31% of the total share capital, making him the controlling shareholder [2] - Gong Tianbao's spouse, Wu Baixiang, holds 450,000 shares (0.92%) and is an acting partner in several related entities, effectively controlling 85.86% of the voting rights [2] IPO Process and Underwriting - The underwriting institution for Tian Su Measurement's IPO is China Merchants Securities Co., Ltd., marking it as the fifth successful IPO project for the firm this year [1][2] - The company has undergone scrutiny regarding its sales expense ratio and R&D investment intensity, with questions raised about its ability to adapt to industry technological upgrades and sustain performance growth [3][4]