Sichuan Zhongtai United Design Co., Ltd. (24 / F, unit 1, building 2, No. 99, Jinhui West 1st Street, high tech Zone, Chengdu)
Reply to the third round of examination and inquiry letter on the application documents for initial public offering and listing on the gem of Sichuan Zhongtai Joint Design Co., Ltd
Sponsor (lead underwriter)
(address: No. 1, Keyuan South Road, Guancheng District, Dongguan City)
Shenzhen Stock Exchange:
We have received the third round of examination and inquiry letter on the application documents of Sichuan Sino Thai joint design Co., Ltd. for initial public offering and listing on the gem (audit letter [2022] No. 010088) (hereinafter referred to as the “third round of examination and inquiry letter”) issued by your office on January 18, 2022. Sichuan Zhongtai United Design Co., Ltd. (hereinafter referred to as “the company”, “the company”, “the issuer”, “Zhongtai design”) and Dongguan Securities Co., Ltd. (hereinafter referred to as “sponsor”, “lead underwriter”, “Dongguan securities”), Beijing Deheng Law Firm (hereinafter referred to as “issuer lawyer”, “Deheng”) Daxin Certified Public Accountants (special general partnership) (hereinafter referred to as “accountant”, “Daxin”) and other relevant parties have checked the questions listed in the third round of audit inquiry letter item by item. Now the reply is as follows. Please review.
Unless otherwise specified, the abbreviation used in this reply is the same as the interpretation in the prospectus of Sichuan Zhongtai Joint Design Co., Ltd. for initial public offering and listing on the gem (application draft).
Review the questions listed in the inquiry letter in bold (BOLD)
Answer to question
Modification and supplement of this feedback (BOLD)
Amendments and supplements to the prospectus (BOLD)
catalogue
Question 1 About gem positioning 4 question 2 About hengdafang’s debt repayment 11 question 3 About accounts receivable, notes receivable 17 question 4 Financial information and operating conditions after the audit deadline twenty-nine
Question 1 About gem positioning
The reply to the review and inquiry shows that the issuer is mainly engaged in creative design consulting and whole process technical services related to architectural design, and its business scope includes conceptual design, scheme design, preliminary design, construction drawing design, construction cooperation and later services.
The issuer is requested to disclose in detail and quantitatively the characteristics of the issuer’s “three innovations and four innovations” in combination with its growth and per capita output value, R & D capacity and R & D expenses, core technology and its application prospects, customer structure, etc; Whether it meets the relevant requirements on the positioning of the gem in the Interim Provisions on the issuance and listing application and recommendation of gem enterprises of Shenzhen Stock Exchange.
The sponsor is requested to express clear opinions on the verification opinions and relevant basis on whether the issuer belongs to a growth innovation and entrepreneurship enterprise and whether it meets the positioning of the gem.
[issuer’s reply]
1、 The characteristics of “three innovations and four innovations” of the issuer shall be disclosed in detail and quantitatively in combination with the growth and per capita output value, R & D capacity and R & D expenses, core technology and its application prospects, customer structure, etc; Whether it meets the relevant requirements on the positioning of the gem in the Interim Provisions on the issuance and listing application and recommendation of gem enterprises of Shenzhen Stock Exchange.
The issuer has supplemented, revised and disclosed the following in “v. innovation, creation, creative characteristics, scientific and technological innovation, model innovation, business innovation and integration of new and old industries” of “section II Overview” of the prospectus:
(I) the company does not belong to the industry specified in the “negative list” in Article 4 of the Interim Provisions on the issuance and listing application and recommendation of gem enterprises of Shenzhen Stock Exchange
The company’s main business is creative design consulting and whole process technical services related to architectural design. The architectural design industry belongs to both the creative attribute of cultural and creative industry and the innovative attribute of engineering technology industry. According to the classification of culture and related industries (2018) issued by the National Bureau of statistics in May 2018, architectural design services belong to the category of “03 creative design services”, “032 design services” and “0321 architectural design services”. The company’s main business architectural design business belongs to creative design services, with distinct attributes of innovation, creation and creativity. At the same time, according to the industry classification guidelines for listed companies (revised in 2012), the industry in which the company is located belongs to the “M74 professional and technical service industry” and does not belong to the industry specified in the “negative list” in Article 4 of the Interim Provisions on the issuance and listing application and recommendation of gem enterprises of Shenzhen Stock Exchange.
