According to Hong Kong Stock Exchange disclosure on September 29, Rigol Technologies Co., Ltd. (Rigol Technologies Co.,Ltd. 688337.SH) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC Securities serving as the sole sponsor.
The prospectus shows that the company is an electronic measurement instrument company with advanced technological capabilities and an extensive global presence. According to Frost & Sullivan data, the company is China's largest electronic measurement instrument supplier and ranks eighth globally by revenue in 2024.
The company designs, develops, manufactures and delivers comprehensive electronic measurement instruments and solutions to facilitate scientific exploration and industry innovation. Through its "RIGOL" brand, the company serves over 100,000 end customers across more than 90 countries and regions, addressing complex testing challenges for clients across various industries in communications, new energy, semiconductors, and education and research sectors.
Through years of focused research and development (R&D) and innovation, the company has established a comprehensive electronic measurement portfolio based on two pillars: (i) a core technology-driven product matrix covering digital oscilloscopes, microwave radio frequency (RF) instruments, direct current (DC) precision instruments, and modular instruments; (ii) multi-scenario solution suites primarily serving high-growth industries including communications, new energy, semiconductors, and education and research.
According to Frost & Sullivan data: By 2024 revenue, the company is China's largest digital oscilloscope supplier, ranking fifth globally; simultaneously, the company is China's largest waveform generator supplier, ranking third globally. The company is also the first and only company in China to successfully commercialize digital oscilloscopes equipped with self-developed application-specific integrated circuits (ASIC).
According to Frost & Sullivan data, the global test and measurement instruments and solutions market reached approximately RMB 110 billion in 2024. Looking ahead, the market is expected to maintain strong growth momentum with a compound annual growth rate of 8.6% from 2025 to 2029, reaching approximately RMB 170 billion by 2029.
The top ten companies in 2024 included seven overseas companies and three Chinese companies, accounting for approximately 80.1% of the electronic measurement instrument market share. By 2024 revenue, the company ranks first among Chinese companies and eighth globally, with a market share of 1.1%.
Financially, for the years 2022, 2023, 2024, and the six months ended June 30, 2024 and 2025, Rigol Technologies Co.,Ltd. achieved revenues of approximately RMB 631 million, RMB 671 million, RMB 776 million, RMB 307 million, and RMB 355 million respectively. During the same periods, annual/period profits were RMB 92.488 million, approximately RMB 108 million, RMB 92.303 million, RMB 15.063 million, and RMB 16.216 million respectively.
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