A-share Subscription | TianSu Measurement (301449.SZ) opens for subscription. The main business is professional technical services such as measurement calibration, testing, and certification.

On December 12th, Tiansu Measurement (301449.SZ) started to accept subscriptions, with an issuance price of 36.8 yuan per share, a subscription limit of 40,000 shares, a price-earnings ratio of 21.78 times, and listed on the Shenzhen Stock Exchange, with CMSC as its sponsor. The prospectus shows that Tiansu Measurement was established in 2009 and is a national comprehensive independent third-party measurement testing service organization. Its main business includes measurement calibration, testing, certification, and other professional technical services, spanning various sectors such as biopharmaceuticals, automobiles, new energy, rail transportation, energy and power, light industry, daily chemicals, and equipment manufacturing. The company is committed to providing high-quality and efficient professional technical services to ensure the quality of enterprises and help promote the high-quality development of China's manufacturing industry, in line with the national strategies of building a strong manufacturing and quality nation. As of the end of June 2025, the company has developed and perfected calibration services in ten major measurement calibration fields including geometry, thermal, mechanics, electromagnetics, radio, time and frequency, acoustic, optical, chemical, ionizing radiation, and a total of 1,417 calibration services for specialized measuring instruments, as well as expanding into consumer batteries, power batteries, and energy storage battery testing services. The company has established grid measurement calibration and testing laboratories in various regions such as Guangdong, Guangxi, Yunnan, Hunan, Hubei, Jiangsu, Henan, Shanxi, Shaanxi, and Xinjiang, and received accreditation from the China National Accreditation Service for Conformity Assessment (CNAS) and the China Metrology Accreditation (CMA) for inspection and testing organizations. The company's Hainan Tianzhong Laboratory has obtained legal metrology certification for measurement organizations, and its subsidiary Tiansu International has been approved by the China National Certification and Accreditation Regulatory Commission (CNCA). At the same time, Tiansu Measurement has established 27 key laboratory locations, covering a nationwide "grid" layout in the market areas, enabling rapid response and efficient services, making it one of the few national comprehensive independent third-party measurement testing service organizations in China. The company began laying out battery testing services in 2018, mainly providing battery testing services for consumer batteries, power batteries, and energy storage batteries. The company's testing services have been widely used by new energy battery companies such as CALB, Juwang Technology Research Institute, Eve Energy Co., Ltd., B&H Energy, Hai Cheng Energy, and new energy vehicle companies such as Guangzhou Automobile Group, GAC Aion, Xpeng Motors. After years of development, the company has grown into one of the largest third-party measurement and calibration institutions in China with the widest service area and the most project capabilities. It has set up calibration laboratories in multiple cities in China and equipped them with advanced calibration equipment. In the future, the company will continue to expand its market network in calibration and testing services and deepen its innovation in intelligent measurement and online measurement, while consolidating its position in the calibration and testing industry. Financially, the company's performance has been on an upward trend overall during the reporting period. In the fiscal years 2022, 2023, 2024, and January-June 2025, the company achieved operating revenues of approximately 597 million yuan, 726 million yuan, 800 million yuan, and 409 million yuan respectively; during the same periods, the company recorded net profits of 84.3854 million yuan, 101 million yuan, 111 million yuan, and 55.5762 million yuan respectively.