Tiansu Measurement (301449.SZ), a Third-Party Metrology and Testing Service Provider, Plans IPO on ChiNext Board

Stock News12-03 21:26

Tiansu Measurement (301449.SZ) has released its prospectus for an initial public offering (IPO) on the ChiNext Board. The company plans to issue 16.304348 million new shares, representing 25% of its total post-issue share capital. The price inquiry period will begin on December 9, 2025, with subscription scheduled for December 12, 2025.

The initial strategic placement will comprise 2.445651 million shares, accounting for 15% of the total offering. This allocation includes participation from senior management and core employees through a dedicated asset management plan, along with potential follow-on investment by subsidiaries of the underwriter. The employee participation portion is capped at 10% of the total offering (1.630434 million shares) with a maximum investment of 60 million yuan. Any unallocated strategic placement shares will be reallocated to the offline offering, with final proportions to be determined after pricing on T-2 day.

As a nationwide, comprehensive independent third-party metrology and testing service provider, Tiansu Measurement specializes in calibration, testing, and certification services across multiple industries including biopharmaceuticals, automotive, new energy, rail transit, power generation, consumer goods, and equipment manufacturing. The company supports manufacturing quality enhancement in alignment with China's national strategy for manufacturing and quality excellence.

Financial reports show consistent growth in net profit attributable to shareholders: 84.3854 million yuan, 101.252 million yuan, 111.0568 million yuan, and 55.5762 million yuan across reporting periods. Notably, the company's strategic focus on new energy battery testing has yielded strong results, with revenue growing from 52.5358 million yuan in 2022 to 113.1429 million yuan in 2024 (46.75% CAGR), reaching 64.7374 million yuan in the first half of 2025.

Proceeds from the IPO (totaling 424 million yuan) will fund several projects: upgrading metrology capabilities at Shenzhen headquarters, regional laboratory construction, digital center development, and working capital supplementation.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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