Core Viewpoint - The company, Yijia Additive Manufacturing, has shown significant growth in revenue and net profit under the leadership of the new generation entrepreneur, Li Jianhao, while facing challenges in cash flow and reliance on financing [1][18][26]. Group 1: Company Performance - From 2022 to 2024, the company's revenue increased from 247 million to 471 million yuan, and net profit rose from 28.93 million to 98.81 million yuan, indicating rapid growth in both key performance metrics [1][20]. - The company plans to raise 1.205 billion yuan through its IPO to fund expansion and R&D projects [2]. - The average selling price of 3D printing equipment increased by 46.58% from 1.8452 million yuan to 2.7047 million yuan, while sales volume grew from 124 units to 163 units during the same period [21][22]. Group 2: Financial Health - Despite a net profit of 98.81 million yuan in 2024, the company experienced a significant cash flow issue, with a net cash outflow of 93.80 million yuan, compared to a net inflow of 19.67 million yuan in 2023 [26][28]. - The company's asset-liability ratio dropped dramatically from 82.63% in 2022 to 16.69% in 2024, reflecting improved debt repayment capacity [31][32]. - The company’s accounts receivable increased significantly, reaching 217 million yuan in 2024, which accounted for 46.07% of total revenue [28][29]. Group 3: Market Position and Industry Context - The global additive manufacturing market is projected to grow from 12.76 billion USD in 2020 to 21.9 billion USD in 2024, with the Chinese market expected to reach 41 billion yuan in 2023 [20][21]. - Yijia Additive Manufacturing's gross profit margin increased from 39.31% in 2022 to 45.12% in 2024, contrasting with the declining trend in the industry average [24][25]. - The company has established subsidiaries in Germany and the USA to expand its overseas market presence, with foreign sales accounting for approximately 15% of its main business revenue [22][24].

Core Viewpoint - Easy Additive Manufacturing has been accepted for IPO on the Sci-Tech Innovation Board, aiming to enhance its capital for expansion and development in the 3D printing industry [2][9]. Company Overview - Easy Additive Manufacturing, established in 2015, focuses on the research, production, and sales of industrial-grade additive manufacturing (3D printing) equipment, striving to lower the industrial application threshold of additive technology [2]. - The company is recognized as one of the advanced manufacturers of industrial-grade additive equipment globally [2]. Financial Performance - The company's revenue for the years 2022, 2023, and 2024 is reported as 247 million, 409 million, and 471 million CNY respectively [8]. - The net profit attributable to the parent company for the same years is 28.93 million, 68.58 million, and 98.81 million CNY respectively [8]. - The company's equity attributable to the parent company as of December 31, 2024, is 1.304 billion CNY, showing significant growth from 108.35 million CNY in 2022 [8]. Ownership Structure - The actual controllers of the company are Li Cheng and Li Jianhao, who collectively control 54.53% of the voting rights through their holdings [5][6]. - Li Cheng holds a direct stake of 3.51%, while Li Jianhao, as a general partner of Hangzhou Yongyi, holds 1.00% and controls an additional 2.98% of the voting rights [5][6]. Investment and Valuation - In December 2024, investment institutions including Chuanghe Xincai and Advanced Industry Investment increased their investment in Easy Additive Manufacturing, resulting in a post-investment valuation of 4.19 billion CNY [3]. - The company plans to raise 1.205 billion CNY through its IPO, which will be allocated to various projects including expansion and R&D [9].