1. Reply opinions of the issuer and the recommendation institution (II) (Revised) (Guangdong Hongming intelligent Co., Ltd.)

Reply to the second round examination inquiry letter on the application documents for initial public offering and listing on the gem of Guangdong Hongming intelligent Co., Ltd

Sponsor (lead underwriter)

Address: No. 1, Keyuan South Road, Guancheng District, Dongguan

April, 2002

Shenzhen Stock Exchange:

We have received the second round of examination and inquiry letter on the application documents for initial public offering and listing on the gem of Guangdong Hongming intelligent Co., Ltd. (examination and inquiry letter [2021] No. 011307) (hereinafter referred to as "examination and inquiry letter") issued by your exchange on November 25, 2021. Guangdong Hongming intelligent Co., Ltd. (hereinafter referred to as "Hongming", "issuer", "company") and Dongguan Securities Co., Ltd. (hereinafter referred to as "sponsor"), Beijing Zhide law firm (hereinafter referred to as "issuer's lawyer"), Zhitong accounting firm (special general partnership) (hereinafter referred to as "reporting accountant") and other relevant parties, based on the principles of diligence and good faith, After careful verification and Discussion on the opinions put forward in the audit inquiry letter one by one, the reply is as follows, please review.

Unless otherwise specified, the abbreviation used in this reply has the same meaning as that in the prospectus of Guangdong Hongming intelligent Co., Ltd. for initial public offering and listing on the gem (draft application).

Review the questions listed in the inquiry letter in bold (BOLD)

Reply to the questions listed in the inquiry letter

The contents of application documents such as supplementary disclosure and revised prospectus in the reply are in italics (BOLD)

catalogue

catalogue 31. About business and Technology 42. Enterprises controlled by the actual controller 323. With regard to related parties and related transactions 494. About production capacity and raised funds 805. On revenue recognition 866. About operating income and customers 1007. On the verification of income authenticity 1298. About operating costs and gross profit margin 1499. With regard to period costs 16710. With regard to accounts and notes receivable 17311. With regard to inventory 18112. About taxes 19313. On the verification of capital flow one hundred and ninety-eight

1. About business and technology

The application materials and the previous audit inquiry show that:

(1) The key components of the issuer's automatic packaging equipment, such as servo motor, programmable controller and visual industrial control system, are purchased from abroad. The issuer claims that it focuses on the research and development of machine high-speed conveying and precise positioning, automatic feeding, automatic control and informatization, and the core technology covers high-precision image positioning technology;

(2) The issuer has 261 patents, including 44 invention patents; As of June 30, 2021, the issuer has 48 R & D technicians, accounting for 10.48% of the total number of issuers, and there are only 4 core technicians; The number of invention patents per capita of the issuer's R & D personnel is 0.92 per person, which is much higher than the number of invention patents per capita of comparable listed companies in the same industry before listing;

(3) In terms of product core parameters, there is still a certain gap between the issuer and international manufacturers, mainly through higher cost performance to obtain a certain competitive advantage; Compared with Chinese competitors, the competitive advantage in some product parameters is not obvious.

Please the issuer:

(1) In combination with the production process of the product and the source of key parts, explain the technical difficulties and technical barriers of high-quality packaging box equipment, the difficulty of Listed Companies in other fields of packaging equipment industry (such as food packaging) to enter the issuer's high-quality packaging box field, whether the issuer will face a more fierce competitive environment in the future and the impact on the issuer's production and operation;

(2) Explain the amount, composition and achievements of R & D investment in core technologies such as high-precision image positioning in each year; The strength of the core hardware and software of the automation packaging equipment and the source of related hardware and software, combined with the number of R & D personnel with software background, and the qualifications of R & D personnel, explain the advanced nature of the software and hardware of the product, and match the research and development ability of the issuer.