(II) the company has the growth potential stipulated in Article 2 of the Interim Provisions of Shenzhen Stock Exchange on the issuance and listing application and recommendation of gem enterprises
During the reporting period, the business scale of the company continued to expand and the operating revenue continued to rise. The revenue of the company was 350515 million yuan, 3922203 million yuan and 4134274 million yuan respectively, increasing year by year, and the compound growth rate in 2021 was 8.60% compared with 2019; During the reporting period, the net profits attributable to the shareholders of the parent company were 519726 million yuan, 695785 million yuan and 747339 million yuan respectively, with a compound growth rate of 19.91% in 2021 compared with 2019; The per capita output value of the company’s designers in 2021 was 482400 yuan, an increase of 37.08% over 2019. The company’s operating income, net profit, per capita output value and other main indicators related to operation show a rapid growth trend and have good growth.
At the same time, the company has established good partnership with top 100 real estate development enterprises such as rongchuang, China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) , Greentown and OCT, which has been widely recognized by well-known customers in downstream China. On the basis of maintaining a stable and long-term cooperative relationship with existing high-quality real estate customers, the company further strengthens the development of new customers, further deepens the cooperation with China’s leading large-scale construction enterprises, especially state-owned large and medium-sized development enterprises or non real estate enterprises, expands the business field of the company and realizes the sustainable growth of performance.
(III) the company has the characteristics of “three innovations and four innovations” in the Interim Provisions on the issuance and listing application and recommendation of gem enterprises of Shenzhen Stock Exchange
1. The company has the ability of innovation, creativity and creativity
The company’s innovation, creativity and creativity are mainly reflected in creative design ability and design application software development ability.
(1) The company has strong creative design ability
Different from the standardized product output of the productive industry, behind each design work of the company is the unique design concept and spatial expression of the designer team, which is the technical realization of its design experience and creativity. Therefore, the creative expression of architectural design products is directly related to the creative level of the designer team.
The company has built a high-quality design and management team with strong technical strength, perfect structure and reasonable echelon, so as to ensure that the company can continuously complete excellent design works. From 2019 to 2021, the average number of directors and senior designers accounted for 16.77%, 18.24% and 18.90% respectively, showing an upward trend year by year; From 2019 to 2021, the proportion of designers with bachelor degree or above accounted for 87.95%, 88.60% and 88.92%, maintaining a steady growth. By the end of the reporting period, the company had 33 registered personnel such as first-class registered architect, second-class registered architect and first-class registered structural engineer, and 136 designers with various middle / senior engineer titles in architecture, structure, water supply and drainage, HVAC and electrical disciplines; Among the employees of the company, there are 1 honorary professor in Colleges and universities, 6 visiting professors, 4 experts from Sichuan Provincial Department of housing and urban rural development, 2 members of Sichuan Provincial Youth Committee for green building and energy conservation, 1 expert from Sichuan provincial expert committee for fire protection design, and 3 experts from Sichuan Provincial Advisory Committee for high-quality development of real estate industry, One deputy director of the planning and Design Committee of Chengdu real estate development enterprise association.
After years of business practice, the issuer’s Jinyu jinchengfu project, Xinli Dongyuan project and other design projects have won golden sector award, Meishang award and other awards, and won a good industry reputation; At the same time, the company also won the “high-quality supplier” of Jinyu in 2020, the “best service cooperation Award” of pattern in 2020, the “excellent supplier” of humon Shuanglin in 2020, the “excellent architectural design unit in 2019” of Jinke, the “best service award in 2019” of Greentown, and the “excellent architectural design unit” of Jinke western region A series of customer awards, such as “the star of architecture most loved by German customers in 2019”, Peking University resources Hunan “excellent supplier”, territory “2019 best Cooperation Award”, Evergrande “2018 excellent design service award”, territory “2018 excellent strategic cooperation unit”, have been widely recognized by well-known customers in downstream China.
(2) The company has strong design application software development ability
Based on the deep understanding of the architectural design industry and the working experience accumulated from long-term design consulting, the company has developed an integrated design management system – Sino Thai design cooperation system V1, which fits the production, improves efficiency and ensures quality 0 and Sino Thai design architectural design plan task management system v1 0 According to the requirements of the architectural design industry and the characteristics of architectural design business, the secondary development is carried out on the Autodesk platform to develop application software such as design efficiency tools and standardization tools suitable for the characteristics of the architectural design industry, which can adapt to the current mainstream design software, so as to improve the design efficiency and design quality. As of December 31, 2021, The company has formed 27 computer software copyrights. At the same time, relying on the current technical achievements, the company has formed a Zhijie architectural design comprehensive management platform specially suitable for small and medium-sized design companies to solve the information transformation problems faced by small and medium-sized design companies, hoping to help architectural design enterprises improve work efficiency and design quality, It is expected to promote the improvement of information management level of the whole architectural design industry.
