频准激光IPO背后：分红后欲募资补流，存货规模走高

Core Viewpoint - Shanghai Precision Laser Technology Co., Ltd. (referred to as "Precision Laser") has recently received acceptance for its IPO application on the Sci-Tech Innovation Board, driven by consistent growth in annual net profits, with a net profit of approximately 70.91 million yuan in the first half of this year [1][4]. Financial Performance - Precision Laser's revenue for the years 2022 to 2025 and the first half of 2025 is approximately 80.43 million yuan, 148 million yuan, 292 million yuan, and 180 million yuan respectively [4]. - Corresponding net profits for the same periods are approximately 33.96 million yuan, 60.46 million yuan, 116 million yuan, and 70.91 million yuan [4]. Dividend Distribution - The company distributed dividends of 5 million yuan in 2022 and 20 million yuan in the first half of 2025, totaling 25 million yuan [4][5]. - Despite the dividends, Precision Laser aims to raise funds for working capital through its IPO, indicating a need for liquidity [5]. Inventory and Accounts Receivable - The company's inventory has significantly increased, with values at the end of each reporting period being approximately 50.09 million yuan, 105 million yuan, 163 million yuan, and 205 million yuan, representing 55.05%, 57.29%, 37.4%, and 40.91% of current assets respectively [6]. - Accounts receivable at the end of each reporting period are approximately 8.87 million yuan, 14.18 million yuan, 39.48 million yuan, and 66.54 million yuan, accounting for 9.75%, 7.74%, 9.07%, and 13.26% of current assets respectively [6][7]. Research and Development Investment - R&D expenses for the reporting periods are approximately 8.67 million yuan, 22.12 million yuan, 41.71 million yuan, and 24.63 million yuan, constituting 10.78%, 14.98%, 14.29%, and 13.66% of the company's revenue respectively [7].