Core Viewpoint - Shanghai Topway Numerical Control Technology Co., Ltd. (Topway NC) has submitted its listing application to the Hong Kong Stock Exchange, aiming to capitalize on its leading position in the high-end intelligent manufacturing equipment sector, particularly in five-axis CNC machine tools for the aerospace industry in China [2][3]. Company Overview - Topway NC was established in 2007 and focuses on the research, design, production, and sales of high-end intelligent manufacturing equipment, specifically five-axis CNC machine tools [2][4]. - The company is ranked first in the Chinese aerospace five-axis CNC machine tool market with a market share of 11.6% and fifth overall in the five-axis CNC machine tool market with a 4.3% market share among all suppliers [2]. Financial Performance - For the fiscal years 2022, 2023, and 2024, Topway NC reported revenues of RMB 135.769 million, RMB 334.630 million, and RMB 531.556 million, respectively [3]. - The net profit figures for the same years were -RMB 197.314 million, -RMB 62.340 million, and RMB 6.886 million, indicating a turnaround to profitability in 2024 [3]. Leadership - Dr. Wang Yuhan, the founder and chairman, holds a 36.82% direct stake in the company, along with an additional 1.93% through an employee stock ownership platform, totaling 38.74% control [6]. - Dr. Wang has over 27 years of experience in academia and the mechanical engineering industry, having served as an associate professor at Shanghai Jiao Tong University before founding Topway NC [8].