Centre Testing International Group Co., Ltd. (SZSE: 300012)

Quick Facts / Company Snapshot

• Company Name: Centre Testing International Group Co., Ltd.
• Stock Code: 300012
• Stock Exchange: Shenzhen Stock Exchange
• Legal Representative: Wan Feng
• Registered Address: Room 101, Building 1, CTI Building, Xingdong Community, Xin’an Street, Bao’an District, Shenzhen
• Postal Code: 518101
• Total Operating Revenue (2024): CNY 6,084,016,542.19
• Net Profit Attributable to Shareholders (2024): CNY 921,073,108.56
• Total Assets: CNY 9,452,604,079.86
• Total Employees: 13,512
• R&D Professionals: 2,163
• R&D Investment (2024): CNY 529,292,294.38
• Number of Laboratories: Over 160
• Service Networks: Over 260
• Global Presence: Over 90 cities across 10 countries
• Annual Reports Issued: Over 4 million
• Certificates Issued Annually: Nearly 1.5 million
• Global Clients Served: Over 100,000
• Comprehensive Gross Profit Margin (2024): 49.47%
• Basic Earnings Per Share (2024): CNY 0.5500

Company Overview

Centre Testing International Group Co., Ltd. operates as a highly integrated, comprehensive third-party organization providing essential testing, calibration, inspection, certification, and technical services. The entity is deeply embedded in delivering highly reliable one-stop solutions to clients worldwide, actively driving advancement in the quality inspection technical service industry. As a strictly independent and fair non-governmental testing institution, its operations remain completely independent of the interests and legal identities of the parties involved in trade, transactions, sales, cooperation, and disputes.

The operational mission is firmly rooted in “building trust and ensuring quality of life for all,” comprehensively acting to safeguard quality and safety. The organizational vision focuses heavily on the concept that the brand is “always by your side”. It upholds operational core values strictly centered on “Integrity, Collaboration, Expertise, Innovation, and Client First”.

• Values framework: Integrity is positioned at the very top of the operational values, with independence, fairness, and honesty acting as non-negotiable, essential business requirements.
• Operational scale: The infrastructure encompasses over 160 laboratories and more than 260 service networks distributed strategically across over 90 cities in 10 countries and regions.
• Service volume: Annually, the technical output exceeds 4 million inspection and certification reports alongside nearly 1.5 million certificates, effectively supporting over 100,000 global clients.

The enterprise has engineered a highly robust laboratory management system fully compliant with ISO/IEC 17025 and an inspection body management system compliant with ISO/IEC 17020. It is heavily accredited by the China National Accreditation Service for Conformity Assessment (CNAS) and rigorously qualified by China Metrology Accreditation (CMA).

Business Segments

The business operations are architecturally structured into five major revenue-generating segments.

• Life sciences: Generated CNY 2,840,674,286.25, representing 46.69% of total revenue.
• Industrial testing: Generated CNY 1,204,062,501.84, representing 19.79% of total revenue.
• Consumer goods testing: Generated CNY 988,004,869.88, representing 16.24% of total revenue.
• Trade assurance: Generated CNY 763,928,702.56, representing 12.56% of total revenue.
• Pharma and clinical services: Generated CNY 287,346,181.66, representing 4.72% of total revenue.

Life Sciences

This cornerstone segment generated CNY 2,840,674,286.25, commanding 46.69% of the total revenue, while maintaining a strong gross profit margin of 50.42%. It achieved a powerful year-on-year revenue growth of 13.75%. The operational scope heavily addresses environmental testing, food and agricultural product testing, and critical health services. The environmental testing field actively benefits from the implementation of the Third National Soil Survey and massive marine environmental monitoring directives. The food safety and agricultural testing operations provide absolute full-chain service coverage, pushing aggressively into high-margin specialized areas like pet food and product testing.

