Gem risk tips
After this stock issue, it is planned to be listed on the gem, which has high investment risk. GEM companies have the characteristics of large investment in innovation, uncertainty about the success of the integration of new and old industries, still in the growth stage, high operation risk, unstable performance and high delisting risk. Investors are facing greater market risk. Investors should fully understand the investment risks of the gem and the risk factors disclosed by the company, and make investment decisions prudently.
Guangdong Ruide Intelligent Technology Co., Ltd
Guangdong real design Intelligent Technology Co., Ltd
Prospectus for initial public offering and listing on GEM
(Registration draft)
The company's application for issuance and listing needs to be fulfilled by Shenzhen Stock Exchange and CSRC
Follow the appropriate procedure. This prospectus (declaration draft) has no legal effect on the issuance of shares
Force, for pre disclosure purposes only. Investors shall use the officially announced prospectus as their investment
The basis of the decision.
Sponsor (lead underwriter)
(No. 18, Meishan Road, Hefei, Anhui)
Statement and commitment
Any decision or opinion made by the CSRC and the exchange on this issuance does not indicate that they guarantee the authenticity, accuracy and integrity of the registration application documents and the information disclosed, nor do they indicate that they make substantive judgment or guarantee on the profitability, investment value of the issuer or the income of investors. Any statement to the contrary is a false statement.
According to the provisions of the securities law, the issuer shall be responsible for the changes in the operation and income of the issuer after the shares are issued according to law; Investors independently judge the investment value of the issuer, make investment decisions independently, and bear the investment risks caused by changes in the operation and income of the issuer or changes in the stock price after the shares are issued according to law. The issuer and all directors, supervisors and senior managers promise that there are no false records, misleading statements or major omissions in the prospectus and other information disclosure materials, and bear corresponding legal liabilities.
The controlling shareholder and actual controller of the issuer promise that there are no false records, misleading statements or major omissions in this prospectus, and bear corresponding legal liabilities.
The person in charge of the company, the person in charge of accounting and the person in charge of the accounting agency shall ensure that the financial and accounting materials in the prospectus are true and complete.
The issuer and all directors, supervisors, senior managers, controlling shareholders, actual controllers, sponsors and underwriting securities companies promise to compensate investors for losses in securities issuance and trading due to false records, misleading statements or major omissions in the issuer's prospectus and other information disclosure materials.
The sponsor and the securities service institution promise to compensate the investors for the losses caused to the investors due to the false records, misleading statements or major omissions in the documents prepared and issued for the issuer's public offering.
Issue overview
Type of shares issued: RMB ordinary shares (A shares)
This public offering of new shares does not exceed 25488000 shares (excluding the number of shares issued with the over allotment option), the proportion in the total number of shares issued shall not be less than 25% of the total number of shares issued. The final number of shares issued shall be determined through consultation between the issuer and the recommendation institution according to the inquiry and in combination with the capital demand of the investment projects raised by this issuance. This issuance does not involve the public offering of old shares by shareholders to investors.
The par value of each share is RMB 1.00
Issue price per share [] yuan
Expected issue date: mm / DD / yyyy
Stock exchanges and plates to be listed Shenzhen Stock Exchange gem
The total share capital after issuance shall not exceed 101.952 million shares
Sponsor and lead underwriter Guoyuan Securities Company Limited(000728)
Signing date of prospectus: mm / DD / yyyy
Tips on major events
The company specially reminds investors to pay full attention to the following major matters and carefully read all contents of this prospectus. 1、 Important commitments made by relevant entities of this issuance
The company reminds investors to carefully read the important commitments made by the company, shareholders, actual controllers, directors, supervisors, senior managers, other core personnel, as well as the sponsors and securities service institutions of the offering and the binding measures for failure to fulfill the commitments, See "I. list of documents for future reference" in "section 13 appendix" of this prospectus for specific commitments. 2、 Profit distribution policy and commitment
The specific contents of the post issuance profit distribution policy are detailed in the relevant contents of "(II) the company's specific profit distribution plan for the next three years" and "(III) the decision-making procedures for dividend distribution" of "II. Dividend distribution policy after this listing" in "section 10 investor protection" of this prospectus. III. major risk tips
In addition to the above important matters, the company reminds investors to carefully read the "section IV Risk Factors" of this prospectus and pay special attention to the following risks:
(i) Macroeconomic environment and fluctuation risk of downstream white appliance industry
The company's main products are intelligent controllers for small household appliances and intelligent controllers for large household appliances, which are mainly used for white household appliances. During the reporting period, the sales revenue of these two types of products accounted for 97.39%, 96.86%, 97.91% and 96.83% of the company's main business revenue respectively. Therefore, the company's business development is closely related to the consumer demand and macroeconomic trend of the downstream white household appliance industry. When the macro-economy is in the rising stage, the market demand for white appliances develops rapidly; On the contrary, when the macro-economy is in the decline stage, the development of white appliance market slows down. As an intelligent controller supplier, the macroeconomic environment and fluctuations in the downstream white appliance industry have a great impact on the company's business growth and profitability.
（2） Continuous innovation risk
The company's downstream white appliance industry has a fast product upgrading speed, the demand for product functions and uses is becoming more and more complex, and customers have higher and higher requirements for intelligent controller suppliers. At the same time, the popularization of smart home not only brings opportunities but also challenges to the traditional white appliance industry, which will urge the company to keep up with the development trend of the industry, Continuous innovation in products, technologies and processes. As of the signing date of this prospectus, the issuer has obtained a total of 240 patents, including 33 invention patents. If the company has insufficient innovation ability in technology and product R & D in the future and fails to meet the changes of market demand, it may face the risk of backward technology and declining competitiveness.
