A-share subscription | Zhongchuang shares (688695.SH) open subscription as one of the earliest middleware manufacturers to enter the field of information technology

On March 4th, Zhongchuang Technology (688695.SH) started its IPO, with an offering price of 22.43 yuan per share and a maximum subscription limit of 55,000 shares. The price-to-earnings ratio is 49.01 times, and it belongs to the Shanghai Stock Exchange Sci-Tech Innovation Board. Kaiyuan Securities and Minsheng Securities are its joint sponsors. According to the prospectus, Zhongchuang Technology is a leading domestic provider of basic software middleware products and services, mainly providing middleware software sales, customized middleware development, and middleware operation and maintenance services to key industries such as party and government, military, finance, energy, and transportation. The company's products mainly include application server middleware, workflow middleware, message middleware, enterprise service bus, and other basic middleware, as well as general middleware such as business information and electronic document exchange systems, Internet of Things supervision platform software, and Paas platform software, which are key infrastructure for the new generation of information technology. Since its establishment in 2002, Zhongchuang Technology has been deeply cultivating the middleware industry for twenty years, committed to promoting the technological innovation, productization, and industrialization of middleware, and has established a trustworthy brand reputation. Middleware, as one of the three major basic software products, plays a fundamental role in application operation support and connectivity in information systems, providing strong support for the rapid deployment and efficient implementation of digital applications in key industries of the national economy. The company's core products have the ability to scale to replace mainstream foreign middleware vendors such as Oracle and IBM, achieving comprehensive compatibility with mainstream domestic chips, operating systems, databases, and other basic software and hardware infrastructure. Based on the company's core technological capabilities in the middleware field, enterprise management capabilities, and market leadership, the company became one of the first middleware vendors to enter the information innovation field for intellectual creation, and was recognized as an "outstanding contributor to the intellectual creation committee" by the Information Technology Application Innovation Committee. The company provides strong support to overcome the dilemma of the bottleneck in domestic middleware and makes significant contributions to the domestic substitution of basic software, leading in the middleware industry domestically. With high-performance and highly reliable middleware products, Zhongchuang Technology's products are widely used in key industries such as party and government, military, energy, finance, and transportation. According to the research report "201-2022 Software Infrastructure (Middleware) Market Development Trends" released by JCSI Information, in 2021, the company's market share in domestic basic middleware was 15%, ranking second among domestic middleware vendors. Financially, in the 2020, 2021, and 2022 fiscal years, the company achieved operating incomes of approximately 81.86 million yuan, 120 million yuan, and 137 million yuan, respectively. The net profits were approximately 42.76 million yuan, 48.39 million yuan, and 43.80 million yuan, respectively.