Industrial Testing

This vital segment generated CNY 1,204,062,501.84, accounting for 19.79% of the total revenue, paired with a gross profit margin of 45.25%. It achieved a sustained year-on-year revenue growth of 10.32%. The operational scope is predominantly driven by massive digitization, industrial intelligence, and sustainability strategies. It encompasses physical construction engineering, building information modeling (BIM), advanced metrology, maritime field services, and modern digital field services such as cybersecurity and fintech product testing algorithms.

Consumer Goods Testing

This segment generated CNY 988,004,869.88, accounting for 16.24% of the total revenue, returning a solid gross profit margin of 43.53%. It achieved a highly stabilized year-on-year revenue growth of 0.88%. The operational scope directly impacts light industrial products, toys, textiles, and domestic consumer safety. The segment continuously secures high-level new accreditations, such as CPSC accreditation for children’s toys exported to the U.S., and actively undertakes massive national supervision and sampling inspection technical service projects.

Trade Assurance

This specialized segment generated CNY 763,928,702.56, accounting for 12.56% of the total revenue, notably boasting the highest gross profit margin of any segment at 71.21%. It achieved an excellent year-on-year revenue growth of 9.19%. The operational scope is deeply embedded in advanced electronic materials chemistry and failure reliability, decisively capturing opportunities in green environmental protection, semiconductors, new energy, and electric vehicle architectures. Technical services cover hazardous substances, deep material analysis, and critical food contact material evaluations.

Pharma and Clinical Services

This highly technical segment generated CNY 287,346,181.66, accounting for 4.72% of the total revenue, facing a compressed gross profit margin of 20.43%. It experienced a year-on-year revenue decline of 14.71% largely due to heavy cyclical external factors within the medical field. The operational scope manages CRO activities, medical testing, pharmaceutical development platforms, precision medicine, medical device validation, and health management services. It engineers end-to-end drug development services, pushing from early preclinical CMC research directly to clinical bio-sample analysis.

History and Evolution

The structural foundation of the enterprise began with a profound vision in the testing industry over two decades ago. Key developmental milestones include the intensive preparation phase in 2003, heavily guided by natural persons Wan Lipeng and Zhang, culminating in the formal establishment of the original Shenzhen Centre Testing International Testing Technology Co., Ltd.. Executive leadership stabilized early, with the current Chairman assuming the primary role in August 2007, guiding the trajectory through IPO mechanisms. The enterprise fundamentally evolved from a purely domestic private testing organization into a highly aggressive, internationalized technical service network through strategic execution and deployment.

• 2020: Decisively entered the marine fuel testing market through the strategic acquisition of Singapore-based MARITEC.
• 2022: Completed the critical 100 percent acquisition of VESP, significantly expanding its footprint and capabilities within chip semiconductor testing.
• 2023: Executed the acquisition of Guangdong Neway Quality Technology Service Co., Ltd. to violently accelerate expansion in global medical device testing.
• 2023: Aggressively entered the modern cybersecurity classified protection assessment market via the acquisition of CTI Fengxue.
• 2024: Finalized the 100 percent acquisition of Greece-based NAIAS SCIENTIFIC ANALYTICAL LABORATORIES SOCIETE ANONYME, deeply strengthening the global maritime green energy network.
• 2024: Acquired 100 percent of Hong Kong Greater Asia Pacific Limited, gaining indirect control of a 51 percent stake in Microtek (Changzhou) Product Services Co., Ltd. for dominance in electronic materials and PCB testing.
• 2024: Acquired a 70 percent equity stake in Jiangsu Honghai Vehicle Testing Co., Ltd., physically expanding into the lucrative e-bicycle testing market.

Products and Services

The highly technical product and service portfolio is extraordinarily extensive, blanketing critical global industries alongside their upstream and downstream supply chains. Revenue values are structurally intertwined with the aforementioned corporate business segments.

Food, Agricultural, and Health Products Services

This technical service line engineers comprehensive technical support strictly for government supervision and massive food supply chain enterprises. It meticulously covers planting and breeding, primary production, processing and packaging, storage and transportation, distribution, and commercial retail. The service natively includes rapid testing, complex animal nutrition, and powerful one-stop quality management solutions.

