Saimet targets Hong Kong stocks: annual revenue of 700 million, just completed 800 million funding round, valuation of 7.3 billion

Ask AI · What are the deeper reasons behind the valuation volatility of Semete?

Lei Dijiang, Lei Jianping, March 31

Semete Information Group Co., Ltd. (hereinafter referred to as “Semete”) has recently updated its prospectus and is preparing to list on the Hong Kong Stock Exchange.

Since its establishment, Semete has obtained multiple rounds of financing. Among them, in April 2023 it completed RMB 233 million in financing, with post-money valuation of RMB 8B; in December 2023 it completed RMB 150 million in financing, with post-money valuation of RMB 6.23B.

In November 2025, Semete completed its Series D financing of RMB 410 million, with post-money valuation of RMB 5.61 billion; in early December 2025, it completed Series D+ financing of RMB 100 million, with post-money valuation of RMB 5.71 billion; in December 2025, it completed financing of RMB 295 million, with post-money valuation of RMB 7.3 billion.

By the end of 2025, Semete completed a total of RMB 800 million in financing. New shareholders include the National Integrated Circuit Industry Investment Fund Phase III, the Shanghai Integrated Circuit Industry Investment Fund Phase III, and others.

Semete’s revenue in 2025 was RMB 731 million, a year-on-year increase of 46.4%; adjusted net profit was RMB 97.26 million.

Performance data of Garyli

Semete’s main competitors in the industry are Garyli. Garyli has just submitted its prospectus recently. The prospectus shows that Garyli’s revenue in 2025 will be RMB 300 million, with a loss within the year of RMB 100 million.

Annual revenue of RMB 730 million; profit of RMB 72.77 million

Semete is a provider of intelligent industrial software solutions. Through a development blueprint of “one horizontal, one vertical, one diagonal,” it improves a complete capability framework from bottom-layer architecture design to top-layer application deployment.

Semete mainly provides intelligent manufacturing software solutions and business management software solutions to customers in industries such as semiconductors, power, electronics, automobiles, panels, photovoltaics, chemical engineering, new energy batteries, high-end equipment, metal products, and biopharmaceuticals.

The prospectus shows that Semete’s revenue in 2023, 2024, and 2025 was RMB 287 million, RMB 500 million, and RMB 731 million, respectively; gross profit was RMB 126 million, RMB 198 million, and RMB 260 million, respectively; gross margin was 44%, 39.6%, and 35.6%, respectively.

Semete’s performance data

Semete’s 2025 intelligent manufacturing software solution revenue was RMB 437 million, accounting for 59.7%; business management software solution revenue was RMB 294 million, accounting for 40.3%.

Semete’s profit within the year in 2023, 2024, and 2025 was RMB 24.57 million, RMB 73.83 million, and RMB 72.77 million, respectively; the profit margin within the year was 8.6%, 14.8%, and 10%, respectively.

Semete’s adjusted net profit in 2023, 2024, and 2025 was RMB 26.02 million, RMB 78.73 million, and RMB 97.26 million, respectively.

As of December 31, 2025, Semete’s cash and cash equivalents were RMB 408 million.

Li Gangjiang controls 56% of the equity

Semete’s executive directors are Li Gangjiang, Ms. Zhang Ying, Li Guangzhu, and Ms. Zhang Xin; its non-executive directors are Liu Hongnan and Yu Hui; its independent non-executive directors are Pang Fengzheng, PhD Ye Hangjun, and Ms. Zhang Zhidi. Li Gangjiang and Ms. Ni Qiong are a married couple.

Before the IPO, Jiashi Lianchuang Investment held 18.51%, Shanghai Semete Phase Two held 9.22%, Shanghai Semete Phase One held 8.45%, Guotou Jichuang Fund held 6.89%, Shanghai Semete Phase Three held 6.53%, MPC VII held 4.48%, Hubble Investment held 4.34%, and Shanghai Semete Phase Five held 3.55%.

CITIC held 2.98%, Yangzhou Juzhi held 2.89%, Shanghai Semete Phase Four held 2.75%, BYD held 2.41%, Hongtu Shanyi held 2.22%, Houxue Sai held 2.16%, Hainan Qiansai held 1.97%, Integrated Circuit Phase Three held 1.68%, Wei Haoyunxuan held 1.49%, Baise Fund held 1.45%, Tianshan Zhixing held 1.19%, and G60 Sci-Tech Innovation Fund held 0.93%;

Anhui Jun’an held 0.78%. Shanghai Sci-Tech Innovation Fund and Yangtze River Delta Fund held 0.75% each; Chanfa Kexin held 0.68%, Liono Micro held 0.59%, Dingxin Huaxi held 0.56%, and Ceyuan Guangyi and Ceyuan Fengfan held 0.54% each;

Shenzhen Hexing held 0.48%, Anhui Haiteng held 0.46%, Huaxi Jinzhi held 0.45%, Yangguang Renfa held 0.43%, Xingsheng Dongyan and Yongxin Rongyan held 0.41% each; Shanghai Chenjun and Beijing Yurun held 0.37% each; Camel Fund, Yuntai Capital, Shenhong Zhizao, and Xinhui Lanjin Fund held 0.27% each;

Hainan Semete Phase One and Hainan Semete Phase Two held 0.26% each; Zhiheng Shuzhi and Yinshizhi Zao held 0.22% each; Shanghai Xunshi held 0.15%; Hubei Jiangcheng Optics Valley held 0.14%; Hainan Semete Phase Five held 0.12%; Jiaxing Xunying held 0.11%; Hainan Semete Phase Four held 0.06%; Chuangqi Kaiying and Jinzhi Yuesi held 0.02% each.

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