A-share subscription | Torrens (301583.SZ) opens subscription focusing on the research and development, production, and sales of precision metal components.

On June 29th, Torrance (301583.SZ) initiated its IPO subscription, with an issue price of 22.6 yuan per share, a subscription limit of 9,500 shares, a P/E ratio of 44.82 times, listed on the Shenzhen Stock Exchange ChiNext Board, and CICC as its sponsor. According to its prospectus, Torrance is a leading domestic integrated service provider for the research, development, production, and sales of precision metal components, dedicated to providing high-performance key process components, process components, structural components, gas pipelines, and system assembly products for semiconductor equipment. The company's technological capabilities also cover the field of laser equipment, providing laser cavities and cooling process components products required for high-power laser devices. Torrance focuses on providing precision metal component products for semiconductor equipment and high-power laser devices. Its main products in the semiconductor equipment field include key process components, process components, and structural components, meeting the high standard technical requirements of leading domestic semiconductor equipment companies, and achieving performance requirements for advanced semiconductor equipment. In terms of product types, the company has established a unique competitive advantage with a variety of semiconductor equipment metal component products. In the production of key process components that require high technical and process levels, the company not only mass produces key process components such as cavities, inner liners, heaters, and gas distribution plates, but also successfully produces complex structures of key process components such as cold plates, multi-tube heating reflectors, gas distribution plates, and static charge base plates. Additionally, the company's product applications have expanded horizontally to the field of high-power laser equipment, providing core components such as laser cavities, demonstrating strong technological cross-domain reuse abilities. On the customer side, Torrance provides deep services to local semiconductor equipment manufacturers. Multiple products have entered the supply systems of clients such as NAURA Technology Group and Advanced Micro-Fabrication Equipment Inc. China, and have been applied to etching equipment, thin film deposition equipment, polishing equipment, annealing equipment, and other core equipment, covering logic chip processing equipment, memory chip processing equipment, and advanced packaging, among other areas. Additionally, the company has successfully introduced the supply chain of the internationally renowned laser equipment company, Lumentum, demonstrating the international competitiveness of the company's technology. During the reporting period, as a leading domestic precision metal component provider for semiconductor equipment, Torrance has been awarded national-level honors such as the "National-Level Specialized, Sophisticated, New and Key" "Little Giant", the "National-Level Specialized, Sophisticated, New" "Little Giant", Jiangsu Province's Advanced Intelligent Factory, Jiangsu Province-level Enterprise Technology Center, and Jiangsu Province Specialized, Sophisticated, New Small and Medium-sized Enterprise. Its technical strength has been recognized by leading domestic semiconductor equipment manufacturers, and it is expected to benefit in sync with the continuous development of local semiconductor equipment manufacturers. Financially, in the years 2023, 2024, and 2025, the company is expected to achieve operating revenues of approximately 291 million yuan, 610 million yuan, and 720 million yuan respectively, with net profits of approximately 15.3047 million yuan, 106 million yuan, and 98.1756 million yuan during the same period.