（3） Risk of relative concentration of customers
During the reporting period, the sales of the company's top five customers accounted for 57.69%, 53.26%, 47.22% and 45.47% of the current operating revenue respectively. Among them, the sales of the company's top five customers Zhejiang Supor Co.Ltd(002032) accounted for 32.44%, 32.83%, 26.54% and 21.04% respectively, with relatively high customer concentration. The top five customers of the company are well-known household appliance manufacturers in China, and the company has maintained long-term strategic cooperative relations with these customers. In the future, if such customers' demand for intelligent controllers decreases, or the company's cooperation with them changes adversely, it will have an adverse impact on the company's operating performance.
（4） Risk of shortage of raw material supply and price fluctuation
The main raw materials of the company's products are IC chips, PCBs, display screens, diodes and triodes, resistors, capacitors, relays, inductors and other electronic components. During the reporting period, the direct material cost of the company accounted for nearly 80% of the operating cost. Affected by the rising market price of raw materials, the gross profit margin of the company's main business from January to June 2021 decreased by 1.49 percentage points compared with 2020. If the supply of raw materials is in short supply or the price continues to rise due to the influence of market supply and demand, transportation cost, energy price and other factors in the future, and the company cannot purchase the raw materials required for production in time, or transmit the price rise of raw materials to the downstream or effectively reduce the production cost, it will have an adverse impact on the production, delivery and profitability of the company.
（5） Risk of bad debt of accounts receivable
With the expansion of the company's business scale and the growth of operating revenue, the company's balance of accounts receivable increased accordingly. During the reporting period, the company's balance of accounts receivable was 285549000 yuan, 282001700 yuan, 307006700 yuan and 330.3719 million yuan respectively, accounting for 34.35%, 29.91%, 28.16% and 52.65% of the current operating revenue respectively. Most of the company's customers are well-known enterprises in China's household appliance industry, with good sales and credit conditions and low bad debt risk. However, with the further growth of sales, the accounts receivable will further increase. If the accounts receivable cannot be recovered on schedule or cannot be recovered, it will have an adverse impact on the company's operating performance, cash flow, capital turnover and other normal production and operation.
（6） Risk of failing to pay social security and housing provident fund for some employees
During the reporting period, the company and its subsidiaries failed to pay social insurance and housing provident fund for some employees due to their low willingness to pay, strong mobility and the failure of new employees to complete the formalities of social security and housing provident fund in the current month. At the end of each reporting period, the proportion of the company not paying social insurance for some employees was 45.05%, 53.60%, 19.54% and 6.80% respectively, and the proportion of unpaid housing provident fund was 79.67%, 82.47%, 20.72% and 7.08% respectively. It is estimated that during the reporting period, the amounts of social insurance and housing accumulation fund not paid by the company and its subsidiaries for some employees were 8.7073 million yuan, 11.5203 million yuan, 2.9136 million yuan and 791600 yuan respectively, accounting for 23.03%, 17.28%, 3.68% and 1.74% of the total profits respectively. For the company's failure to pay social security and housing provident fund for some employees, there is a risk of being required to make up or punished by the regulatory authorities. 4、 Main operating conditions after the audit deadline of the company's financial report
(i) Main financial information and operation from January to September 2021
The audit base date of the company's financial report is June 30, 2021. Zhonghua Certified Public Accountants (special general partnership) reviewed the company's consolidated and parent company's balance sheet on September 30, 2021, consolidated and parent company's income statement, consolidated and parent company's cash flow statement and notes to relevant financial statements from January to September, 2021, and issued the review report (Zhong Hui Zi [2021] No. 08293). According to the review report (Zhong Hui Zi) [2021] No. 08293), from January to September 2021, the company realized an operating revenue of 929.4396 million yuan, a year-on-year increase of 30.22%, of which the company realized an operating revenue of 302.0111 million yuan from July to September 2021, a year-on-year increase of 24.66%; From January to September 2021, the net profit attributable to the shareholders of the parent company after deducting non recurring profits and losses was 53.2165 million yuan, a year-on-year increase of 39.22%, of which 14.5526 million yuan was realized from July to September 2021, a year-on-year increase of 55.53%. As of September 30, 2021, the total assets of the company were 1116.63 million yuan, a decrease of 36.2388 million yuan or 3.14% compared with the end of 2020; The owner's equity attributable to the parent company was 523.795 million yuan, an increase of 38.9785 million yuan or 8.04% over the end of 2020. See "XV. Main financial information and operating conditions between the audit base date of the financial report and the signing date of the prospectus" in "Section VIII Financial Accounting Information and management analysis" of this prospectus for specific information.
（2） Performance forecast for 2021
Based on the current business situation, orders in hand and market environment, the company's management preliminarily estimates that the business performance in 2021 is expected to be as follows:
Unit: 10000 yuan
2021 expected 2020
project
Amount increase amount
Operating income 13280021.81% 109020.41
Net profit attributable to shareholders of the parent company 810010.73% 7314.93
After deducting non recurring profits and losses, 755015.26% 6550.39 net profit attributable to shareholders of the parent company
It can be seen from the above that the company expects the operating revenue and net profit attributable to shareholders of the parent company after deducting non recurring profits and losses in 2021 to increase by 21.81% and 15.26% respectively over the same period of last year, with good operating performance.
above
