易思维（杭州）科技股份有限公司首次公开发行股票并在科创板上市上市公告书提示性公告

Listing Overview - The company, 易思维 (Yisiwei), will issue 25 million shares of common stock, all of which are new shares, resulting in a total share capital of 100 million shares post-IPO [2] - The listing date on the Shanghai Stock Exchange's Sci-Tech Innovation Board is set for February 11, 2026 [1] Share Lock-up and Liquidity - Initial lock-up periods for original shareholders are 36 months or 12 months from the listing date, with certain strategic investors having a 12-month lock-up and a 6-month lock-up for 10% of the shares allocated to offline investors [3] - The total number of freely tradable shares at the initial listing will be approximately 19.28 million, representing 19.28% of the total share capital, indicating potential liquidity risks due to the limited number of circulating shares [3] Industry Valuation Comparison - The company operates in the instrument manufacturing industry, classified under C40, with an average static P/E ratio of 44.28 times as of January 28, 2026 [4] - The IPO price of 55.95 yuan per share corresponds to a diluted P/E ratio of 90.39 times for 2024, which is higher than the industry average but lower than comparable companies in the same sector [6] Financing and Margin Trading - Stocks listed on the Sci-Tech Innovation Board can be used as collateral for margin trading from the first day of listing, which may introduce price volatility and liquidity risks [7]