Key investment points
Zhongtai Securities Co.Ltd(600918) small and medium-sized market research team conducted corresponding sorting and Research on the companies approved by the CSRC for IPO registration in the latest week of gem and science and Innovation Board (202203.01202203.07), and launched the weekly special research report on new shares. This weekly report involves 5 enterprises to be issued on the science and innovation board and 3 enterprises to be issued on the gem:
Kechuang board:
Weijie Chuangxin (a21141. SH): the company is an integrated circuit design enterprise focusing on the R & D, design and sales of RF front-end chips. Its products are widely used in various terminal products with wireless communication functions, such as smart phones, tablet computers, wireless routers, intelligent wearable devices and so on. The compound annual growth rates of the company’s revenue and net profit from 2018 to 2020 were 152.48% and – 51.52% respectively. With the development of 5g and the significant trend of miniaturization, emerging fields such as Internet of things and RF front-end market will continue to develop positively. As the raised investment projects promote the enhancement of the company’s technical level and R & D capability, it will be able to meet the diversified and complex testing needs of RF front-end chips and broaden the product application fields. The company is expected to further improve its industry strength and market position.
Tuojing Technology (a21392. SH): the company is mainly engaged in the R & D, production, sales and technical services of high-end semiconductor special equipment. The focused semiconductor film deposition equipment, lithography machine and etching machine together constitute the three main equipment of chip manufacturing. The compound annual growth rates of the company’s revenue and net profit from 2018 to 2020 were 148.32% and 37.47% respectively, with outstanding revenue growth ability. The improvement of the prosperity of the semiconductor industry will provide a broad market space for thin film deposition equipment. With the promotion of the company’s production and R & D capacity by raising investment projects, the application of PECVD products in more advanced processes has been expanded, and the product line of ALD equipment has been further enriched. The company is expected to further improve its industry strength and market position.
Puyuan Jingdian (a21115. SH): the company is an industry-leading high-tech enterprise engaged in the R & D, production and sales of measuring instruments. Its main business is the R & D, production and sales of general electronic measuring instruments. The compound growth rate of the company’s revenue from 2018 to 2020 is 10.11%. The rapid growth and policy support of terminal vertical industries such as automatic manufacturing, intelligent laboratory, new energy vehicles and consumer electronics in downstream areas have effectively promoted the rapid development of electronic measuring instruments. With the implementation of raised investment projects, the company’s new product capacity and independent R & D capacity will be further released and improved, promote product iteration and technological innovation, expand the company’s main business scale, and improve its core competitiveness and market share.
Changguang Huaxin (a21178. SH): the company focuses on the semiconductor laser industry and always focuses on the R & D, design and manufacturing of semiconductor laser chips. Its main products include high-power single tube series products, high-power bar series products, high-efficiency VCSEL series products and optical communication chip series products. The compound annual growth rates of the company’s revenue and net profit from 2018 to 2020 were 63.53% and 41.55% respectively, with outstanding growth capacity. With the acceleration of domestic substitution in the semiconductor laser industry and the enhancement of the company’s R & D and production capacity promoted by raised investment projects, the company is expected to further improve its industry strength and market position.
Anda intelligence (a21256. SH): the company is mainly engaged in the R & D, production and sales of intelligent manufacturing equipment such as fluid control equipment, plasma equipment, curing and assembly equipment. The compound annual growth rates of the company’s revenue and net profit from 2018 to 2020 were 63.53% and 41.55% respectively, and the growth capacity far exceeded the average level of comparable companies in the same industry. With the continuous development of electronic information manufacturing industry towards high precision, the further deepening of global manufacturing division of labor, and the accelerated transformation and upgrading of China’s electronic information industry, the company is expected to further improve its industry strength and market position through fund-raising projects.
Gem:
Liansheng chemical (a20657. SZ): the company is a high-tech enterprise in the field of special fine chemicals. Its main business is the R & D, production, sales and import and export trade of fine chemicals focusing on pharmaceutical intermediates, pesticide intermediates, electronic chemicals and chemical solvents. The compound growth rates of the company’s revenue and net profit attributable to the parent company from 2017 to 2020 were 16.90% and 98.95% respectively. With the steady growth of China’s economy, the deepening of industrialization and informatization, the adjustment and upgrading of industrial structure, especially the high attention paid by the state to the fine chemical industry and the expansion of downstream application market, China’s fine chemical industry will usher in a broad space in the future. With the implementation of raised investment projects, it will promote the rapid growth of the company’s business scale. Among them, deo, mixed diols, PBS and omcts products will provide new impetus for the company’s future performance growth.
Zhongyi Technology (a20603. SZ): the company is mainly engaged in the R & D, production and sales of all kinds of single and double-sided high-performance electrolytic copper foil series products. The main products are classified according to application fields, including lithium battery copper foil and standard copper foil. The compound annual growth rates of the company’s revenue and net profit from 2017 to 2020 were 32.89% and 29.97% respectively, much higher than the average level of comparable companies in the same industry. The electrolytic copper foil industry has a certain market demand. In the future, the R & D investment of electrolytic copper foil will continue to increase, and the raised investment projects will greatly improve the company’s service capacity, improve product capacity and enhance core competitiveness. The company is expected to further improve its industry strength and market position.
Jindao Technology (a20738. SZ): the company focuses on the industrial vehicle gearbox industry, mainly engaged in the R & D, production and sales of various industrial vehicle gearboxes such as forklifts. The compound annual growth rates of the company’s revenue and net profit from 2017 to 2020 were 13.54% and 13.57% respectively, with good profitability. With the increasing demand for industrial vehicle gearbox, the raised investment project promotes the expansion of existing product capacity, better caters to the electrification trend of forklift industry, expands the company’s business scale, improves the company’s R & D and innovation ability, further develops and improves the existing forklift gearbox technology, and consolidates the company’s market position in the industrial vehicle gearbox industry.
Risk tips: 1) the corresponding companies still have the risk of failure to be listed due to special events; 2) The research is only based on the prospectus (Registration draft) and other public materials of the corresponding company, which can not fully reflect the latest situation of the company.
