A-share subscription | High-end scientific instrument developer Guoyi Company (688828.SH) has begun subscription, with expectations to turn a profit in 2026.

On July 31, Guoyi Company (688828.SH) opened for subscriptions, with an issuance price of 21.22 yuan per share and a subscription limit of 6,000 shares. This company is listed on the Shanghai Stock Exchange, with Huatai United Securities serving as its sponsoring institution. According to the prospectus, Guoyi Company focuses on the research and development of high-end scientific instruments, targeting multiple fields such as quantum technology, material science, chemical engineering, biomedicine, and advanced manufacturing. It provides cutting-edge scientific instrumentation, core key components represented by enhanced quantum sensors, and solutions to universities, research institutions, and enterprises worldwide, aimed at facilitating frontier exploration in science and technology. Since its establishment, the company has successively launched a series of products, including electronic paramagnetic resonance spectrometers, scanning NV probe microscopes, field emission scanning electron microscopes, and focused ion beam electron beam dual beam microscopes. At the same time, the company also explores and applies quantum technology, introducing a series of quantum information technology products, such as quantum diamond single-spin spectrometers and wide-field NV microscopes based on NV color center sensors and optical detection magnetic resonance technology, which significantly surpass traditional measurement techniques in sensitivity, precision, resolution, and imaging capability. It is reported that Guoyi Company's products have been delivered to over 80 985/211 universities and more than 150 research institutions. Representative universities and research institutions include Tsinghua University, Peking University, University of Science and Technology of China, Zhejiang University, Shanghai Jiao Tong University, Fudan University, Tongji University, Sun Yat-sen University, Nanjing University, Harbin Institute of Technology, Xi'an Jiaotong University, Cornell University, University of Oxford, Columbia University, National University of Singapore, Nanyang Technological University, University of Melbourne, University of Waterloo, Seoul National University, Chinese Academy of Sciences, China Academy of Engineering Physics, China Institute of Atomic Energy, National Institute of Metrology, Chinese Academy of Agricultural Sciences, among others. Representative corporate clients include BOE Technology Group, BYD Company Limited, Contemporary Amperex Technology, CHERY AUTO, LONGi Green Energy Technology, Chengfei Group, China Southern Airlines, China Shipbuilding Industry Corporation, China National Nuclear Corporation, China Electronics Technology Group Corporation, China National Petroleum Corporation, and China National Offshore Oil Corporation, among industry leaders. According to a report by the research institution SDI, the global market size of the laboratory analytical instrument industry is projected to be $82.95 billion (approximately 588.94 billion yuan) in 2024, and is expected to grow to about $101.58 billion (approximately 721.22 billion yuan) by 2029, with an average annual growth rate of 4.10% over the next five years. The global scientific instrument market is showing a robust growth trend, and its future development is promising. According to SDI data, it is estimated that between 2024 and 2029, the compound annual growth rate of the market share of laboratory analytical instruments in China could reach 4.7%, ranking second among major global economies. By 2029, China's market share for laboratory analytical instruments could reach $11.66 billion (approximately 82.79 billion yuan). With the continuous increase in national research and development funding and heightened attention from enterprises towards R&D activities, the demand for scientific instruments in China is expected to continue growing strongly. In recent years, as China has increasingly valued basic scientific research, the construction of research institutions, universities, and industrial laboratories has been steadily advancing, with a rapid increase in the scale of funding directed at research and experimental fields. Data from the National Bureau of Statistics indicates that in 2020, the total expenditure on research and experimental development in China was 243.93 billion yuan, which is projected to grow to 392.62 billion yuan by 2025, representing a compound annual growth rate of 12.14%. Among this, basic research funding is expected to increase from 150.4 billion yuan in 2020 to over 300 billion yuan by 2025, with a compound annual growth rate exceeding 14.8%, raising its share of total research and experimental development expenditures to 7.08%. The foundational conditions for scientific research continue to improve. As a critical device for obtaining experimental data and analyzing experimental results, the significant and rapidly increasing funding has accelerated the conduct of research activities and promoted the flourishing development of scientific instruments, especially in the market for laboratory analytical instruments. On the financial front, in the fiscal years of 2023, 2024, and 2025, the company is expected to achieve operating revenue of approximately 340 million yuan, 501 million yuan, and 666 million yuan respectively; during the same period, it is expected to record net profits of approximately -146 million yuan, -86.198 million yuan, and -5.8487 million yuan. Based on reasonable expectations regarding future sales volume, selling price, operating costs, and period expenses for its main products, the company anticipates the earliest profitable point to be in the fiscal year of 2026.