Environmental Testing Services

Operating natively as a pioneering private third-party environmental testing institution, it covers massive ecological environment testing, automatic environmental monitoring, marine environments, and occupational hygiene. The specialized service line executes the vast Third National Soil Survey and develops highly complex new services for emerging contaminants assessment and site remediation planning.

Construction Engineering and Industrial Services

This line builds one-stop infrastructural solutions including laboratory testing, non-destructive testing, product certification, deep consulting, and full project management. It targets complex civil and public buildings, municipal engineering, rail transit systems, fire and flame retardant materials, and large-scale industrial projects.

Metrology and Digitization Services

Services encompass ultra-precise metrology and calibration, reference substance testing, luxury goods identification, and laboratory design. The metrology product line proudly holds over 6,400 recognized capabilities across fields like geometry, thermodynamics, mechanics, and ionizing radiation. Digitization services secure electronic authentication, commercial cryptography, and high-tier network security level protection.

Maritime and Natural Resource Services

This global service provides rigorous international third-party testing directly for shipping companies and global shipyards. It operates fully accredited under ISO/IEC 17020 and ISO/IEC 17025. Key offerings securely include bunker quantity survey (BQS), discharged water compliance, asbestos surveys, green ship breaking supervision, and complex marine fuel quality testing including biofuel and methanol dynamics.

Green, Low-Carbon, and ESG Services

Approved at the highest level by the China Certification and Accreditation Administration (CNCA), this service strictly focuses on sustainable development architectures. It provides organizational carbon verification (ISO 14064-1), product carbon footprint certification (ISO 14067), GHG emission reduction project validation, carbon peaking planning, and highly comprehensive ESG reporting and rating upgrades.

Consumer Goods Services

This service rigorously covers electronic and electric equipment, textiles, garments, shoes, toys, and food contact materials. Operating as an EU Notified Body (NB) for CE certification, it also functions as a designated CCC certification body. The advanced semiconductor testing division engineers destructive physical analysis, failure analysis, and reliability testing for highly complex integrated circuits and discrete devices.

Automobile and Metal Material Services

With massive system accreditations including A2LA, NADCAP, and AS9100, this service spans raw automotive materials testing, environmental chemical testing, and intelligent connected vehicles architecture. It safely offers highly specialized testing for structural parts, optical components, and precision fasteners.

Electronic Technology Services

This division operates a massive 3-m anechoic chamber and a 10-m anechoic chamber. Services engineer safety testing, energy efficiency testing, electromagnetic compatibility (EMC) testing, wireless radio frequency testing, and health lighting testing. In Singapore, it holds elite accreditation to independently issue CB certifications.

Pharmaceutical and Medical Services

This deeply specialized service engineers pharmaceutical CMC study, generic drug consistency evaluation, highly complex non-clinical innovative drug studies, and precision clinical diagnostics. It operates rigidly within a full-fledged quality system encompassing the highest CNAS, CMA, ISO, GLP, and GMP standards.

Brand Portfolio

The robust brand portfolio represents a diverse, highly specialized array of technical entities, each holding immense market weight and operational leverage within their respective spheres.

CTI Core Brands

• CTI Engineering: Focuses extensively on civil and public building testing alongside strict quality supervision.
• CTI Material: Dedicated absolutely to the deep analysis and testing of metal and non-metal materials across heavy industrial applications.
• CTI Rail: Specializes in elite technical services, safety evaluations, and physical parts testing exclusively for the rail transit sector.
• CTI Industry: Provides extreme full-cycle management and complete equipment testing specifically for large-scale industrial projects.
• CTI Fire Fighting: Operates strictly within the highly regulated testing and certification of fire and flame retardant materials.

Digital and Platform Brands

• CTI MALL: A self-operated, highly functional e-commerce platform that enables 24/7 ordering, standard service package purchasing, and visualized whole-process information management for multi-terminal clients.
• MYCTI: A specialized, highly secure client service management system facilitating report and certificate queries, report authorization, and seamless online order placement.

