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”) is entrusted by Changzhou Xiangming Intelligent Power Co., Ltd. (hereinafter referred to as “Xiangming intelligent” or “the issuer”) to act as the sponsor of Xiangming intelligent’s initial public offering of shares and listing on the gem (hereinafter referred to as “this securities offering” or “this offering”), Issue 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 the Shenzhen Stock Exchange, are honest, trustworthy, diligent and responsible, and issue the listing recommendation letter in strict accordance with the business rules, industry practice norms and ethical standards formulated according to law, And ensure the authenticity, accuracy and completeness of the documents issued.
Unless otherwise specified in this listing recommendation, 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 9 Section 2 basic information of this offering 14. Overview of this issue 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 issuance conditions stipulated in the securities law 19 III. The issuer meets the issuance conditions specified in the measures for initial registration of gem 19 IV. The issuer meets the listing conditions specified in the Shenzhen Stock Exchange GEM Listing Rules (revised in 2020) V. the sponsor’s concluding comments on the issuer’s stock listing Section 5 work arrangement for continuous supervision after securities issuance and listing twenty-three
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. On this basis, it has carried out independent R & D and 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:
Sequential Technology
Technology name innovation mode technology content
Number source
Based on the different characteristics of assembly language and C language, according to the motor operation and control model, scientific mixed programming strategy and expression mode are adopted to form the direct independent original innovation of mixed programming of company language
1 unique program core of intelligent control of Brushless DC motor.
Integrated innovation of internal control research and development of brushless motor with program language flow
Strong expression ability, fine and reliable control strategy, and control instruction execution program technology during operation
Fast travel speed and less resource occupation
Based on DSP technology, accurate motor model, frequency phase shift control and various advanced control strategies based on DSP technology are adopted to realize accurate execution of external control instructions and internal independent original innovation
2-stream brushless motor intelligent real-time adaptive. Based on the internal Wuxi Smart Auto-Control Engineering Co.Ltd(002877) , external control execution and R & D Integration Innovation of the motor
Technology, internal and external digital communication and a series of technologies to further realize the remote control and intelligent and digital operation mode of motor application
The motor cluster control software represented by FFU fan monitoring system software can remotely monitor up to 10800 FFU single large-scale fan units through RS485 bus, which can not only reflect the operation status of FFU units in real time (including speed autonomy and various faults), but also carry out remote control, Realize the original technical innovation of time-sharing and 3-group control application software
R & D zones implement different control plans and strategies. Provide rich scene design
The monitoring function helps 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 been
Up to 40000 control units
Based on the software platform of cluster monitoring system and the independent use of motor cluster control network for motors (fans) of different sizes, it is integrated and innovated with the upper and lower computers, special repeaters and 4 through RS485 bus
Research and develop the connection of switches and other computer and network equipment to realize remote monitoring. Different scale group control systems adopt different levels of topology
XM intelligent motor control autonomy this technology is based on Xiangming intelligent motor built-in DSP and control program, communication 5 original innovative interface and external network system and control center computer system. Complete the research and development of intelligent 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 co simulated based on the finite element analysis, comprehensively considering the overall electrical and electromagnetic performance of the motor. Progressive autonomy
6. The optimization calculation of motor design integrates the systematic design optimization of motor body and drive control. Product development under specific working conditions
Computer simulation technology, personalized parameter setting of finite element analysis, correlation analysis, detail optimization and other related technologies
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 the autonomous control of smart fan cluster control (mainly related to speed, operation and safety), and provides corresponding pipe 7 original innovation
Technology development, management, recording and alarm functions. Through small-scale field controller mode (monitoring and managing up to 90 motors) and compatible with “scindy” system
