Shenzhen Weidu Technology Files ChiNext IPO, Seeks 1.39 Billion Yuan

Shenzhen Weidu Technology Co., a maker of optical communications testing equipment, has filed a draft prospectus for a ChiNext IPO and plans to raise 1.39 billion yuan, according to Jiemian News. The company reported revenue rising from 78 million yuan in 2023 to 312 million yuan in 2025, and said its 2023-2025 revenue CAGR was 99.49%; net profit increased from 11.1296 million yuan to 97.3483 million yuan in 2025. The prospectus shows the company paid a cash dividend of 11 million yuan in 2025 after no cash dividends in 2023-2024; controlling shareholder Zhou Qi controls 85.14% of the company and would receive about 9.3654 million yuan based on that stake. Jiemian News also reported that three months before the filing, Zhou transferred 0.85% of his shares to Sap Investment for 17 million yuan, at a valuation consistent with a post-money valuation of 2 billion yuan following Shenzhen Capital Group’s entry in December 2025. Weidu’s accounts receivable rose from 37.1202 million yuan in 2023 to 122 million yuan in 2025, up 228% over three years; in 2025, accounts receivable grew 115.7% year on year versus revenue growth of 100.57%, and receivables were 39.20% of revenue at year-end. Inventory book value increased from 19.5164 million yuan to 74.6844 million yuan over 2023-2025, and the production-to-sales ratio for its optical communications test instruments was 97.94% in 2023, 88.05% in 2024 and 89.22% in 2025, the report said.