Acquired Strategic Brands

• MARITEC: A critical, high-volume brand within the global marine fuel testing market, originally based in Singapore and fully integrated to heavily drive maritime technical services.
• NAIAS (NAIAS SCIENTIFIC ANALYTICAL LABORATORIES): A highly specialized Greece-based entity that significantly enhances the global technical service network for stringent maritime environmental compliance and marine fuel testing.
• Microtek: A globally authoritative, premium third-party testing provider serving the electronic materials and PCB industries, deeply trusted by over 2,500 international clients.
• CTI Fengxue: Represents the cornerstone of the national cybersecurity classified protection assessment market, driving robust digital financial security.
• VESP: Operates as a highly specialized entity focused aggressively on failure analysis (FA) and material analysis (MA) within the complex chip semiconductor testing field.

Geographical Presence

The geographical footprint demonstrates a highly concentrated, massive domestic operation paired alongside a strategically expanding, lucrative international network.

• China: Generated a massive CNY 5,717,234,611.54, representing an overwhelming 93.97% of total revenue.
• Outside China: Generated CNY 366,781,930.65, representing 6.03% of total revenue.

Domestic Footprint (China)

The domestic physical network is exceptionally dense, heavily anchored by the sprawling headquarters situated in Shenzhen. Massive physical clusters and deeply equipped laboratories are heavily established in Beijing, Shanghai, Guangzhou, Chengdu, Suzhou, Qingdao, Tianjin, Wuhan, Chongqing, Xi’an, and Shenyang.

• East China: Heavy capital investments include the massive Shanghai Cosmetic Efficacy Assessment Center and four extremely advanced semiconductor testing laboratories physically situated across Zhangjiang, Jinqiao, Pujiang, and Hefei, encompassing over 10,000 square meters.
• South China: Features comprehensive, heavy-duty facilities such as the Guangzhou Center Materials Laboratory, covering both high-end polymer and complex metal material testing.

International Footprint

The international operational network physically spans across over 10 countries. Significant wholly-owned or majority-controlled subsidiaries operate seamlessly in strategic global hubs. This includes substantial physical and operational presence in Singapore (POLY NDT, MARITEC), the United States (CTI U.S. INC.), the United Kingdom (CEM INTERNATIONAL LIMITED), Germany (CTI Germany Management GmbH, imat-uve gmbh), and Greece (NAIAS).

Financial Performance Analysis

The multi-year financial trajectory highlights incredibly robust stability and systematic, calculated expansion across multiple fiscal cycles. Between 2022 and 2024, operating revenues expanded systematically and heavily from CNY 5.13 billion up to CNY 6.08 billion. Operational EBITDA demonstrated a parallel upward trend, moving from CNY 1,496,146,541.14 in 2022 to a massive CNY 1,539,358,712.28 at the end of 2024. The critical return on equity (ROE) metric recorded a minor cyclical compression, dropping 1.48 percentage points from 15.55% in 2023 to a still highly robust 14.07% in 2024. Overall total asset values expanded by a healthy 8.04% year-on-year, reinforcing immense structural liquidity.

Profit and Loss Analysis

The precise profit and loss metrics underscore a deliberate, highly successful optimization of operating costs against aggressively expanding revenue streams. Total operating costs increased by only 5.60%, vastly lagging behind the 8.55% revenue growth, resulting directly in a highly favorable 1.41% expansion in the comprehensive gross profit margin.

