Subscription of A-shares | Zhongke Instrument (920186.BJ) starts subscription, focusing on the research and development of clean vacuum and ultra-high vacuum technology.

On April 20th, Zhongkeyi (920186.BJ) opened for subscription, with an issue price of 16.21 yuan per share, a subscription limit of 936,000 shares, a price-earnings ratio of 35.23 times, and it belongs to the Beijing Stock Exchange, with CMSC as its sponsor. The prospectus shows that Zhongkeyi was established in April 2001 and is a leading provider of core components for semiconductor manufacturing equipment and supplier of vacuum science instruments in China. Its main business includes research, development, production, sales, and technical services for dry vacuum pumps and vacuum science instruments, as well as related technologies. The company's products mainly include dry vacuum pumps used in the manufacturing of semiconductor products such as integrated circuit wafers and photovoltaic cells, as well as vacuum science instruments for national major scientific infrastructure and research fields. The company is committed to leading vacuum technology, supporting technological innovation, promoting industry development, and providing support for the development of strategic emerging industries and major technological innovation systems in the country. The company is the largest domestic manufacturer of dry vacuum pumps in the integrated circuit field, the only domestic enterprise to achieve mass application in advanced processes in the integrated circuit industry, and the only domestic enterprise to achieve mass application in clean, intermediate, and stringent processes. This effectively guarantees the independent control and supply chain security of key components of integrated circuit manufacturing equipment in China. As of the date of the signing of the prospectus, the company's shipments of various types of dry vacuum pumps have exceeded 40,000 units, with shipments in the integrated circuit field exceeding 30,000 units. According to market forecast data calculations, by 2024, the company's domestic market share of dry vacuum pumps in the integrated circuit field is approximately 12.72%, breaking the long-term monopoly of European, American, and Japanese companies in the domestic market. Zhongkeyi has independently developed 8 core technologies such as oil-free vacuum acquisition and precision processing technology, dry pump exhaust structure technology, vibration noise suppression technology, and dry pump testing technology, and has successfully commercialized technological achievements. As of December 31, 2025, the company has obtained 103 authorized invention patents, 20 utility model patents, and registered 37 software copyrights. In terms of production mode, the parent company is responsible for the research, development, and production of dry vacuum pumps and vacuum science instruments, while the subsidiary Nantong Zhongkeyi mainly engages in the production, manufacturing, and research of dry vacuum pumps. The subsidiary Shanghai Shangkaiyi mainly engages in technical services such as maintenance and repair of dry vacuum pumps, and the subsidiary Guangzhou Zhongkeyi mainly engages in technical services such as maintenance and repair of dry vacuum pumps and related research and development. The company mainly adopts a production mode based on "sales determine production", meaning that production plans are determined based on customer orders, future market trends, and inventory levels. The funds raised in this issuance, after deducting issuance expenses, will be invested in the following projects: Financially, in the fiscal years 2023, 2024, and 2025, the company achieved operating income of approximately 852 million yuan, 1.082 billion yuan, and 1.291 billion yuan respectively; during the same period, it recorded net profits of approximately 600 million yuan, 1.93 billion yuan, and 844 million yuan respectively.