(3) Further explain the reason and rationality that the number of patents per capita and invention patents per capita is much higher than that of comparable companies in the same industry in combination with the composition of R & D personnel; The reasons and rationality of the core parameters of the product not having obvious competitive advantage compared with Chinese competitors when the number of patents is obvious;

(4) Objectively describe the technical level of the issuer's products, the issuer's R & D strength and continuous innovation ability in the application materials and the reply to the audit inquiry.

[reply]

1、 In combination with the production process of the product and the source of key parts, explain the technical difficulties and technical barriers of high-quality packaging box equipment, the difficulty of Listed Companies in other fields of packaging equipment industry (such as food packaging) to enter the issuer's high-quality packaging box field, whether the issuer will face a more fierce competitive environment in the future and the impact on the issuer's production and operation;

[description]

(I) explain the technical difficulties and technical barriers of high-quality packaging box equipment in combination with the production process of the product and the source of key parts

1. Production process

The production processes of high-quality packaging box equipment mainly include product design, machining, assembly, programming and input. Among them, the process links that can best reflect the technical difficulties and technical barriers of high-quality packaging box equipment are product design, programming and input. The specific circumstances are as follows:

(1) R & D design

The company independently designs the high-quality packaging box equipment. Based on the market demand, through the overall scheme design and review, the task framework of software, hardware and structure development is clarified, and then the functional departments of the company's technology R & D center carry out the detailed design. For the research and development of new models, new processes and new applications of high-quality packaging box equipment, the company has accumulated rich experience and a large number of equipment structure drawings after nearly 20 years of research and development activities, and can quickly complete the product design that can meet the needs of customers. The above experience and drawings are acquired by the company through induction, summary and accumulation in the long-term R & D practice of high-quality packaging box equipment, which is difficult to replicate and technically difficult.

The core components of high-quality packaging box equipment mainly include box blank gluing parts, gluing parts, suction and delivery paper parts, positioning parts and forming parts. Each core component is a necessary part to realize the automatic production of high-quality packaging box. The company has obtained 264 patents for the shape, structure and purpose of the main components of each core component; For the software system of each core component, the company has obtained 62 software copyrights. In the R & D and design process of high-quality packaging box equipment, the company can directly carry out the development and technical upgrading of new models on the basis of long-term accumulated experience, structural drawings, patents and software copyrights. It is difficult for other enterprises to break through the 264 patented technologies and 62 software copyrights obtained by the company in a short time.

Therefore, the company has strong technical barriers in the R & D and design of high-quality packaging box equipment. (2) Programming and input

A large number of software control programs need to be compiled and entered in the high-quality packaging box equipment, which is the key to ensure the safety and effectiveness of the equipment. The high-quality packaging box equipment uses a large number of parts and sensors, and the system structure is complex. The control system needs to coordinate and control the operation of each subsystem, realize the management and control of action sequence, box making mode and functional modules in the production process of high-quality packaging box, and accurately control the glue viscosity and temperature, forming size, positioning accuracy, box making mode and other parameters. The equipment needs to have a perfect alarm system, In case of abnormal conditions, ensure the safety of the operator and provide human-computer interaction in various states. These core software of the company are the R & D achievements summarized according to the experience of the company's high-quality packaging box equipment in recent 20 years, which requires a lot of R & D investment and technical accumulation, and has high technical difficulty.

Part of the control software of the company's high-quality packaging box equipment has formed core technologies such as multi-mode molding box making technology and parametric intelligent adjustment technology. It has certain technical barriers to apply for and obtain relevant software copyright. The software copyright corresponding to each main functional component is as follows:

Serial number feature software copyright

Box blank gluing Hongming machine bevel box angle control Software v1 0 (2019sr1452712). Hongming machine tape length 1 component setting control Software v1 0 (2020sr0 Suofeiya Home Collection Co.Ltd(002572) ), control software of Hongming automatic ash sorting machine v2 0 (2019sr0493658). Hongming corner pasting machine control Software v1 0 (2020sr1173013), etc