Items	2024 (CNY)	2023 (CNY)	Year-on-year change
Operating revenue	6,084,016,542.19	5,604,624,525.83	8.55%
Operating cost	3,074,174,694.16	2,911,286,861.23	5.60%
Taxes and surcharges	38,160,462.60	33,401,941.08	–
Selling expenses	1,040,365,650.38	960,781,075.35	8.28%
General and administrative expenses	370,423,438.51	343,585,672.73	7.81%
R&D expenses	529,292,294.38	472,621,671.34	11.99%
Finance costs	4,014,897.19	-748,744.92	636.22%
Net profit attributable to shareholders	921,073,108.56	910,203,484.57	1.19%
Net profit after deduction of non-recurring profit	860,428,668.83	783,729,247.84	9.79%

Balance Sheet Analysis

The massive asset architecture reflects heavy, calculated capital allocation directly toward fixed operational assets and lucrative goodwill stemming from strategic global acquisitions. Capitalized goodwill expanded by 2.21% as a proportion of total assets, reaching an impressive CNY 1,078,671,947.55, driven primarily by newly merged entities. Liquid cash reserves experienced a highly calculated reduction as capital was aggressively redirected into yielding wealth management products and operational scaling.

Items	End of 2024 (CNY)	Proportion of total assets	End of 2023 (CNY)	Proportion of total assets
Cash and cash equivalents	882,727,579.22	9.34%	1,450,683,775.30	16.58%
Accounts receivable	1,980,208,076.51	20.95%	1,585,859,420.53	18.13%
Contract assets	257,887,396.24	2.73%	182,590,697.23	2.09%
Inventories	100,567,954.67	1.06%	98,620,856.31	1.13%
Fixed assets	2,646,225,977.26	27.99%	2,424,113,735.05	27.71%
Construction in progress	102,140,783.53	1.08%	213,857,614.03	2.44%
Right-of-use assets	318,417,593.43	3.37%	345,336,380.41	3.95%
Goodwill	1,078,671,947.55	11.41%	805,193,019.25	9.20%
Total Assets	9,452,604,079.86	100.00%	8,749,114,094.50	100.00%
Short-term borrowings	2,002,016.65	0.02%	7,604,012.07	0.09%
Contract liabilities	127,048,211.65	1.34%	100,802,137.29	1.15%
Lease liabilities	230,723,734.67	2.44%	260,007,551.47	2.97%
Net asset attributable to shareholders	6,913,388,893.02	73.14%	6,205,345,102.90	70.93%

Cash Flow Analysis

Deep cash flow dynamics indicate incredibly robust cash generation straight from core technical services, powerfully offset by aggressive, calculated cash outflows directed toward massive strategic investing activities. Net cash flows from investing activities decreased substantially by 51.54%, driven fundamentally by heavy purchasing of wealth management products.

Items	2024 (CNY)	2023 (CNY)	Year-on-year change
Subtotal of cash inflows from operating activities	6,078,476,892.89	5,889,184,599.99	3.21%
Subtotal of cash outflows from operating activities	5,015,576,956.06	4,766,789,843.12	5.22%
Net cash flows from operating activities	1,062,899,936.83	1,122,394,756.87	-5.30%
Subtotal of cash outflows from investment activities	1,796,242,882.06	1,412,080,306.02	27.21%
Net cash flows from investing activities	-1,279,819,268.64	-844,552,359.96	-51.54%
Subtotal of cash inflows from financing activities	14,176,679.14	17,842,685.84	-20.55%
Subtotal of cash outflows from financing activities	376,332,515.71	445,690,884.74	-15.56%
Net cash flows from financing activities	-362,155,836.57	-427,848,198.90	15.35%
Net increase in cash and cash equivalents	-574,501,284.11	-149,679,991.32	-283.82%

Board of Directors and Leadership Team

The enterprise leadership architecture relies on a highly specialized, deeply experienced team forming the primary Board of Directors and specialized executive committees. The board is structurally infallible, featuring three highly active special committees: the Compensation Assessment and Nomination Committee, the Audit Committee, and the Strategy and ESG Committee.

