Core Viewpoint - Torrens Precision Manufacturing (Jiangsu) Co., Ltd. has received acceptance for its IPO on the ChiNext board, with CICC as the sponsor, indicating a significant step towards raising capital for its operations in the precision metal components sector [1]. Company Overview - Torrens is a leading comprehensive service provider in the R&D, production, and sales of precision metal components, focusing on high-performance key process components for semiconductor equipment [1]. - The company also covers the laser equipment field, providing necessary components for high-power lasers [1]. Financial Performance - The total assets of Torrens are projected to grow from 400.29 million yuan in 2022 to 1.365 billion yuan by June 30, 2025, reflecting a substantial increase [2]. - The net profit attributable to shareholders is expected to rise from 33.94 million yuan in 2022 to 60.85 million yuan in the first half of 2025 [2]. - The operating revenue is forecasted to increase from 282.1 million yuan in 2022 to 373.44 million yuan in the first half of 2025 [2]. - The company has shown a significant improvement in its asset-liability ratio, decreasing from 78.64% in 2022 to 38.16% by June 30, 2025 [2]. Shareholding Structure - The actual controller of Torrens is Qian Ke, who holds 100% of Torrens Shanghai and controls 48.2357% of the voting rights through various holding platforms [5]. - Key executives include Qian Ke as Chairman and CEO, with significant shareholdings in related companies [3][5]. Executive Compensation - In 2024, Qian Ke's total compensation is reported at 2.4854 million yuan, while CFO Xu Hongyan's compensation is 2.9031 million yuan [6].