Hongming machine gluing mode operation control Software v1 0 (2019sr1017832). Hongming machine glue adhesion 2 gluing part degree calculation control Software v1 0 (2020sr0 Jilin Jian Yisheng Pharmaceutical Co.Ltd(002566) ). Hongming machine glue spraying mode control Software v1 0 (2019sr1018666). Hongming machine six channel temperature control Software v1 0 (2019sr1022410). Hongming machine temperature and Humidity Control Software v1 0 (2020sr0 Yotrio Group Co.Ltd(002489) ), etc

Hongming Machine Fault Alarm Software v1 0 (2019sr0936855). Hongming machine paper feeding interval setting control 3 suction and feeding surface paper making Software v1 0 (2020sr0 Chow Tai Seng Jewellery Company Limited(002867) ), Hongming machine glue blocking Control Software v1 0 part (2020sr Shenzhen Agricultural Products Group Co.Ltd(000061) 8), Hongming machine data output monitoring Software v1 0 (2019sr0930309), Hongming pasting machine control Software v1 0 (2019sr0740317), etc

Hongming paper positioning control Software v2 0 (2019sr0486399). Hongming machine vision cross mark fixed 4 positioning part position control Software v1 0 (2019sr0740249). Hongming machine vision complex plane edge corner positioning control Software v1 0 (2019sr0736258). Hongbo horizontal multi joint manipulator control Software v1 0 (2017sr262305). Hongming machine safety protection control Software v1 0 (2020sr1172645), etc

Hongming molding machine control Software v1 0 (2019sr0740211). Hongming machine conjoined box forming control Software v1 0 (2020sr0434897), Hongming box making machine formula production control software 5 molding part v1 0 (2019sr0977021). Hongming machine book cover box forming control Software v1 0 (2020sr0434669). Hongming machine forming automatic mold change control Software v1 0 (2019sr1022408). Hongming box making machine deep folding control Software v1 0 (2020sr0433445), etc

2. Key parts

The company's automatic packaging equipment is mainly composed of box blank gluing parts, gluing parts, suction and delivery paper parts, positioning parts and forming parts. Each part is also composed of Feida cam mechanism, silk screen gluing mechanism and other key parts formed by a wide variety of standard parts, non-standard parts, electrical components and other raw materials through assembly and other processes, and embedded software. The technical difficulties and technical barriers of key parts are as follows:

Technical difficulty and technical barrier of key parts

(1) Due to the small thickness and size of the face paper for the production of high-quality packaging boxes, the surface is covered with film and has static electricity, so the Feida suction and delivery face paper is easy to come out

Two or more sheets are sucked at a time, and the surface of tissue paper is curled. In order to solve the above problems, the company has adopted the trigger. The company has obtained a suction cup face paper feeding mechanism and a suction turnover paper suction structure. After the suction cup sucks the front end of the face paper, it can automatically turn 90 ° paper and turnover mechanism by using the pressure difference inside and outside the paper suction cavity, And Hongming machine moving Feida convex machine to separate the upper and lower paper; Trajectory Operation Control Software v1 0. Hongming machine glue blocking control mechanism (2) in order to achieve the production target of 48pcs / min, Feida needs to transport 48 sheets of tissue paper per minute, and the conveying speed of tissue paper is higher than that of Software v1 0 and other software copyrights, with high speed, prone to unstable phenomena such as paper falling. The company adopts self-designed series cam structure, which can accurately control technical barriers.

The sequence and time parameters of each action of facial paper suction and delivery can reduce the impact force of Feida during high-speed operation and ensure the suction and delivery surface of Feida

Smoothness and stability of paper process.

In order to realize the three-dimensional feeling and exquisite degree of the surface of the high-quality packaging box of mobile phones and other electronic products, the card needs to be pasted on the face paper, and the card pasting position company has formed technologies such as silk screen printing and local gluing, so it is necessary to realize local gluing. The traditional roller glue passing method can only pass the whole surface

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