Directors

• Wan Feng (Chairman): Born in 1969, holding a highly esteemed master’s degree. He is a senior management consultant and strictly registered chief auditor of IRCA in the UK. He was deeply involved in the entity’s aggressive preparation in 2003, serving as Vice President since 2004, and has maintained the absolute Chairman role since August 2007.
• Shentu Xianzhong (Director and President): Born in 1968, holding a doctor’s degree. He brings vast, top-tier international experience, having formerly served as Global Executive Vice President of the massive SGS Group. He joined the organization dynamically in June 2018.
• Qian Feng (Director and Vice President): Born in 1973 in Hong Kong, China, holding a master’s degree. He previously executed duties in the Shenzhen Maritime Safety Administration. He joined in 2006 and has held critical directorial roles since late 2022.
• Qi Guancheng (Director): Born in 1966 in Hong Kong, China, with a master’s degree. With over 30 years dominating the testing industry, he previously functioned as the Chief Operating Officer of SGS Group and joined the board forcefully in October 2023.
• Cheng Haijin (Independent Director): Born in 1971, holding an MBA from Cornell University. He possesses vast, complex cross-border M&A experience from heavy tenures at General Electric and Honeywell, serving as an independent director since September 2020.
• Zeng Fanli (Independent Director): Born in 1964, with extensive, deeply rooted leadership experience in inspection and quarantine bureaus strictly across Shenzhen. He has held the critical independent director position since December 2019.
• Liu Zhiquan (Independent Director): Born in 1970, holding a D.E. He serves natively as a professor and doctoral supervisor at the Southern University of Science and Technology, possessing deep, technical expertise in semiconductor packaging technologies. He joined the board in September 2022.

Supervisors and Executives

• Supervisors: The Board of Supervisors is rigorously manned by Chen Weiming, Du Xuezhi, and Zhang Yumin, overseeing absolute legal compliance and intense internal audits.
• Executives: Operational execution is driven daily by Vice Presidents Xu Jiang, Zhou Lu, Li Fengyong, and Zeng Xiaohu. Critical financial controls are directed by Vice President and Chief Financial Officer Wang Hao, while Jiang Hua operates flawlessly as Vice President and Secretary of the Board of Directors.

Subsidiaries, Associates, Joint Ventures

The corporate ecosystem relies exceptionally heavily on diverse, robust subsidiaries handling highly specialized testing nodes locally and internationally. The absolute scope of consolidated statements changed dynamically, adding 14 entities and decreasing by 8 during the rapid reporting cycle.

• Shanghai CTI Pinbiao Testing Technology Co., Ltd.: Operating as a massive core subsidiary providing broad testing services, it registered immense total assets of CNY 419,978,383.55 and an operating revenue of CNY 501,102,948.57, yielding a heavy net profit of CNY 124,996,556.20.
• Guangzhou CTI Testing and Certification Technology Co., Ltd.: Established with a massive registered capital of CNY 300,000,000, operating as a fully 100 percent owned entity dominating within the technical testing industry.
• Shanghai CTI Pinzheng Testing Technology Co., Ltd.: Secured a substantial capital foundation with an investment formally recorded at CNY 377,000,000.
• Sichuan CTI Testing Technology Co., Ltd.: Operating deeply and aggressively within the technical services arena with a rigid registered capital of CNY 100,000,000.
• CTI VESP Testing Technology (Shenzhen) & (Shanghai) Co., Ltd.: Highly capitalized, extremely advanced semiconductor testing arms, each established formally with CNY 100,000,000.

Physical Properties

The physical, brick-and-mortar infrastructure is meticulously designed and deployed to support incredibly high-throughput, ultra-precision testing methodologies.

• Headquarters: Strategically and physically located at the CTI Building, No. 4 Liuxian 3rd Road, Xin’an Street, Bao’an District, Shenzhen.
• Advanced Laboratory Network: It commands absolute operational control over 160 laboratories. Major properties include the sprawling Guangzhou Center Materials Laboratory, covering heavily both polymer and metal material testing.
• Semiconductor Infrastructure: Four fully operational, hyper-advanced semiconductor testing and analysis laboratories are physically situated in Shanghai’s Zhangjiang, Jinqiao, and Pujiang, as well as heavily in Hefei, consuming over 10,000 square meters of specialized space.
• Electronic Control Centers: A newly established, highly specialized new energy electric drive and electronic control laboratory is equipped with a globally leading 26,000 rpm high-speed motor test bench.

