Core Viewpoint - Oat Technology (688312) experienced a significant stock price increase, with a rise of nearly 15% to over 34 yuan, following the release of its third-quarter report, which showed substantial growth in revenue and net profit, alongside a record high in cash flow from operating activities [1][2] Financial Performance - In Q3, the company achieved a revenue of 223 million yuan, representing a year-on-year growth of 19.11%, and a net profit attributable to shareholders of 67.51 million yuan, up 51.88% year-on-year [2] - For the first nine months of the year, total revenue reached 452 million yuan, a year-on-year increase of 25.34%, with net profit at 96.45 million yuan, reflecting a growth of 40.11% [2] - The cash flow from operating activities exceeded 100 million yuan for the first three quarters, marking a historical high for the same period [2] Business Focus and Growth Potential - Oat Technology specializes in automation and intelligent testing equipment, providing comprehensive solutions to meet customer needs in automated production [4] - The company has established long-term partnerships with eight of the top ten global FPC manufacturers, indicating a strong foothold in the traditional consumer electronics FPC testing equipment market [4] - New business developments include significant progress in semiconductor testing equipment, with products like MEMS sensor testing devices and SiP chip testing devices gaining traction [4][5] - The automotive electronics sector is also a focus, with products such as vehicle-mounted FPC testing equipment receiving orders from high-quality industry clients [4] Research and Development - The company was recognized as a national-level "specialized, refined, and innovative" small giant enterprise, highlighting its technological capabilities and market influence [7] - In the first three quarters, R&D expenditure reached 88.69 million yuan, a historical high, with R&D investment consistently exceeding 15% of revenue from 2018 to 2024 [7] - The company is expected to maintain high growth, with projected net profit growth rates of 24.08%, 25.94%, and 22.59% for this year, next year, and 2027, respectively [6]

Group 1 - The actual controller and major shareholder of Oat Technology, Liu Yan, plans to reduce his shareholding by no more than 2,912,000 shares through block trading due to personal funding needs, which represents up to 2% of the total share capital of the company [1] - As of the announcement date, Liu Yan directly holds 66,528,000 unrestricted circulating shares, accounting for 45.69% of Oat Technology's total share capital, all of which were acquired before the company's initial public offering [1] - Oat Technology was listed on the Shanghai Stock Exchange on June 8, 2020, with an issuance of 35.87 million shares at a price of 19.68 yuan per share, and the highest price on the first trading day reached 69.00 yuan [1] Group 2 - The total amount raised from the initial public offering of Oat Technology was 705.92 million yuan, with a net amount of 626.12 million yuan after deducting issuance costs, which was 87.91 million yuan more than the original plan [2] - The original fundraising plan was 538.21 million yuan, intended for automation testing equipment and supporting construction projects, research and development center construction projects, and to supplement working capital [2] - The issuance costs for the initial public offering amounted to 79.80 million yuan, including underwriting fees of 59.02 million yuan [2]