Minsheng Securities Co., Ltd
About Changzhou Xiangming Intelligent Power Co., Ltd. IPO and listing on GEM
of
Listing recommendation
Sponsor (lead underwriter)
(No. 8, Puming Road, China (Shanghai) pilot Free Trade Zone)
March, 2002
Statement
Minsheng Securities Co., Ltd. (hereinafter referred to as "Minsheng securities", "the company" or "the sponsor") accepts the entrustment of Changzhou Xiangming Intelligent Power Co., Ltd. (hereinafter referred to as "Xiangming intelligent" or "the issuer"), Acting as the sponsor of Xiangming intelligence's initial public offering and listing on the gem (hereinafter referred to as "this securities offering" or "this offering"), and issuing a listing recommendation letter for this offering.
In accordance with the company law of the people's Republic of China (hereinafter referred to as the "company law"), the securities law of the people's Republic of China (hereinafter referred to as the "Securities Law"), and the law on the administration of the registration of initial public offerings on the gem (for Trial Implementation) (hereinafter referred to as the "measures for the registration of initial public offerings on the gem") The Shenzhen Stock Exchange GEM Listing Rules (revised in 2020), the measures for the administration of securities issuance and listing recommendation business and other relevant laws and regulations, as well as the relevant provisions of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") and Shenzhen Stock Exchange, are honest, trustworthy, diligent and responsible, and in strict accordance with the business rules formulated according to law The industry practice norms and ethical standards shall issue the listing recommendation letter, and ensure the authenticity, accuracy and integrity of the documents issued.
Unless otherwise specified in this listing recommendation letter, relevant terms have the same meaning as in the prospectus of Changzhou Xiangming Intelligent Power Co., Ltd. for initial public offering and listing on the gem.
catalogue
Declare that Section 1 basic information of the issuer 3 I. overview of the issuer 3 II. The issuer's main business, core technology and R & D level 3. Main operating and financial data and financial indicators of the issuer 8 IV. main risks of the issuer 8 section 2 basic information of this offering 14 I. overview of this offering 14 II. Introduction of the sponsor, sponsor representative, CO sponsor and other members of the project team 15 III. description of whether the recommendation institution has any circumstances that may affect the fair performance of its recommendation duties Section III commitments of the sponsor Section IV recommendations on the issuance and listing of Securities 18 I. the decision-making procedures of the Issuer on this securities issuance 18 II. The issuer meets the listing conditions stipulated in the Shenzhen Stock Exchange GEM Listing Rules (revised in 2020) 19 III. The sponsor's concluding comments on the issuer's stock listing Section V work arrangement for continuous supervision after securities issuance and listing twenty
Section 1 basic information of the issuer
1、 Issuer profile
Company name: Changzhou Xiangming Intelligent Power Co., Ltd
English Name: Changzhou Xiangming Intelligent Drive System Corporation
The registered capital is 51 million yuan
Legal representative: Zhang Min
Date of establishment of the company: December 22, 1995
Date of incorporation: June 12, 2016
Address: No. 518, Zhongwu Avenue, Changzhou
Postal Code: 213011
Tel.: 051988389998
Fax: 051988390306
Internet address http://www.xiangming.com.
E-mail [email protected].
The Department responsible for information disclosure and investor securities relations
Department head Wang qinping
Tel: 051988388769
2、 Main business, core technology and R & D level of the issuer (I) main business of the issuer
The company is mainly engaged in the R & D, production and sales of micro and special motors, fans and intelligent components, and provides customized, intelligent and modular components and overall solutions for customers in HVACR (heating, ventilation, air conditioning, purification and refrigeration), transportation vehicles, communication systems, medical and health industries. It is a high-tech enterprise with independent R & D and innovation ability.
With years of profound technical accumulation, excellent product quality and fast response service system, the company can better respond to the changing downstream market demand. Its main customer groups include many large enterprises with strong industrial influence in furniture industry at home and abroad, such as Qingdao Hisense, Valeo, Panasonic, Tianjia environment, etc.
