Venture(US:VEMLY) Sou Hu Cai Jing·2025-12-26 01:46Core Viewpoint - The company, Si Yi Technology, has received approval for its IPO on the ChiNext board, aiming to raise 1.5 billion yuan for various projects and working capital [4][5]. Group 1: Company Overview - Si Yi Technology specializes in the research, manufacturing, and sales of electronic measurement instruments, making it one of the most comprehensive companies in the domestic electronic measurement instrument industry [4]. - The company’s main products include complete machines, testing systems, and components [4]. Group 2: IPO Details - The IPO plans to raise a total of 1.5 billion yuan, with allocations for high-end electronic measurement instrument production line upgrades, new mobile communication testing R&D, technology innovation center construction, and working capital [5]. - Of the total funds raised, 542 million yuan (36%) is designated for working capital [5]. Group 3: Financial Performance - The company reported revenues of 1.949 billion yuan in 2022, 2.153 billion yuan in 2023, 2.052 billion yuan in 2024, and 993 million yuan in the first half of 2025 [6]. - Net profit attributable to the parent company was 228 million yuan in 2022, 190 million yuan in 2023, 275 million yuan in 2024, and 160 million yuan in the first half of 2025 [6]. - The company experienced a negative cash flow from operating activities of 117 million yuan in the first half of 2025, primarily due to the payment schedule of major clients [7][8]. Group 4: Shareholding Structure - As of the date of the prospectus, China Electronics Technology Group Corporation directly holds 41.74 million shares, accounting for 50.54% of the total share capital [10]. - The company is controlled by China Electronics Technology Group Corporation and its affiliates, which collectively hold 57.20 million shares, representing 69.27% of the total share capital [10].