Core Insights - Shenzhen Hengyun Chang Vacuum Technology Co., Ltd. successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, becoming the first listed company in Bao'an District and Shenzhen in 2026 [1][2] Company Overview - Hengyun Chang's public offering price was 92.18 CNY per share, with an opening price of 310 CNY, reflecting a surge of 236.3% [4] - The company has evolved into an industry benchmark over 12 years, transitioning from breaking overseas monopolies to leading domestic replacements [4][5] Technological Advancements - The core of Hengyun Chang's rise is its focus on technological breakthroughs, integrating multiple disciplines such as power electronics and plasma physics [7] - The company has developed three major foundational technologies and eight product support technologies, addressing key areas like signal sampling and phase locking [11] Research and Development - As of the end of 2024, over 40% of the company's workforce is dedicated to R&D, with a continuous increase in R&D investment from 2022 to 2024, totaling nearly 114 million CNY, which is 11.11% of the cumulative revenue during the same period [9] - The company has established a robust supply chain with 111 local suppliers, enhancing cost control and supply chain resilience [7] Financial Performance - From 2022 to 2024, the company's revenue grew from 158 million CNY to 541 million CNY, while net profit increased from 26.39 million CNY to 143 million CNY, indicating significant growth in both scale and profitability [14] - The company has attracted investments from various industry funds since 2021, further supporting its development [14] Future Plans - Hengyun Chang aims to continue its focus on the semiconductor sector, tackling core components for advanced processes, and plans to integrate RF power technology with big data and AI to expand into solar and display panel applications [16] - The company has received international certifications and intends to actively explore overseas markets to enhance its global competitiveness [16] Industry Context - The total number of listed companies in Bao'an District has reached 85, with 51 companies having submitted IPO applications or completed counseling filings, indicating a robust pipeline of potential listings [18] - Bao'an District has become a leader in the number of new domestic A-share listings, particularly in strategic emerging industries such as electronics, chips, and semiconductors [20]
2026深圳首个A股上市！从打破海外垄断到引领国产替代的跨越，恒运昌在科创板成功上市！