Shenzhen oney Electronics Co., Ltd
Shenzhen Aoni Electronic Co., Ltd.
(address: 2 / F, 3 / F, 6 / F, 7 / F, west half floor, 8 / F, 9 / F, Honghui Industrial Park, Liuxian 2nd Road, Xin'an street, Bao'an District, Shenzhen) IPO and listing on GEM
Listing announcement
Sponsor (lead underwriter)
(address: floor 12 and 15, Xinsheng building, No. 5, Financial Street, Xicheng District, Beijing)
December, 2021
hot tip
The shares of Shenzhen oneI Electronics Co., Ltd. (hereinafter referred to as "oneI Electronics", "the company" or "the issuer") will be listed on the gem of Shenzhen Stock Exchange on December 28, 2021. The company reminds investors to fully understand the stock market risks and the risk factors disclosed by the company, and avoid blindly following the trend of "speculation" in the initial stage of new share listing , we should make prudent decisions and invest rationally.
Unless otherwise specified, the abbreviations or terms in this listing announcement shall have the same meanings as those in the prospectus of the company's initial public offering of shares and listing on the gem.
Section I important statements and tips
1、 Important statement
The company and all directors, supervisors and senior managers guarantee the authenticity, accuracy and completeness of the listing announcement, promise that there are no false records, misleading statements or major omissions in the listing announcement, and bear legal liabilities according to law.
The opinions of Shenzhen Stock Exchange and relevant government authorities on the listing of the company's shares and related matters do not indicate any guarantee to the company.
The company reminds investors to carefully read the contents of the "risk factors" chapter of the company's prospectus published on http://www.cn.info.com.. CN., www.cs.com.. CN., China Securities Network (www.cn. Stock. Com.), securities times (www.stcn. Com.) and Securities Daily (www.zqrb. CN), pay attention to risks, make prudent decisions and invest rationally.
The company reminds the majority of investors that investors are invited to refer to the full text of the company's prospectus for relevant contents not involved in this listing announcement. 2、 Special tips on investment risk at the initial stage of gem IPO
The issue price is 66.18 yuan / share, It shall not exceed the median and weighted average of offline investors' quotations after excluding the highest quotation, as well as the securities investment fund established through public offering after excluding the highest quotation (hereinafter referred to as "public fund"), the National Social Security Fund (hereinafter referred to as "social security fund"), the basic old-age insurance fund (hereinafter referred to as "pension"), according to The enterprise annuity fund (hereinafter referred to as "enterprise annuity fund") established in the measures for the administration of enterprise annuity fund and the insurance fund (hereinafter referred to as "insurance fund") meeting the provisions of the measures for the administration of the use of insurance funds, whichever is lower, so the relevant subsidiaries of the sponsor do not participate in the strategic placement.
According to the guidelines for Industry Classification of listed companies (revised in 2012) issued by the CSRC, the industry of oneI electronics is "computer, communication and other electronic equipment manufacturing industry (C39)". As of December 14, 2021 (T-3), The average static P / E ratio of "computer, communication and other electronic equipment manufacturing (C39)" released by China Securities Index Co., Ltd. in the latest month was 49.66 times.
