Core Viewpoint - Beijing Qianjing Wuyou Electronic Technology Co., Ltd. has submitted a report for public offering and listing on the Beijing Stock Exchange, aiming to become a key player in the power IoT and smart distribution field [1][2] Company Overview - Founded in 2009, Qianjing Wuyou has a registered capital of 100 million yuan and is recognized as a high-tech enterprise and a national "specialized, refined, and innovative" small giant [1] - The company holds various qualifications including integrated circuits, CMMI3, and system integration, with proprietary intellectual property in chips, software, and artificial intelligence [1] - Qianjing Wuyou's main business includes power IoT carrier communication products, metering products, distribution network products, and digital solutions [1] Financial Performance - In 2024, the company achieved a revenue of 701.7 million yuan, representing a year-on-year growth of 20.54% - The net profit for the same year was 107.9 million yuan, with a year-on-year increase of 23.42% [1] Market Potential - The global power line carrier communication market is projected to reach 5.83 billion USD by 2029, driven by China's dual carbon goals and the demand for new power systems [2] - The global smart meter market is expected to grow from 7.8 billion USD in 2022 to 10.7 billion USD by 2027, with a compound annual growth rate of 6.5% [2] - Qianjing Wuyou's core products are widely used in smart meters, distribution network automation, and charging piles, positioning the company to benefit from the industry's growth [2] Shareholding Structure - The actual controller of the company, Jing Zhijun, directly holds 32.34% of the shares and indirectly controls an additional 22.22% through Deqing Jianyang Enterprise Management Partnership, totaling 54.56% of the voting rights [2] Strategic Implications - The initiation of the listing process on the Beijing Stock Exchange marks a new phase of capitalization for Qianjing Wuyou, which is expected to enhance its R&D capabilities and market competitiveness [2] - With the accelerating transformation of the global energy structure and the growing demand for smart grids and digitalization in power, Qianjing Wuyou is poised for rapid development and aims to become a significant player in the power IoT sector [2]