联讯仪器设立初期实控人代持存疑点，采购数据仍有矛盾

Core Viewpoint - Suzhou Lianxun Instrument Co., Ltd. is a leading high-end testing instrument company in China, focusing on the R&D, manufacturing, sales, and service of electronic measurement instruments and semiconductor testing equipment, currently applying for an IPO [1] Company Background - The company was founded by Hu Haiyang, who was still employed at Shanghai Chengxun Information Technology Co., Ltd. as a marketing director when Lianxun was established [2] - Hu Haiyang's previous company also operates in the high-speed communication testing equipment sector, indicating potential overlaps in technology and market [2] - Lianxun Instrument applied for its first patent in July 2017, shortly after Hu left his previous position, which raises questions about potential competition restrictions [2] Financial Performance - The company reported a cash dividend of 21.0641 million yuan in 2022, despite having an undistributed profit of -44.1161 million yuan at the end of 2022 and a net profit of -38.07 million yuan for the same year [3] - Financial projections show a significant turnaround, with expected net profits of 96.643 million yuan for the first nine months of 2025, compared to a net loss of -55.3938 million yuan in 2023 [4] - The basic earnings per share are projected to improve from -1.95 yuan in 2022 to 1.26 yuan in 2025 [4] Supply Chain and Procurement - The procurement prices for key materials, such as the CoC optical chip loading and unloading system, show discrepancies between supplier quotes and the company's reported prices, indicating potential cost management strategies [5][6] - The company has established relationships with multiple suppliers for critical components, which may enhance its supply chain resilience [6]