As of December 14, 2021 (T-3), the valuation levels of comparable listed companies are as follows:
2020 deduction not 2020 deduction not T-3 day stock corresponding static market corresponding static market securities referred to as EPS before stock code (yuan / post EPS (yuan / closing price (yuan / earnings ratio (Times) - deduction of non earnings ratio (Times) - deduction of shares)) before (2020) not after (2020)
Anker Innovations Technology Co.Ltd(300866) 300866. SZ2. 10601.7893110. 3952.4261. sixty-nine
Edifier Technology Co.Ltd(002351) 002351. SZ0. 31050.279812. 1939.2643. fifty-seven
Zhuhai Raysharp Technology Co.Ltd(301042) 301042. SZ1. 16551.074646. 2739.7043. 06
Yingtong Telecommunication Co.Ltd(002861) 002861. SZ0. 28660.214213. 0245.4360. seventy-eight
Dbg Technology Co.Ltd(300735) 300735. SZ0. 41140.349715. 1836.9043. forty-one
Sharetronic Data Technology Co.Ltd(300857) 300857. SZ0. 48530.344533. 0068.0095. seventy-eight
Shenzhen Tvt Digital Technology Co.Ltd(002835) 002835. SZ0. 32180.287410. 4132.3536. twenty-two
The average value is 44.8654 ninety-three
Data source: wind information, data as of December 14, 2021
Note 1: if there is mantissa difference in the calculation of P / E ratio, it is caused by rounding;
Note 2: EPS before / after deduction of non recurring profit and loss in 2020 = net profit attributable to the parent before / after deduction of non recurring profit and loss in 2020 / total share capital on T-3 day; Note 3: among the comparable companies disclosed in the prospectus, Logitech is listed on the US stock market and weihaide is not listed, so it is not included in the valuation comparison of comparable companies.
The issuance price of 66.18 yuan / share corresponds to the lower diluted P / E ratio of the issuer before and after deducting non recurring profits and losses in 2020, which is 40.18 times lower than the average static P / E ratio of the industry in the latest month published by China Securities Index Co., Ltd. and lower than the average static P / E ratio of comparable companies before and after deducting non recurring profits and losses in 2020, However, there is still a risk that the issuer's future share price decline will bring losses to investors.
There is a risk that the net asset scale will increase significantly due to the acquisition of raised funds, which will have an important impact on the issuer's production and operation mode, operation management and risk control ability, financial status, profitability and long-term interests of shareholders. The issuer and the recommendation institution (lead underwriter) remind investors to pay attention to investment risks, carefully study and judge the rationality of issuance pricing, and make investment decisions rationally.
The company reminds investors to pay attention to the investment risk at the initial stage of IPO (hereinafter referred to as "new shares"), and investors should fully understand the risk and rationally participate in the trading of new shares.
Specifically, the risks at the initial stage of IPO of the company include but are not limited to the following:
(i) Relaxation of price limit
Within the first five trading days after listing, the stock trading price shall not be subject to rise or fall restrictions; Five trading days after listing, the price limit ratio is 20%. On the first day of listing of new shares on the main board of Shenzhen Stock Exchange, the proportion of increase limit is 44%, the proportion of decrease limit on the first day of listing is 36%, and the proportion of increase and decrease limit on the next trading day is 10%. The gem further relaxed the restrictions on the rise and fall of stocks in the initial stage of listing, improving the trading risk.
（2） The number of tradable shares is small
After this issuance, the total share capital of the company is 114896465 shares, of which the number of tradable shares without sale conditions is 28452071 shares, accounting for 24.76% of the total share capital after issuance. At the initial stage of listing, the number of circulating shares is small, and there is a risk of insufficient liquidity.
（3） Margin trading risk
GEM stocks can be used as the subject of margin trading on the first day of listing, which may produce certain price fluctuation risk, market risk, margin call risk and liquidity risk. Price fluctuation risk means that margin trading will aggravate the price fluctuation of the underlying stock; Market risk means that when investors use stocks as collateral for financing, they need to bear not only the risks caused by the changes in the original stock price, but also the risks caused by the changes in the stock price of new investment, and pay corresponding interest; Margin increase risk means that investors need to monitor the guarantee ratio level throughout the transaction process to ensure that it is not lower than the maintenance margin ratio required by margin trading; Liquidity risk refers to that when the price of the underlying stock fluctuates violently, the financed purchase of securities or the repayment of securities, the sale of securities or the repayment of securities may be blocked, resulting in greater liquidity risk.
