Hyatech Successfully Lists on STAR Market, Aiming to Become a Leading Domestic Manufacturer of Aero Engine and Orthopedic Implant Components

Source: Securities Daily

By our reporter, Li Yanan

December 16, WuxiHyatechHyatech Co., Ltd. (hereinafter referred to as “Hyatech”, stock code “688510”) successfully listed on the STAR Market, with the sponsor institutionHuatai SecuritiesAs of the market close on that day, Hyatech closed at RMB 37.18 per share.

Integrate into the Supply Chain Systems of Internationally Renowned Clients

According to available information, Hyatech is a professional manufacturer of high-performance components for the aerospace engine and medical orthopedics sectors, specializing in the research, development, production, and sales of critical aerospace engine parts and forged orthopedic implants. Through continuous enhancement of its R&D capabilities and self-driven technological iteration, Hyatech has established a robust technical reserve in high-performance manufacturing.

In the field of aero-engines, Hyatech supplies compressor blades in large volumes to major international aero-engine manufacturers. It has been deeply integrated into the supply chains of globally renowned engine makers such as Safran and GE Aviation, successfully achieving high-volume deliveries to leading global aero-engine enterprises including Safran Group, GE Aviation, and Aero Engine Corporation of China (AECC). Its technological capabilities and product standards have been certified by major global engine manufacturers.

Since its establishment, Hyatech has successively undertaken numerous major national, provincial, and municipal research and development tasks focused on the manufacturing of key components for aero-engines. These projects include research and application of precision forging technologies for titanium alloy and superalloy compressor blades, advanced machining technologies for turbine disks, and the research, development, and industrialization of blisks (bladed disks). Among these, a research project commissioned by a certain government department aligns with the basic research initiatives under the “Large Aircraft” program, a National Major Science and Technology Special Project.

In addition, in the field of medical orthopedic implant devices, Hyatech isJohnson & JohnsonA key qualified supplier in the Asia-Pacific region, the company is also an approved vendor for renowned medical device manufacturers such as Smith & Nephew, Chunli Zhengda, and Weigao Orthopaedics. It has earned extensive recognition from major industry clients for its reliable product quality, manufacturing processes, on-time delivery, and responsive service, fostering strong customer stickiness and collaborative partnerships that constitute a core competitive advantage.

Raising RMB 672 Million to Expand Production Capacity

From 2017 to the first half of 2020, Hyatech’s profitability steadily improved, with operating revenues of RMB 97.5532 million, RMB 161 million, RMB 258 million, and RMB 155 million, respectively. The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was RMB -9.094 million, RMB 9.1549 million, RMB 39.5676 million, and RMB 29.0342 million, respectively.

Hyatech’s listing on the STAR Market raised RMB 672 million. The funds will be used to expand production capacity. If the projects are successfully implemented, they will help the company build a new industrial platform, drive and facilitate product upgrades and iterations, broaden the high-end product portfolio, and enhance product coverage and market reach.

The reporter noted that Hyatech’s R&D expense ratios from 2017 to 2019 reached 14.91%, 13.89%, and 11.93%, respectively. In terms of R&D, Hyatech has made in-depth advancements in precision forging near-net-shape forming technology, breaking through key technologies such as deformation control, leading and trailing edge dimensional control, microstructural property control, and surface integrity control for precision-forged compressor blades of aero-engines. Furthermore, Hyatech has mastered multiple core technologies, including reverse mold design and manufacturing, adaptive polishing and repair of blade leading and trailing edges, combined machining technology for compressor hubs and drums, rapid measurement of complex surfaces, double-sided shot peening strengthening technology for integral blisk airfoils, and precision machining technology for fir-tree slots.

Hyatech stated that, building on its existing R&D capabilities and aiming at the construction of its R&D center project, it will continue to strengthen its R&D strength, achieve product upgrades and broaden its product chain through product innovation, thereby consolidating and further enhancing its leading position in China in the fields of aero-engine components and medical orthopedic implant forgings.

(Editor: Sun Qian)