Venture(US:VEMLY) Sou Hu Cai Jing·2025-12-29 10:29Core Viewpoint - Suzhou LQ Intelligent Equipment Co., Ltd. has been accepted for IPO on the ChiNext board, aiming to raise 913 million yuan for high-end intelligent equipment manufacturing projects, R&D center construction, and working capital [4]. Company Overview - Founded in 2015, LQ Intelligent is a leading high-end intelligent equipment manufacturer in China, focusing on R&D, production, and sales in the fields of optical communication, semiconductors, and automotive automation [4]. - The company ranks first globally in the optical module packaging equipment market and second in the optical module coupling equipment market according to Frost & Sullivan data for 2024 [4]. Financial Performance - Revenue for the years 2022 to 2025 (first half) is reported as follows: 145 million yuan, 289 million yuan, 543 million yuan, and 246 million yuan respectively [5]. - Net profit attributable to the parent company for the same period is 35.12 million yuan, 81.60 million yuan, 181 million yuan, and 69.22 million yuan respectively [5]. - The company has maintained a cash dividend policy, distributing a total of 72 million yuan over the past three and a half years [6]. Cash Flow and Financial Ratios - The net cash flow from operating activities for the years 2022 to 2025 (first half) is reported as 16.71 million yuan, 149.81 million yuan, 142 million yuan, and -24.42 million yuan respectively, with the negative cash flow in the first half of 2025 attributed to changes in customer payment policies and increased inventory for order fulfillment [6]. - The company's asset-liability ratio for the parent company is 43.06% as of June 30, 2025, showing a decrease from 56.88% in 2023 [5]. Shareholding Structure - As of the date of the prospectus, the actual controller of LQ Intelligent is Luo Chao, who directly holds 20.63% of the shares and controls 58.15% of the voting rights through various entities [8].