(3) Technological innovation and R & D are the core driving force to promote the development of the company. The company’s technological innovation and R & D are directly related to the projects being implemented and are directly included in the project cost. During the reporting period, the company did not separately calculate the R & D expenses. Relevant R & D achievements provide strong support for the long-term development of the company.
2. The company’s core technology promotes the improvement of innovation, creativity and creativity
The core technology of the company is embodied in the innovation and stable output ability of scheme design, the construction and application ability of construction drawing design standardization system, the application ability of green building technology, the application ability of BIM Technology, the application ability of prefabricated building technology, etc.
(1) Scheme design innovation and stable output capacity
In the scheme design stage, the core technology of the company is to integrate the scheme creation ability and design creative concept into the design works, realize the effective integration of creativity and innovation, art and technology, and finally implement and form architectural design works. In order to ensure the innovation of the company’s scheme, the company continues to absorb new technologies, new processes and new ideas, integrate multi field design and development technologies, so as to improve the creative conception ability and specific design expression methods of the designer team, extend the design and creation space, and open up greater possibility of scheme innovation.
At the same time, in order to realize the full play of the individual creative innovation ability of the core designer to the overall output of the company’s high-quality creative innovation. Based on the design practice of a large number of projects of the same type, the company summarizes the commonalities of projects of this type, combines the hot market demand, forms the R & D achievements with summative and market foresight, and forms the design application-oriented technology or standardized technical scheme with strong operability in line with the market demand to a certain extent, And establish standard models and styles of various design products and corresponding design technical systems and standardization documents, so as to improve design efficiency and ensure the quality of design results and the stable output of creative innovation, such as house type standardization research, improved housing product standardization model research, vacation product standardization model research, standard drawing research, etc.
(2) Construction and application ability of construction drawing design standardization system
In the construction drawing design stage, the company’s core technology is reflected in transforming and precipitating the same type of project practice and design experience into a standardized and systematic design technology system and standardized documents, and then coordinating in the production process, including architecture, structure, equipment, landscape The technical personnel of interior and other disciplines will convert the results of the scheme design into specific drawings for the construction unit to refer to and implement, so as to realize the comprehensive coordination of architecture and structure. In this process, based on the principles of modularization, standardization, digitization and informatization, the company reconstructs the design and production process into several standardized modules, and controls the production and quality of design products by relying on the digital information platform software, so as to achieve efficient and high-quality product output in the project design process control system formulated by the company. (3) Application ability of green building technology
The company actively responded to the national strategy of “carbon peaking and carbon neutralization”, strengthened the research on key technologies such as low-carbon, green and emission reduction in the construction field, and helped to achieve the goal of “carbon peaking and carbon neutralization” in the construction field. In the field of green buildings, the company implements the concept of green, low-carbon and sustainable development in the whole process of design, actively explores the application of green building materials, explores the application of prefabricated buildings in green buildings, and explores the use of sunshine and other natural factors to achieve the goal of energy conservation and consumption reduction through design means, so as to truly realize the purpose of reducing “carbon emission”. Members of the green building design team of the company have rich experience in green building design consulting, building energy conservation, operation and maintenance, building green transformation and implementation. Follow the principles of adjusting measures to local conditions, economic applicability, safety and efficiency, and have the ability to provide technical services in the whole process from project planning, design, detection to operation management. At present, the company is one of the first enterprises to obtain the “Sichuan green building technology consulting service organization” in Sichuan Province. It has two members of Sichuan green building and energy saving Youth Committee, and has successively completed many representative green building projects such as “rongchuang · jiuque house” and “Jinyu · Jincheng house”.
(4) BIM Technology Application Capability
BIM Technology is widely used in projects related to the company’s main business. In the field of BIM Technology, based on the BIM model, the company develops a digital system including functional modules such as design management, cost management, engineering management, safety and quality management and resource management, so as to help customers realize the information management of project construction and intelligent operation and maintenance in the later stage, and realize the BIM application in the whole life cycle of the building. At the project design stage
