Raytron Technology Co.Ltd(688002) (688002) announced on February 13 that the company plans to issue convertible bonds to unspecified objects, raising no more than 1.64 billion yuan. After deducting the issuance expenses, it will be used for infrared thermal imaging machine project, intelligent photoelectric sensor R & D pilot platform and supplementary working capital.
Combing the convertible bond scheme of the company, one of the main investment of the raised funds is to consolidate the main business of infrared thermal imaging of the company. The scheme shows that the infrared thermal imaging machine project is divided into two sub items.
Among them, iResearch infrared thermal imaging machine project (hereinafter referred to as "iResearch project") is constructed by its subsidiary Yantai iResearch Photoelectric Technology Co., Ltd., with a total investment of 800 million yuan, of which the amount of raised funds is 619 million yuan. The construction period of the project is expected to be 3 years. After completion, it is estimated that the after tax financial internal rate of return is 31.65% and the static investment payback period is 6.09 years (after tax, including the construction period).
Another sub project, infrared thermal imaging terminal product project (hereinafter referred to as "Yingrui project") is constructed by Hefei Yingrui System Technology Co., Ltd., with a total investment of 300 million yuan, including 135 million yuan of raised funds and an annual production capacity of 140000 sets. After the completion of the project, the after tax financial internal rate of return is 26.62%, and the static investment payback period is 5.7 years (after tax, including the construction period).
Although the above two subprojects are the main business of the company, the strategic direction is slightly different.
Airui project is to further enrich the company's infrared product line. The company's annual production capacity is 3.5 million sets, which will consolidate the company's market position in the infrared field; Yingrui project is to cooperate with the overall development strategy of Raytron Technology Co.Ltd(688002) and promote the construction of China's infrared imaging ecological industrial chain.
The announcement said that at present, the uncooled infrared focal plane detector, the core component of the infrared thermal imager, has been successfully localized and mass produced, but there is still a certain gap in terminal application compared with developed countries such as Europe and the United States. To completely get rid of the constraints of foreign countries, it is imperative for the company to develop independent and controllable infrared imaging terminal products with independent intellectual property rights.
Secondly, considering the industrial profit, if the company wants to be bigger and stronger, it needs to extend the infrared imaging industry chain from the upstream to the downstream with relatively rich profits. The company's layout in advance will occupy a favorable advantage in future market expansion.
Statistics show that uncooled infrared technology is widely used in the fields of night assisted driving, security monitoring, personal vision, disease prevention and control, fire control, industrial temperature measurement and so on. At present, in the world, infrared products are applied to many fields such as automobile, security and industrial temperature measurement. In China, infrared imaging products have been preliminarily applied and verified in the fields of power inspection, disease prevention and control, security monitoring and so on.
The company believes that "with the successful localization of uncooled infrared focal plane detector, China's civil market will usher in an explosive period in the near future".
It is worth mentioning that another focus of this fund-raising is to invest in the pilot platform project for the research and development of intelligent photoelectric sensors. The project is constructed by Yantai Qixin Semiconductor Technology Research Institute Co., Ltd., with a total investment of 900 million yuan, of which 400 million yuan will be raised to achieve an annual production capacity of 2 million Series sensors.
The announcement said that intelligent photoelectric sensors are widely used in various fields such as industry and electronic consumer goods. Through the construction of this project, the company will improve the technical reserves in the direction of new intelligent photoelectric sensors such as infrared, laser and microwave, which is conducive to promoting the independent and controllable progress in the field of photoelectric sensors in China.
According to the financial report, the company realized an operating revenue of 1.209 billion yuan in the first to third quarters of 2021, an increase of 12.15% over the same period last year. Among them, the main products: infrared detector and movement module, infrared thermal imager, and the whole machine realized a main business revenue of 655 million yuan and 529 million yuan respectively, an increase of 14.67% and 15.50% over the same period last year.
