Jiangsu Gao Kai Precision Fluid Technology Co.,Ltd. (stock code: 688835) commenced its IPO subscription on the Shanghai Stock Exchange on August 14, with an offering price of 61.36 yuan per share. The subscription cap is set at 5,500 shares, and the price-to-earnings ratio stands at 48.33 times. Guotai Junan Securities is serving as the lead underwriter for the offering.
According to the prospectus, the company specializes in the research, development, production, and sales of key control components and related equipment within the precision fluid control sector. Its core product lines include flow control series, dispensing and encapsulation series, and precision coating series, which extend to semiconductor vacuum system components and other precision fluid control parts. These products are widely used in smart manufacturing fields such as semiconductors, consumer electronics, automotive electronics, and new energy.
The company's main products have successfully passed verification by well-known domestic manufacturers and are now in stable mass production. Some products can be applied in advanced process equipment for logic chips at 7nm and below. In recent years, China's precision fluid control components and equipment market has been expanding, becoming an essential foundation for high-end manufacturing industries like semiconductors, photovoltaics, lithium batteries, and consumer electronics.
Key products, such as the flow control series, dispensing and encapsulation series, and precision coating series, are used in precision fluid control scenarios including wafer fabrication, dispensing encapsulation, power battery bonding, and photovoltaic frame coating. According to QY Research statistics, the market size for precision fluid control components and equipment in China reached 32.444 billion yuan in 2024, with a compound annual growth rate of 9.39% from 2016 to 2024. It is projected to grow to 53.032 billion yuan by 2030, with a CAGR of 8.53%.
Additionally, the market for piezoelectric-driven dispensing components and equipment in China totaled 2.262 billion yuan in 2024, growing at a CAGR of 7.32% from 2016 to 2024. This market is expected to reach 3.848 billion yuan by 2030, with a CAGR of 9.26%, indicating a rapid development trend.
Financially, the company reported revenue of approximately 226 million yuan, 423 million yuan, and 511 million yuan for fiscal years 2023, 2024, and 2025, respectively. During the same periods, net profits were approximately 26.4915 million yuan, 99.7604 million yuan, and 131 million yuan.