New Stock News | Cimetech submits second listing application to the Hong Kong Stock Exchange, with a focus on providing intelligent industrial software solutions.

According to the disclosure on March 31 by the Hong Kong Stock Exchange, Cimet Information Group Co., Ltd. (referred to as "Cimet") has submitted its listing application to the Main Board of the Hong Kong Stock Exchange, with Guotai Haitong as its exclusive sponsor. This is the second time the company has submitted an application to the Hong Kong Stock Exchange, after previously submitting an application on September 19, 2025. Company Profile The prospectus shows that Cimet is a leading provider of intelligent industrial software solutions in China. According to a report by Zhishi Consulting, based on the industrial software revenue from advanced industries in 2024, the company is the largest Chinese provider in the Chinese advanced industrial intelligent manufacturing software market, with a market share of 1.5%. It holds about 10% of the Chinese industrial software market. In 2024, based on industrial software revenue, the company is also the largest Chinese intelligent manufacturing software company in the semiconductor industry, ranking first among Chinese enterprises, and one of the few Chinese domestic advanced industrial intelligent manufacturing software companies that have achieved profitability. The company is the first and only domestic supplier of fully automated computer-integrated manufacturing ("CIM") solutions to have been validated and put into mass production by multiple 12-inch wafer fabs. As of December 31, 2025, the company has 843 customers, covering six of the top eight wafer fabs in the country, the top three semiconductor silicon wafer fabs, and the top three packaging and testing factories. Since its establishment, the company has gradually built a comprehensive capability framework across vertical, horizontal, and oblique directions. Vertically, the company continues to expand its product categories, providing diversified intelligent manufacturing solutions, including MES (Manufacturing Execution System), EAP (Equipment Automation Program), YMS (Yield Management System), SPC (Statistical Process Control), RTD (Real-time Dispatch System), APS (Advanced Planning and Scheduling), MCS (Material Control System), and MessageBus (Message Middleware). Horizontally, the company focuses on the core vertical field of the semiconductor industry, covering the entire manufacturing process from semiconductor material manufacturing, front-end wafer manufacturing to back-end packaging and testing, and other related high-end manufacturing processes. The company also extends its expertise to other vertical industries, such as power, electronics, automotive, panel, photovoltaic, chemical, new energy batteries, high-end equipment, metal products, and biomedicine industries. In an oblique direction, from R&D to production process automation to business management, the company spans various aspects from the factory floor to the enterprise management level. During the reporting period, most of the company's customers were located in mainland China, with revenue from the top five customers accounting for 36.2%, 28.6%, and 27.6% of the company's total revenue in 2023, 2024, and 2025, respectively. Most of the company's major suppliers are from mainland China, with other major suppliers from Japan, South Korea, and the UK. During the reporting period, purchases from the top five suppliers accounted for 82.1%, 52.1%, and 49.1% of the company's total purchases in 2023, 2024, and 2025, respectively. Financial Information Revenue In the fiscal years 2023, 2024, and 2025, the company achieved revenue of approximately RMB 287 million, RMB 500 million, and RMB 731 million, respectively. Profit In the fiscal years 2023, 2024, and 2025, the company reported annual profits of RMB 24.56 million, RMB 73.83 million, and RMB 72.76 million, respectively. Gross Profit Margin In the fiscal years 2023, 2024, and 2025, the company's gross profit margins were 44%, 39.6%, and 35.6%, respectively. Industry Overview Industrial software is software that addresses various scenario needs in the industrial field. Industrial software can be divided into three main categories according to application scenarios: intelligent manufacturing software, business management software, and R&D design software. According to data from Zhishi Consulting, the size of the Chinese industrial software market (measured by the total revenue of traditional and advanced industrial software) increased from RMB 197.4 billion in 2020 to RMB 294 billion in 2024, with a compound annual growth rate of 10.5%, and is expected to reach RMB 467 billion by 2029, with a compound annual growth rate of 9.7%. The Chinese industrial software market is highly fragmented, with the top five participants holding approximately 10% of the total market, all of whom are mature global industrial software giants. The