en.Wedoany.com Reported - On June 29, 2026, the Shanghai Stock Exchange accepted the IPO application materials for the STAR Market listing of Nanjing Wotian Technology Co., Ltd. (referred to as: Wotian Technology). This national-level specialized and new "Little Giant" enterprise plans to raise 760 million yuan for three major fields: industrial control, aerospace, and automotive electronics, aiming to promote the self-controllable sensor industry chain.
Founded in 2005, Wotian Technology was restructured into a joint-stock company in 2020. The actual controllers Zhao Jianli, Gao Feng, Wu Hualin, and Wang Xu collectively hold 88.43% of voting rights through a concerted action agreement. The company is the only MEMS pressure sensor demonstration enterprise in the Ministry of Industry and Information Technology's sensor "one-stop" project, and is one of the few Chinese manufacturers capable of independent R&D and large-scale production across the entire process of MEMS pressure chips, pressure cores, and transmitters, breaking the technological monopoly of overseas giants in this field.
The Chinese MEMS pressure sensor market has long been dominated by foreign companies such as Bosch, STMicroelectronics, Infineon, and Amphenol, with a significant gap for domestic substitution in high-end industrial control and aerospace sectors. After 20 years of technical accumulation, Wotian Technology has mastered nine core processes, including PN junction, SOI self-developed chips, laser sealing, radiation resistance, and automotive-grade glass micro-melting. It holds 26 invention patents and 33 software copyrights, and has led or participated in the formulation of five national sensor standards. Its products are benchmarked against international first-tier brands in terms of accuracy, temperature drift, and long-term reliability.
According to certification documents from the China Instrument and Control Society, the company's silicon piezoresistive MEMS pressure sensor production and sales volume ranked first in the domestic market share in the industrial control field over the past three years. Data from CCID Consulting shows that in 2025, the company achieved a 5.00% market share in China's MEMS pressure sensor industrial control field, making it the only Chinese company among the top ten manufacturers and ranking first among Chinese enterprises.
The company adopts a direct sales-oriented model, with customers including industry leaders such as AVIC, Zhejiang SUPCON Technology, and Hikvision, and exports account for over 20% of revenue. Its business is divided into three segments: industrial control as the revenue base, aerospace products with high gross profit advantages, and automotive electronics as the key second growth curve. In 2025, the company's pressure core production capacity reached 4.12 million units, with a capacity utilization rate of 95.41%, and automated production lines ensured stable delivery.
According to the prospectus, from 2023 to 2025, the company's revenue grew steadily, reaching 253 million yuan, 270 million yuan, and 328 million yuan respectively. However, net profit attributable to the parent company declined year by year, from 47.38 million yuan to 39.31 million yuan, and then to 36.5 million yuan. The profit pressure mainly stemmed from rising overseas chip procurement costs, sustained losses from automotive-grade business investments, share-based payment expenses, and product price reductions due to industry competition, causing the comprehensive gross profit margin to drop from 43.81% to 37.41%. The overall financial position remains stable, with a debt-to-asset ratio of only 30.51% at the end of 2025, and net operating cash flow of 31.96 million yuan for the year, with continuous cash flow recovery.
The company's technological innovation attributes are the core support for its STAR Market listing. Over the past three years, cumulative R&D investment reached 63.43 million yuan, accounting for 7.46% of revenue, with 78 R&D personnel, representing 12.09% of total employees. Currently, the company's core chips still heavily rely on overseas procurement, posing supply chain risks. The funds raised will be primarily invested in chip self-development projects to reduce external dependence.
For this IPO, the company plans to issue no more than 10.4167 million new shares, raising 760 million yuan, all of which will be used for four major projects in its main business: 230 million yuan for expanding industrial control sensor production to consolidate the base; 130 million yuan for aerospace sensor industrialization to capture high-end, high-margin markets; 300 million yuan for building an automotive electronics production base in Anhui to target the incremental new energy vehicle market; and 100 million yuan for establishing a comprehensive R&D center to tackle key technologies such as chips and high-temperature resistant materials. After project completion, the company's production capacity will be significantly expanded, perfecting the three-dimensional growth curve of "industrial control, aerospace, and automotive."
The prospectus also highlights several operational risks: intensified industry competition compressing profit margins; core chip reliance on overseas suppliers, vulnerable to geopolitical and capacity fluctuations; long certification cycles for automotive-grade products, with short-term sustained losses dragging performance; as well as risks such as inventory impairment, concentrated equity of actual controllers, and lower-than-expected capacity digestion from fundraising projects.
Wotian Technology stated that in the future, it will enhance capital strength, optimize corporate governance, improve talent incentives, and elevate management levels and comprehensive competitiveness through the listing. It will continue to increase R&D investment, strengthen the full-stack technical system of "chip-core-transmitter," and consolidate its leading position in China's industrial-grade MEMS pressure sensor field. It will accelerate the development of new products such as automotive-grade sensors, aerospace-grade sensors, and six-dimensional force sensors, expanding application scenarios in new energy vehicles, commercial aerospace, high-end equipment, and embodied intelligent robots to create new growth engines. It will serve the national overall strategic goals, supporting domestic substitution, self-controllability, and supply chain security in key sensor fields. It will continue to base itself in China while facing the global market, enhancing brand influence and market share to become an internationally renowned MEMS pressure sensor supplier.