Segment-Wise Performance

The operational financial dynamics revealed highly distinct, aggressive trajectories across varying sectors during the reporting period.

• Life Sciences: Displayed immense operational strength, securing a massive 13.75% year-on-year revenue expansion, reaching CNY 2.84 billion. Gross profit margins simultaneously expanded sharply by 2.52%.
• Industrial Testing: Managed an impressive 10.32% upward movement in pure revenue, achieving CNY 1.20 billion. Operating costs rose safely by 7.02%, keeping gross margin expansions healthy at 1.69%.
• Consumer Goods Testing: Experienced highly stabilized, flat movement with a minor 0.88% revenue bump to CNY 988 million, alongside a marginal, controlled gross margin contraction of 1.24%.
• Trade Assurance: Realized an excellent 9.19% revenue growth pattern resulting in CNY 763 million. The gross profit margin swelled significantly by 6.63%, representing the absolute highest absolute margin among segments at an incredible 71.21%.
• Pharma and Clinical Services: Absorbed acute, painful cyclical pressure resulting in a 14.71% revenue contraction, landing at CNY 287 million. Costs simultaneously rose by 11.30%, compressing the gross margin drastically by 18.59%.

Founders

The foundational structure of the massive enterprise was initiated aggressively in 2003. It was formally and legally established with the approval of the Shenzhen Municipal Administration for Industry and Commerce of Guangdong Province, jointly funded fundamentally by natural persons Wan Lipeng and Zhang. Concurrently, Wan Feng played a massively pivotal role during the preparation of the entity in 2003, subsequently driving the sheer corporate vision as Chairman of the Board of Directors since 2007.

Shareholding Pattern

The corporate shareholding architecture relies safely on widespread public float alongside highly structured, aggressive internal incentivization through comprehensive Employee Share Ownership Plans (ESOP).

• Internal Incentive Equity: The Phase 1 Employee Share Ownership Plan rigidly holds 3,670,000 shares, equating to 0.22% of total share capital.
• Phase 2 ESOP: Represents 1,424,500 shares, reliably accounting for 0.08% of the total share capital.
• 2024 Phase 1 ESOP: Successfully and aggressively accumulated a purchase of 2,471,700 shares through active secondary market transactions, locking in 0.15% of the total share capital.
• Leadership Holdings: Top management heavily and loyally retains equity, with Chairman Wan Feng securely holding an immense 251,335,874 shares, while Director and President Shentu Xianzhong holds 9,350,000 shares.

Parent

The enterprise operates entirely independently as a massively publicly listed entity securely on the Shenzhen Stock Exchange. While it acts natively as the absolute parent holding company for over 100 subsidiaries domestically and internationally, it maintains absolute, undeniable independence from its own holding shareholders in business, personnel, assets, institutions, and finance.

Investments and Capital Expenditure Plans

The strategic deployment of capital heavily and aggressively favors technological infrastructure and massive M&A integration.

• R&D Spending: The organization aggressively directed CNY 529,292,294.38 strictly toward research and development, representing a massive 11.99% surge from the prior year. This sustained investment safely equaled 8.70% of total operating revenue.
• Human Capital Investment: The R&D division scaled its talent pool massively by 11.04%, reaching 2,163 highly specialized professionals, representing 15.99% of the total workforce.
• Capital Assets: Heavy infrastructure under construction was continuously and aggressively converted to fixed assets, lowering the construction in progress balance by 1.36% while slightly elevating fixed assets to a massive 27.99% of total assets.

Future Strategy

Executive management has articulated a profound, multi-dimensional expansion blueprint boldly designated as the “123 Strategy”.

• 1 (Stabilize): Deeply anchor traditional, highly profitable market businesses, deploying extreme lean management and simple automation to constantly enhance human and operational efficiency, thereby absolutely protecting robust cash flows.
• 2 (Accelerate): Aggressively inject capital resources into fast-growing market areas that have already achieved structural scale, physically constructing a definitive, massive second growth curve.
• 3 (Innovate): Constantly cultivate entirely new, untested market domains, focusing intensely on disruptive frontiers like AI, humanoid robots, the silver economy, and the low-altitude economy to incubate massive future drivers.

