A-share subscription | Tengxin Precision (920298.BJ) opens for subscription, deeply cultivating the high value-added precision components sector.

On September 2, Tengxin Precision (920298.BJ) opened for subscription, with an issue price of 35.78 yuan per share, a subscription limit of 765,000 shares, and a price-earnings ratio of 14.99 times. It is listed on the Beijing Stock Exchange, and Guotai Junan Securities is its sponsor. The prospectus shows that Tengxin Precision focuses on the research and development, design, manufacturing, and sales of high-value-added precision components. The company offers various high-precision and high-value-added precision parts to downstream customers with different materials, shapes, dimensional specifications, functions, and performance requirements, employing high-precision machining technology for complex structures, laser cladding technology, and flexible automation production technology. In terms of business layout, the company is primarily focused on high-end manufacturing fields such as analytical instruments, oil and gas services, medical devices, semiconductors, aerospace transportation, and industrial equipment, providing one-stop customized solutions for top global manufacturers. Through a variety of products, small batch flexible production model, the companys products achieve precise matching in critical functional dimensions such as transmission, connection, sealing, control, support, and protection. After years of development, the companys products have received widespread recognition from downstream customers. In the analytical instruments field, the company has established close business relationships with clients such as A, IDEX, and Illumina, which are global leaders in scientific instruments and related equipment; in the oil and gas service field, the company has formed strategic partnerships with renowned oil and gas service providers such as client C and client B. In the medical device sector, the company has entered the supply chains of globally recognized medical equipment and solutions providers such as BARD, Zimmer Biomet, Philips, and Shenzhen Mindray Bio-Medical Electronics. In the semiconductor field, the companys clients include well-known providers of vacuum measurement and control equipment and related technologies such as Edwards and MKS. In the aerospace transportation sector, the companys clients include internationally renowned aerospace connector, sensor, and control system equipment and engineering technology providers such as Parker Meggitt and Amphenol Aerospace. In the industrial equipment field, the companys clients include global leaders in automation technology and industrial control solutions such as Festo, TE Connectivity, Atlas Copco, Parker Hannifin Corporation, Pfeiffer Vacuum, and ITT. From the sales perspective, the company's client concentration was relatively high during the reporting period, with a significant proportion of foreign sales revenue. The revenue contribution from the top five clients accounted for 73.50%, 72.05%, and 67.13% of total operating revenue, respectively. In financial terms, for the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 711 million yuan, 714 million yuan, and 757 million yuan respectively; during the same periods, net profits were approximately 173 million yuan, 189 million yuan, and 187 million yuan.