On April 28, China Electronics Technology Group SiYi Technology Co., Ltd. (SiYi Technology) passed the listing committee review for its initial public offering on the Shenzhen Stock Exchange's ChiNext board. Guotai Haitong Securities acted as the sponsor for the offering, which aims to raise 1.5 billion yuan. According to the prospectus, SiYi Technology is a high-tech enterprise specializing in the research and development, manufacturing, and sales of electronic measurement instruments. It boasts the most comprehensive product categories and the widest frequency spectrum coverage in China's electronic measurement instrument industry. Its main products include complete machines, test systems, and components. The company is also currently the only Chinese electronic measurement instrument enterprise capable of competing comprehensively with international leaders in the fields of microwave/millimeter wave, photoelectric, communication, and basic measurement instruments. Its overall technical level is leading domestically, having reached international advanced levels in the microwave/millimeter wave measurement instrument sector, and achieving international leadership in certain niche segments. During the reporting period, the composition of the company's main business revenue was as follows. Leading international companies in the electronic measurement instrument industry primarily include Keysight Technologies, Rohde & Schwarz, and Anritsu, which offer relatively comprehensive product categories and superior product performance. In the domestic market, aside from these foreign leaders, SiYi Technology is the domestic enterprise with the strongest comprehensive strength, largest revenue scale, most complete product categories, and widest frequency spectrum coverage. Other major domestic players include Siglent Technologies Co.,Ltd., Dingyang Technology, and Chengdu Ksw Technologies Co.,Ltd.. The global market size for electronic measurement instruments and test & measurement systems in 2024 was 139.12 billion yuan. Keysight Technologies ranked first with revenue of 35.475 billion yuan. The market size in China for the same year was 49.5 billion yuan. Among domestic companies, SiYi Technology held the top market share with revenue of 2.052 billion yuan. Specifically, China's microwave/millimeter wave measurement instrument market size in 2024 was 7.28 billion yuan, with SiYi Technology's related complete machines ranking first among domestic enterprises with revenue of 1.017 billion yuan. Financially, for the years 2023, 2024, and 2025, SiYi Technology reported operating revenues of approximately 2.153 billion yuan, 2.052 billion yuan, and 2.398 billion yuan, respectively. Net profit for the same periods was approximately 190 million yuan, 275 million yuan, and 438 million yuan, respectively.
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