（4） This offering may have the risk of falling below the offering price after listing
Investors should pay full attention to the risk factors contained in the marketization of pricing, know that the stock may fall below the issue price after listing, effectively improve risk awareness, strengthen the concept of value investment, and avoid blind speculation. Regulators, issuers and sponsors (lead underwriters) can not guarantee that the stock will not fall below the issue price after listing. III. special risk tips
The company specially reminds investors that before making investment decisions, they must carefully read all the contents of "section IV Risk Factors" in the prospectus of the company, and pay special attention to the following risk factors:
(i) Risk of negative impact of covid-19 epidemic on the company's production and operation
1. Risk of continuous performance fluctuation under the influence of epidemic situation
The company mainly sells intelligent hardware such as PC / TV external camera, network camera, tachograph and Bluetooth headset. The company's sales revenue and performance are related to macroeconomic development, total social consumption and other factors. Since 2020, the sales revenue of PC / TV external camera has been greatly affected by covid-19 epidemic.
Since January 2020, covid-19 epidemic has spread all over the world, resulting in an increase in the demand for PC / TV external cameras in remote scenes. The company's PC / TV camera revenue also increased rapidly in 2020. However, the covid-19 epidemic has an adverse impact on the GDP and total social consumption of major economies in the world, and has a short-term inhibition on the total social consumption demand for electronic products such as webcams and tachographs to a certain extent. Therefore, generally speaking, the impact direction and degree of covid-19 epidemic on the income of different product lines of the company are different. In terms of product production, up to now, the epidemic situation in China has been controlled, and the impact of the epidemic on the company's product production has been basically eliminated. In terms of product sales, in the first half of 2021, the company's PC / TV camera revenue and final orders have decreased compared with the peak in 2020, but the revenue of webcam, dash cam, Bluetooth headset and other products has increased compared with the same period of the previous year. However, there is still great uncertainty in the control of overseas epidemic. If the overseas epidemic continues, it may have an adverse impact on the overseas demand for webcam, tachograph and other products, and may cause continuous fluctuations in the revenue of different product lines and overall sales revenue of the company. Therefore, the company faces the risk of continuous fluctuation of operating performance under the background of covid-19 epidemic.
2. In 2021, the company's tachograph, webcam and other products recovered their growth trend, but under the background of the decline in PC / TV camera revenue, the company still had the risk of decline in annual revenue, gross profit margin and performance
The influence direction and degree of covid-19 epidemic in 2020 on the income of different product lines of the company are different, resulting in different changes in the income of main customers and main products of the company since 2021.
From the perspective of products, based on the operation in the first half of 2021, the revenue of the company's main products from January to June 2021 increased by about 60.46% compared with the same period of the previous year. Among them, the increase of covid-19 vaccination rate and other factors contributed to the decline of PC / TV sales revenue compared with July to December 2020, but the offline channels returned to normal after the epidemic weakened The accelerated industrial application of Internet of things technology and other factors also promote the rapid growth of revenue of intelligent terminal products such as tachograph and network camera, which is an important reason for the growth of revenue in 2021.
From the perspective of customers, based on the operation in the first half of 2021, the company's PC / TV camera revenue from January to June 2021 decreased compared with July to December 2020, but the sales changes and ranges of customers in different sales channels are different. At the same time, for the original core customers or new customers such as Liguo lighting, owlet baby, Xinhua III, D-Link and cobra, the company's sales growth in the fields of tachograph and webcam is expected to basically offset the impact on the decline in the revenue of PC / TV camera customers.
To sum up, the company's operating revenue from January to June 2021 was 488.581 million yuan, a year-on-year increase of 57.45%. Combined with the factors such as the traditional peak sales season of electronic products in the second half of the year, the growth of tachograph / webcam and other products after the epidemic is gradually alleviated, the company expects the operating revenue in the second half of 2021 to be higher than that in the first half of 2021, and the annual operating revenue in 2021 to be more than 1 billion yuan, but the fluctuation of market demand and other factors may also lead to the revenue growth in 2021. At the same time, under the background of unclear change trend of covid-19 epidemic and continuous international trade frictions, the purchase price of raw materials such as chips may rise, resulting in higher production costs and lower gross profit margin. Therefore, the company's sales revenue, gross profit margin and operating performance in the second half of 2021 and the whole year also have the risk of decline to a certain extent.
（2） The risk of unsustainable sales unit price, revenue growth and high gross profit margin of PC / TV external cameras 1. Covid-19 epidemic has been controlled
