Core Viewpoint - Jiangsu province is experiencing a significant surge in IPOs, reflecting a broader trend of industrial upgrading and innovation in the region [2][14]. Group 1: Company Overview - Hanbang Technology Co., Ltd. officially listed on the Sci-Tech Innovation Board with an initial price of 22.77 yuan per share, opening with a 115% increase, resulting in a market capitalization exceeding 4.3 billion yuan [2]. - The company was founded in 1998 and specializes in chromatography technology, which is essential for the pharmaceutical industry [3][5]. - Hanbang Technology has developed a dynamic axial compression column, breaking the long-standing foreign monopoly in chromatography technology [5]. Group 2: Financial Performance - Hanbang Technology's revenue for 2022, 2023, and 2024 is projected to be 480 million yuan, 610 million yuan, and 690 million yuan respectively, with a compound annual growth rate of 19.75% [6]. - The company's net profit for the same years is expected to be 38.56 million yuan, 51.50 million yuan, and 79.34 million yuan respectively [6]. - The company has achieved a market share of approximately 12.7% in the production-grade liquid chromatography equipment market, ranking second among domestic brands [5]. Group 3: Market Expansion - Hanbang Technology's international business has shown rapid growth, with overseas revenue increasing from 2.94 million yuan in 2022 to 17.87 million yuan in 2024, representing a growing share of total revenue [8]. - The company has expanded its customer base beyond pharmaceuticals to include sectors such as petrochemicals, rare earths, health products, and food materials [8]. Group 4: Investment and Support - Hanbang Technology has received support from multiple venture capital and private equity firms, completing at least eight rounds of financing, with notable investors including Sequoia China and Huada Gene [9][10]. - The company was valued at 3.6 billion yuan prior to its IPO, with the founder holding 38.58% of the shares [9]. Group 5: Industry Context - Jiangsu province has surpassed 700 listed companies, accounting for nearly one-eighth of the total in China, indicating a robust environment for IPOs and industrial growth [14][15]. - The province is home to five trillion-yuan cities and has the highest number of national-level specialized "little giant" enterprises, showcasing its manufacturing prowess [15][16].