Core Viewpoint - Shanghai Topper CNC Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange, marking its third attempt after two unsuccessful attempts at the Sci-Tech Innovation Board [1][6][7] Group 1: Company Overview - Founded in May 2007 by Wang Yuhan, Li Yuhao, and other shareholders, the company specializes in high-end intelligent manufacturing equipment [3] - The company achieved profitability in 2024, with a revenue compound annual growth rate (CAGR) of 97.9% over the past two years [1][4] Group 2: Market Position - In 2024, Topper CNC ranked first in the Chinese aerospace five-axis CNC machine tool market with a market share of 11.6% [3] - The company is ranked fifth among all suppliers in the Chinese five-axis CNC machine tool market, and third among domestic suppliers, with a market share of 4.3% [3] Group 3: Financial Performance - Revenue for the years 2022 to 2024 was 136 million, 335 million, and 532 million yuan, respectively, with a CAGR of 97.9% [4] - Net profit for the same period was -197 million, -62 million, and 6.886 million yuan, achieving profitability in 2024 [4] Group 4: Product Offerings - The product portfolio includes aerospace intelligent manufacturing equipment, compact general-purpose five-axis machine tools, and large carbon fiber composite five-axis machine tools [3] - The company sold the world's first five-axis machine tool that fully utilizes carbon fiber composite materials in all moving parts [3] Group 5: IPO and Funding - The IPO proceeds will be used for research and development, expanding sales and marketing networks, potential acquisitions and investments, and repaying part of the interest-bearing bank loans [9] - Prior to the IPO, Wang Yuhan directly held 36.82% of the shares and controlled an additional 1.93% through an employee stock ownership platform, totaling 38.74% [10]

Core Viewpoint - Shanghai Topu Numerical Control Technology Co., Ltd. has submitted its IPO application to the Hong Kong Stock Exchange after two unsuccessful attempts at the Sci-Tech Innovation Board, marking a significant step in its growth trajectory [1][8]. Group 1: Company Overview - Founded in May 2007 by Wang Yuhan, Li Yuhao, and two other shareholders, the company specializes in the research, design, production, and sales of high-end intelligent manufacturing equipment [4]. - The company achieved profitability in 2024, with a revenue compound annual growth rate (CAGR) of 97.9% over the past two years [2][5]. Group 2: Market Position and Product Offering - In 2024, Topu ranked first in the Chinese aerospace five-axis CNC machine tool market with a market share of 11.6%, and fifth among all suppliers in the five-axis CNC machine tool market with a 4.3% share [4]. - The five-axis CNC machine tool market is projected to grow from 10.8 billion yuan in 2024 to 27 billion yuan by 2029, at a CAGR of 20.1% [4]. - The product portfolio includes aerospace intelligent manufacturing equipment, compact general-purpose five-axis machine tools, and large-size carbon fiber composite five-axis machine tools [4]. Group 3: Financial Performance - Revenue for the years 2022 to 2024 was 136 million yuan, 335 million yuan, and 532 million yuan, respectively, with net profits of -197 million yuan, -62 million yuan, and 6.886 million yuan, indicating a turnaround to profitability in 2024 [5][6]. - In 2024, 94.7% of total revenue was derived from the sales of aerospace intelligent manufacturing equipment [6]. Group 4: IPO Journey and Future Plans - This marks the third attempt for the company to go public, having previously submitted applications in June 2019 and June 2020, both of which were withdrawn or terminated [8]. - The funds raised from the IPO will be allocated for research and development, expanding sales and marketing networks, potential acquisitions, and repaying part of the interest-bearing bank loans [9].