Core Viewpoint - Semit Information Group Co., Ltd. has received feedback from the CSRC regarding its overseas listing application, highlighting the company's position as a leading provider of smart industrial software solutions in China [1][2]. Group 1: Company Overview - Semit has submitted a listing application to the Hong Kong Stock Exchange in September, with Haitong International, CITIC Securities, and CITIC Jianzhong International as joint sponsors [1]. - As of June 30, 2025, Semit is projected to have 758 clients, including six of the top eight wafer fabs, the top three semiconductor silicon wafer manufacturers, and the top three packaging and testing companies in China [1]. Group 2: Revenue and Financial Performance - The primary revenue sources for Semit are smart manufacturing software solutions and operational management software solutions [2]. - Revenue figures for 2022, 2023, and 2024 are projected to be 181 million, 287 million, and 500 million RMB, respectively, with gross profits of 76.78 million, 126.09 million, and 197.81 million RMB, leading to gross margins of 42.4%, 44%, and 39.6% [2][4]. - The company reported a net profit of -80.91 million, 24.57 million, and 73.83 million RMB for the years 2022, 2023, and 2024, with profit margins of -44.7%, 8.6%, and 14.8% [3][4]. Group 3: Cash Flow and Financial Health - Semit's operating cash flow has been negative in recent years, with outflows of 71 million, 88.3 million, 0.74 million, and 58.4 million RMB for 2022, 2023, the first half of 2024, and the first half of 2025, respectively [4][5]. - The company has indicated that it may continue to record negative operating cash flows in the future [4]. Group 4: Shareholder Structure and Equity Changes - The controlling shareholder, Jiasih Lianchuang Investment, holds approximately 52.92% of the voting rights, while other shareholders collectively hold about 53.47% [5][6]. - The CSRC has requested clarification on the pricing basis for past capital increases and share transfers, as well as the legitimacy of the employee stock incentive plan [7][8]. - Semit has undergone multiple rounds of capital increases since 2017, with the most recent round completed in December 2023, increasing its registered capital from 155.83 million to 159.58 million RMB [7].

Core Viewpoint - The article highlights the significance of industrial software in the context of Industry 4.0, emphasizing its role as a crucial tool for digital transformation and a driving force for global smart manufacturing development. The recent IPO application of Samit Information Group Limited in Hong Kong is a key development in this sector [1]. Company Overview - Samit has developed the industry's first and only full-stack smart manufacturing and management software solution, positioning itself as the largest provider in China's advanced industrial software market by revenue in 2024 [2]. - The company has successfully expanded its business from the semiconductor sector to various industries, including power, electronics, automotive, and biomedicine, resulting in a growing customer base of 758 clients by June 30, 2025 [2]. Financial Performance - Samit's revenue has shown robust growth, with figures of 181 million RMB in 2022, 287 million RMB in 2023, and 499.7 million RMB in 2024, reflecting a compound annual growth rate (CAGR) of 66.13% over three years [3]. - The company has turned profitable, with profits of 24.5 million RMB in 2023 and 73.8 million RMB in 2024, following losses of 80.9 million RMB in 2022 [3]. Business Segmentation - The primary revenue source for Samit is its smart manufacturing software solutions, which generated revenues of 1.8 billion RMB in 2022, 2.54 billion RMB in 2023, and 3.73 billion RMB in 2024, with a CAGR of 43.9% [4]. - The management software solutions segment has seen explosive growth, with revenues increasing from 0.9 million RMB in 2022 to 101.1 million RMB in 2024, achieving a CAGR of 959.9% [6]. Industry Outlook - The industrial software market in China is projected to grow from 197.4 billion RMB in 2020 to 294 billion RMB in 2024, with a CAGR of 10.5%, and is expected to reach 467 billion RMB by 2029 [8]. - The advanced industrial software market, which includes sectors like semiconductors and high-end equipment manufacturing, is anticipated to grow from 17.1 billion RMB in 2020 to 31 billion RMB in 2024, with a CAGR of 16.1% [8]. Competitive Landscape - The advanced industrial software market in China is currently dominated by foreign giants, but domestic companies like Samit are rapidly emerging due to increasing demand for localized and controllable software solutions [11]. - Despite being the largest domestic player, Samit holds only a 1.5% market share in the advanced industrial software sector, indicating significant room for growth [11].

Core Viewpoint - China's manufacturing industry remains the largest globally for 14 consecutive years, providing a robust foundation for the industrial software market, which is projected to reach CNY 2,940 billion in 2024 and CNY 4,670 billion by 2029, with a CAGR of 9.7% [1] Company Overview - Semitron Information Group Co., Ltd. (referred to as "Semitron") is a leading provider of intelligent industrial software solutions in China, headquartered in Shanghai, and has recently submitted an IPO application to the Hong Kong Stock Exchange [1][2] - The company was established in 2017 and has since expanded its product offerings, including automation software for various industries [2] - Semitron has received multiple rounds of financing, with a post-investment valuation of approximately CNY 6.383 billion as of December 2023 [2] Financial Performance - Semitron's revenue from intelligent manufacturing software solutions has decreased slightly but remains above 70%, while revenue from management software solutions has increased from 0.5% to 28.6% during the reporting period [7] - The company recorded revenues of approximately CNY 1.81 billion in 2022, CNY 2.87 billion in 2023, and projected CNY 5 billion in 2024, with a net profit of CNY 2.4565 million in 2023 [9][11] - Operating cash flow has been negative, with net outflows of approximately CNY 71 million in 2022 and CNY 88.3 million in 2023, which may limit the company's operational funding [8] Market Position - The advanced industrial intelligent manufacturing software market in China is projected to grow from CNY 171 billion in 2020 to CNY 310 billion in 2024, with a CAGR of 16.1% [13] - Semitron holds a 1.5% market share in the advanced industrial intelligent manufacturing software sector, ranking first among domestic companies, but faces competition from major players like Siemens and GE [16] Product Offerings - Semitron provides a wide range of intelligent manufacturing software solutions, including MES, EAP, YMS, SPC, and more, primarily targeting large state-owned enterprises [4][7] - The company plans to develop its own ERP software to enhance market share and meet domestic innovation trends [4] Leadership - The chairman and CEO, Li Gangjiang, has over 20 years of experience in the software industry, having previously worked for major tech companies like Microsoft and Google [3][2]

作为全球最大的制造国，中国制造业规模已连续14年稳居世界第一，还拥有全球规模最大、门类最齐全的制造业体 系，这为我国工业软件市场提供了巨大的发展土壤。 据灼识咨询资料，2024年中国工业软件市场规模达到2940亿元，预计在2029年达到4670亿元，年复合增长率为9.7%。 该领域已跑出海康威视、用友网络、宝信软件等上市公司，如今又有来自上海的企业冲击IPO。 格隆汇获悉，近日，赛美特信息集团股份有限公司（简称"赛美特"）向港交所递交招股书，拟在香港主板上市，海通 国际、中信证券、中信建投国际为其联席保荐人。 赛美特是国内领先的智能工业软件解决方案提供商，发展过程中获得了来自华为、比亚迪、立昂微的融资。如今工业 软件市场情况如何？不妨通过赛美特来一探究竟。 1 董事长为微软前员工，华为、比亚迪入股 赛美特总部位于上海市闵行区，其前身特劢丝软件科技（上海）有限公司2017年成立。 2019年公司成为国内首个签约12英寸晶圆厂的厂商，还在2021年扩展EAP、RMS等设备自动化软件产品，同时布局非 半导体智能制造领域业务。 公司已获得多轮融资，其中在2023年12月的C+轮融资中，赛美特投后估值约63.83亿元； ...