On May 19, the official website of the CSRC disclosed the IPO prospectus (application draft) of Shenzhen Main Board of Chizhou Huayu Electronic Technology Co., Ltd. The company plans to issue no more than 21.15 million shares and raise 627 million yuan to invest in the following projects: Chizhou advanced packaging and testing industry base construction project, Hefei integrated circuit testing industry base large-scale wafer testing and chip finished product testing project, Chizhou technology R & D center construction project and supplementary working capital. The sponsor is Huachuang securities.
The company is mainly engaged in integrated circuit packaging and testing business. Its main business includes integrated circuit packaging, wafer testing and chip finished product testing. During the reporting period, the company has established long-term and stable cooperative relations with well-known enterprises at home and abroad, such as Shanghai Belling Corp.Ltd(600171) , Puya Semiconductor (Shanghai) Co.Ltd(688766) , Jichuang north, Zhongke Lanxun, Huaxin micro, Hangzhou Jinghua micro, yingjixin, Juxin technology, Byd Company Limited(002594) , Taiwan Tongtai, Taiwan Tianyu Technology, Korea abov and so on. From 2019 to 2021, the company achieved operating revenue of 223 million yuan, 321 million yuan and 563 million yuan respectively, with an average annual compound growth rate of 58.96% from 2019 to 2021.
In this raised investment project, the construction project of Chizhou advanced packaging and testing industrial base is planned to have a total investment of 205 million yuan and a construction period of 3 years. The main construction contents of the project include site purchase, decoration investment and equipment investment. After the construction is completed, the packaging and testing capacity will be increased by 792 million pieces / year. The company's production capacity will be further expanded, the company's product structure will be optimized and the company's product series will be enriched. The company expects that the project will fully reach the production capacity in the fifth year after the project is put into operation, and will realize an average annual operating income of 220 million yuan, the after tax financial internal rate of return is 14.91%, and the after tax payback period (including construction period) is 6.85 years.
Hefei integrated circuit testing industry base's large-scale wafer testing and chip finished product testing project is planned to have a total investment of 202 million yuan (including tax) and a construction period of 3 years. The main construction contents of the project are site purchase, decoration and test equipment investment. After the construction is completed, the test capacity of wafer will be increased by 456000 pieces / year and the test capacity of finished chip products will be 1.2 billion pieces / year, so as to meet the needs of customers for large-scale IC R & D testing and mass production testing. The company expects that the project will reach full production in the fourth year after the project is put into operation. After the project is fully completed, it will realize an average annual operating income of 649646 million yuan, the after tax financial internal rate of return is 13.95%, and the after tax payback period (including construction period) is 6.87 years.
The total investment of the construction project of Chizhou technology R & D center is 499315 million yuan and the construction period is 2 years. The project is based on the company's existing core technology of packaging and testing, and carries out R & D on cutting-edge and mainstream technology topics related to IC packaging and testing industry. The project will comprehensively integrate and upgrade the company's existing R & D resources by building a new R & D building, purchasing advanced software and hardware equipment required for the R & D of IC sealing and testing technology, and introducing professional and technical talents in the industry.
In addition, the company plans to use 170 million yuan of the raised funds to supplement working capital.
The company said that in the future, the company will continue to take the downstream market demand as the guide, expand the scale of advanced integrated circuit packaging test and medium and high-end packaging test, and provide customers with high-quality products and services; At the same time, the company will increase investment in technology research and development, strengthen the research on advanced packaging and testing technology and cutting-edge integrated circuit technology, improve the company's independent R & D and innovation ability, strengthen the company's technology R & D advantages and improve the company's market competitiveness.
