Core Viewpoint - Jiangsu Hanbang Technology has initiated its IPO, leveraging policy support and market demand, with a focus on core technology and high R&D investment to expand production capacity and R&D centers, promoting domestic substitution and innovation in chromatography separation and purification equipment [1][3]. Group 1: Company Overview - Jiangsu Hanbang Technology Co., Ltd. specializes in the R&D, production, and sales of chromatography technology, widely applied in pharmaceuticals and life sciences [4]. - The company is one of the earliest in China to master complete proprietary liquid chromatography system technology, covering all stages from laboratory to industrial production and various drug categories [4]. - Hanbang Technology ranks second in the production-grade liquid chromatography separation equipment market in China, with a market share of approximately 12.7% [4]. Group 2: Market Dynamics - The Chinese liquid chromatography equipment market exceeded 2.7 billion yuan in 2023, with Hanbang holding significant market shares of 39.2% in small molecule liquid chromatography systems and 8.8% in macromolecule chromatography systems [4]. - The chromatography equipment market has surpassed 10 billion yuan, driven by increasing global demand, domestic market expansion, and supportive national policies [4]. Group 3: R&D and Innovation - Hanbang Technology has invested significantly in R&D, with expenditures rising from 2,204,120 yuan in 2021 to 4,184,600 yuan in 2024, reflecting a strong commitment to technological innovation [5]. - The company has obtained 53 invention patents, including 40 domestic and 13 overseas patents, showcasing its strong R&D capabilities [5]. Group 4: IPO Fund Utilization - The funds raised from the IPO will be primarily allocated to expand production capacity and enhance R&D center construction [5][6]. - Specific projects include the production of 1,000 units of liquid chromatography series separation equipment and the establishment of a chromatography separation equipment R&D center [6][7]. - These initiatives aim to solidify Hanbang's leadership position in the industry and promote high-quality development [8].