The company's main products are divided into two categories. The first category is micro and special motors, including three series of AC asynchronous motors, DC brushless motors and DC brushless motors; The second category is fans, including centrifugal fans, cross flow fans, axial flow fans and special customized fans. (II) core technology and R & D level of the issuer
The company attaches great importance to basic technology research and technology application research. Since its establishment, the company has set up a R & D department to actively track and study the advanced technology of micro and special motor industry at home and abroad. Through years of introduction, learning and continuous accumulation, the company has rich experience in R & D, design and manufacturing, and carries out independent R & D on this basis, Formed a series of core technologies unique to the company. At present, the company's core technology mainly comes from independent research and development. The main core technologies are as follows:
Sequence technology name technology innovation mode technology content
Number source
Based on the different characteristics of assembly language and assembly language and C language, according to the C-control model of motor operation and control, scientific mixed programming strategy and expression mode are adopted to form the program core of direct independent original innovation and unique intelligent control of Brushless DC motor with mixed programming of company language.
Integrated innovation of internal control research and development of 1-stream brushless motor with program language
The system has the characteristics of strong expression ability of program technology, fine and reliable control strategy, fast execution speed of control instructions during operation, less resource occupation and so on
Based on DSP technology, accurate motor model, frequency phase shift control and various advanced control strategies of direct independent innovation based on DSP technology are adopted to realize accurate execution of external control instructions and internal 2-stream brushless motor intelligent R & D, integrated innovation and real-time adaptation. Based on a series of technologies such as Wuxi Smart Auto-Control Engineering Co.Ltd(002877) , external control execution and internal and external digital communication, the remote control and intelligent and digital operation mode of motor application are further realized
The motor cluster control software represented by FFU fan monitoring system software can remotely monitor up to 10800 FFU units through RS485 bus, It can not only reflect the operation status of FFU unit in real time (including the autonomy of speed large-scale fan unit and various faults), but also carry out remote control, realize time-sharing and three group control application software technology research and development, and implement different control plans and control strategies in the original innovation zone. Provide rich scene design functions to help users build their own monitoring interface conveniently and quickly. In addition, the software also provides humanized management functions, detailed records, and timed task functions that can meet the needs of energy saving. At present, the latest version of the software has reached the scale of 40000 control units
Based on the software platform of cluster monitoring system and the independent integration and innovation group of motors (fans) of different sizes, the motor cluster control network shall be connected with computers and network equipment including upper and lower computers, special repeaters, 4-architecture technology R & D switches and so on through RS485 bus to realize remote monitoring. Different scale group control systems adopt different levels of topology
Intelligent motor control autonomy this technology is based on Xiangming intelligent motor built-in DSP and control program, communication XM original innovative interface and external network system and control center computer system. Complete the research and development of intelligent 5-system communication protocol technology
Realization of motor external control function and data exchange
Based on the finite element analysis platform, the design of permanent magnet brushless DC motor and other products is carried out based on the independent collaborative simulation of finite element analysis, taking into account the overall electrical and electromagnetic performance of the motor. Design optimization and calculation of 6-step motor, R & D integration and innovation, and systematic design optimization of motor body and drive control. Product machine simulation technology under specific working conditions, personalized parameter setting, correlation analysis, detail optimization and other related technologies of finite element analysis
The technology includes two parts: hardware and software. Based on Xiangming FFU communication protocol, it realizes the monitoring of motor application unit (fan unit) group and monomer and smart fan cluster control, independent original innovation control (mainly involving speed, operation and safety), Provide corresponding management 7 technology research and development, recording and alarm functions. Intelligent monitoring of the two systems can be realized through small-scale field controller mode (monitoring and managing up to 90 motors) and repeater mode compatible with "scindy" system (connecting up to 60 motors)
The field oriented control technology foc (field oriented control) is applied to the original innovation of DC brushless power research and development based on the field oriented control independent of DC brushless motor and replacing the positioning party 8 technology of DC brushless Hall position sensing. Dynamically track the rotor position of the motor to achieve the best drive and realize the best working efficiency of the wide machine control technology load range of the motor. The 16KHz PWM modulation frequency is used to sample and analyze the data, and the motor drive is controlled according to the calculation results of field oriented control