market for Chinese advanced industrial software is also relatively fragmented, with the top five participants holding approximately 18% of the market. Intelligent manufacturing software focuses on the automation and intelligence of production processes, responsible for the control and monitoring of production processes, primarily including CIM, SCADA, DCS, PLC, etc. Intelligent manufacturing software plays the role of the "brain" in industrial production, directly determining product quality and production efficiency. According to data from Zhishi Consulting, the market size of Chinese advanced industrial intelligent manufacturing software companies (measured by the revenue of intelligent manufacturing software companies in advanced industries) increased from RMB 17.1 billion in 2020 to RMB 31 billion in 2024, with a compound annual growth rate of 16.1%, and is expected to reach RMB 62.5 billion by 2029, with a compound annual growth rate of 15.0%. In 2024, the market share of Chinese advanced industrial intelligent manufacturing software companies accounted for approximately 30% of the Chinese advanced industrial software market by revenue. The market for Chinese advanced industrial intelligent manufacturing software companies is relatively fragmented, with the top ten participants in the total revenue of advanced industrial software accounting for a total market share of 32.6% in 2024. This is mainly due to the fact that advanced industries include many vertical industries, with a large number of customers and dispersed regions, resulting in different demands. The ranking of Chinese advanced industrial intelligent manufacturing software companies in the market is shown in the table below. Based on revenue from advanced industrial software in 2024, the company is the top-ranked Chinese company in the Chinese advanced industrial intelligent manufacturing software market, and based on the compound annual growth rate of related revenue from 2022 to 2024, the company is the fastest-growing among the top ten participants from 2022 to 2024. Board of Directors Information The board of directors of the company consists of 9 directors, including 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors. The term of office for directors is 3 years, and they are eligible for re-election after the expiration of their term. Equity Structure As of March 23, 2026, Jia Shi Lian Chuang Tou controls approximately 46.25% of the issued share capital and has 46.73% of the voting rights in the company, while Shen Zhen He Xing has approximately 0.48% of the issued share capital. Therefore, Jia Shi Lian Chuang Tou and Shen Zhen He Xing collectively hold approximately 46.73% of the voting rights in the company, with the right to exercise control. Mr. Li Gangjiang and Ms. Ni Qiong have the right to control approximately 48.63% of the voting rights in the company through the management shareholder. Mr. Li Gangjiang (as the holder of 98% of the partnership interests) and Ms. Ni Qiong (as the holder of 2% of the partnership interests) ultimately control Shanghai Jia Rui Jiani. Jia Jia Holdings is owned by Mr. Ni Qiong, holding 2%, and Shanghai Jia Rui Jiani, holding 98%. Jia Shi Lian Private Equity is wholly owned by Jia Jia Holdings. Therefore, Mr. Li Gangjiang, Ms. Ni Qiong, Shanghai Jia Rui Jiani, and Jia Jia Holdings are each considered to have interests in 206,855,917 unlisted shares, and Jia Shi Lian Private Equity is considered to have interests in the internal shares. Jia Shi Lian Private Equity is the general partner of Jia Shi Lian Chuang Tou, Hainan Sai Meite No. 2, Hainan Sai Meite No. 4, Hainan Sai Meite No. 5, and Bissai Fund. Therefore, Jia Shi Lian Private Equity is considered to have interests in 119,200,659 unlisted shares, with Jia Shi Lian Chuang Tou being considered as having interests in the unlisted shares; and by Jia Shi Lian Chuang Tou, Hainan Sai Meite No. 2, Hainan Sai Meite No. 4, Hainan Sai Meite No. 5, and Bissai Fund respectively holding 79,521,412 unlisted shares, 1,124,027 unlisted shares, 236,558 unlisted shares, 523,261 unlisted shares, and 6,250,000 unlisted shares. Jia Shi Lian Chuang Tou is the general partner of Shanghai Sai Meite No. 2, Shanghai Sai Meite No. 1, Shanghai Sai Meite No. 3, and Shanghai Sai Meite No. 5. Therefore, Jia Shi Lian Chuang Tou is considered to have interests in 39,594,473 unlisted shares, 36,297,646 unlisted shares, 28,039,018 unlisted shares, and 15,269,522 unlisted shares, respectively. Intermediary Team Exclusive Sponsor: Haitong INT'L Capital Limited Company's Legal Advisor: Baker McKenzie for Hong Kong and US law; Shanghai Li Feng Law Firm for Chinese law Legal Advisor for the Exclusive Sponsor: Gallant for Hong Kong and US law; Jupiter Public Faith Law Firm for Chinese law Reporting Accountant and Independent Auditor: Ernst & Young LLP Industry Consultant: Zhishi Enterprise Management Consulting (Shanghai) Co., Ltd. Compliance Advisor: SOMERLEY CAP Limited