Zhongke Innovation's STAR Market IPO "Terminated" - Specializes in the R&D, production, and sales of industrial non-destructive testing equipment.

On October 22, the IPO review status of Wuhan Zhongke Innovation Technology Co., Ltd. (referred to as Zhongke Innovation) on the Shanghai Stock Exchange STAR Market was changed to "Terminated." Because Zhongke Innovation and its sponsor Soochow withdrew the issuance and listing application, in accordance with the relevant provisions of Article 63 of the Shanghai Stock Exchange Stock Issuance and Listing Review Rules, the SSE terminated its issuance and listing review. According to the prospectus, Zhongke Innovation originated from the Institute of Physics and Mathematics of the Chinese Academy of Sciences. It is a national-level specialized, refined, distinctive and innovative key "little giant" enterprise specializing in the R&D, production, and sales of industrial non-destructive testing equipment. After years of R&D innovation and industrial application, the company has developed unique technical accumulation and practical experience in the fields of acoustics and electromagnetics. Its technology matrix covers ultrasonic testing, magnetic flux leakage testing, and other categories. Its main products are automated non-destructive testing systems and non-destructive testing instruments, which are used in China's special steel, petrochemical, non-ferrous metals, energy and power, vehicle equipment, national defense and military industry, aerospace, nuclear industry, and other pillar and strategic fields of the country. It focuses on providing professional non-destructive testing equipment and technical support for key products and components of the aforementioned fields and their upstream and downstream enterprises, so as to improve product quality, reliability, safety of use, and service life, and promote the high-quality development of related industries. It is a leading domestic and internationally advanced manufacturer of industrial non-destructive testing equipment. The company is one of the earliest enterprises in China to provide non-destructive testing equipment on a large scale and has a good market reputation in the industry. It has established stable business relationships with many central state-owned enterprises and large private enterprises. Its downstream customers include special steel customer groups such as Ansteel Group, CITIC Pacific, Baowu Group, Metallurgical Corporation of China, and Zhejiang JIULI Hi-tech Metals; petrochemical customer groups such as PetroChina, China Petroleum & Chemical Corporation, and Nanjing Develop Advanced Manufacturing; non-ferrous metals customer groups such as Baowu Magnesium Technology, Nanping Aluminum, and Innovation New Material Technology; energy and power customer groups such as China Energy Engineering Corporation and State Grid; vehicle equipment customer groups such as CRRC Corporation and Changjiang Bearing; aerospace customer groups such as China Aerospace Hi-Tech Holding Group and COMAC; nuclear industry customer groups such as CNNC and CGN; as well as customer groups such as research institutes, local special inspection institutes, and inspection and testing companies. According to Frost & Sullivan data, the ultrasonic non-destructive testing systems market is relatively concentrated. Foreign enterprises such as Japan's Olympus and America's Westinghouse Brake (collectively referred to as Evident), Canada's Eddyfi, and America's BakerHughes occupied the main market share of China's ultrasonic non-destructive testing systems in 2025. As a leading domestic enterprise, Zhongke Innovation contributed a 6.1% market share, ranking fourth in the domestic market. The vast majority of the domestic ultrasonic non-destructive testing systems market share is occupied by overseas enterprises. The ultrasonic non-destructive testing instruments market is relatively fragmented. Japan's Olympus and America's Westinghouse Brake (collectively referred to as Evident), America's BakerHughes, Canada's Eddyfi, and Zhongke Innovation are the main manufacturers in this field, occupying about 9.6% of China's ultrasonic non-destructive testing instruments market share in 2025. In terms of financials, in 2023, 2024, and 2025, the company achieved operating revenue of approximately RMB 200 million, RMB 294 million, and RMB 378 million, respectively; during the same periods, it recorded net profit of approximately RMB 31.2434 million, RMB 50.6909 million, and RMB 79.2706 million, respectively.