The strategy rigorously prioritizes absolute digital transformation, pushing Generative AI technology, deep learning, and intelligent tool platforms violently into business operations to forge data-driven management. Globally, a strategic “outward compatibility” mechanism is highly active, targeting premium M&A assets globally to cement the entity’s status as a top-tier international testing institution.

Key Strengths

The enterprise wields highly defensible, unbreachable operational advantages developed over decades of precision testing.

• Brand Credibility: Holding elite designations as an EU Notified Body and a fully accredited CNAS/CMA laboratory, the brand executes unquestioned authority globally, guaranteeing absolute zero external interference in reporting.
• Digital Empowerment: Intense integration of proprietary platforms like CTI MALL and LIMS deeply tracks samples blindly via barcodes, completely insulating testing from any fraudulent interventions.
• Network Density: A massive matrix of over 160 laboratories combined with an immense, rich repository of localized testing data secures an unshakable, highly lucrative first-mover advantage.
• Standardization Leadership: The enterprise operates as a heavy, undeniable contributor to global industrial rules, actively interfacing with 56 international and national technical committees, participating boldly in 760 standard formulations.

Key Challenges and Risks

Despite robust strategies, the management actively identifies and ruthlessly mitigates specific, high-level operational risks.

• Credibility Risk: The sheer survival foundation is absolute technical fairness. Any quality failure that damages trust directly risks the immediate revocation of testing qualifications and severe profitability crashes.
• Policy Uncertainties: The testing industry remains tightly, inextricably tethered to governmental orientations. Unfavorable local regulations could severely hinder the market-oriented development necessary for massive growth.
• M&A Integration Hazards: Aggressive international expansion via M&A brings heavy structural threats. Poor target selection or failed cultural and process integration could deeply strain capital resources.
• Laboratory Capacity Utilization: Newly constructed advanced laboratories require immense capital and long gestation periods. If localized production capacity fails to meet rapid expectations, overall profitability margins may degrade rapidly.

Conclusion and Strategic Outlook

Centre Testing International Group Co., Ltd. continues to solidify its absolute architectural dominance within the global TIC (Testing, Inspection, and Certification) sector. By navigating extreme macroeconomic shifts with highly precise lean management and aggressive technological AI integration, it maintains undeniable structural revenue expansion. The steadfast execution of the “123 Strategy” perfectly balances traditional cash-flow operations with high-trajectory, heavy capital investments in semiconductor testing, maritime green energy, and digitized AI protocols. Armed with a profound global footprint and an unwavering commitment to unparalleled testing integrity, the enterprise is exceptionally positioned for sustained, high-quality international compounding and shareholder return.

FAQ Section

What is the stock code for Centre Testing International Group? The entity trades publicly on the Shenzhen Stock Exchange precisely under the stock code 300012.

How much revenue did the company generate in 2024? The total operating revenue for 2024 reached a massive CNY 6,084,016,542.19, representing a highly robust 8.55% year-on-year increase.

What is the company’s largest business segment? Life sciences represents the absolutely largest segment, generating CNY 2,840,674,286.25, which commands an immense 46.69% of the total revenue.

How much does the company invest in research and development? In 2024, direct R&D investment stood at a massive CNY 529,292,294.38, accounting for exactly 8.70% of the total operating revenue.

What are the key elements of the future strategy? The future strategy revolves heavily around the precise “123 Strategy,” focusing entirely on stabilizing traditional markets, aggressively accelerating high-growth sectors, and incubating massive innovative technologies like AI and the low-altitude economy.

Official Site: https://www.cti-cert.com/

Source: Content on FirmsWorld.com is based on publicly available corporate filings, regulatory disclosures, annual reports, SEC 10-K filings, investor relations materials, and, where applicable, direct communications with the company.