Today, Anhui xinruida Technology Co., Ltd. (hereinafter referred to as “xinruida”) announced its intention to be listed on the Shenzhen Stock Exchange, with no more than 35.42 million RMB common shares (A shares), accounting for no less than 25% of the total share capital after the issuance. The stock is referred to as “core Ruida” with the stock code of “002983”.
The main products are backlight module photoelectric system and health intelligent light source system, which are mainly used in LCD TV, business display, education display and other terminal fields.
According to the prospectus, Sunray has carried out research and development projects of many cutting-edge technologies and major government projects, such as quantum dot display technology, HDR display technology, mini LED display technology, micro LED display technology, blue light elimination and eye protection display technology.
In 2019, CIRDA completed the research and development, sample and trial production of quantum dot display technology. The ultra-thin high color gamut quantum dot regional dimming flat panel display technology has been applied to Huawei’s smart screen project, and the market feedback is good; the research and development and sample work of HDR display technology and mini display technology have been completed, and the relevant products have been trial produced in small batch. It is expected to complete the development of HDR display technology and mini display technology in 2020 Mass production and marketing of terminal products, and promote the research and development of on-board display technology and blue light eye protection display technology.
In addition, core Ruida has passed the audit system of Samsung Electronics, Hisense, Skyworth, Changhong, TCL, sharp, Xiaomi, Seoul semiconductor, Foxconn, lumens and other well-known consumer electronics enterprises at home and abroad, as well as intelligent education display product manufacturers such as Honghe technology, and has become its qualified supplier.
In 2019, xinruida achieved a revenue of 522.646 million yuan and a net profit of 93.5127 million yuan, with an increase of 3.08% and 27.23% respectively, with good profit and cash flow.
Affected by the epidemic situation, in the first quarter of 2020, xinruida is expected to achieve a revenue of 65-68 million yuan, a year-on-year decrease of 21.39% – 24.85%, and an estimated profit of 6.5-6.8 million yuan, with a year-on-year decrease of 21.51% – 24.97%.
Xinruida said that the company’s business areas were generally less affected by the epidemic. Due to the change of consumption habits brought about by the epidemic, new display industries such as educational display, business display and security monitoring will also usher in new growth.
At present, the company’s customer orders are normal, in terms of technology, products, market, core team has not been adversely affected by the epidemic. However, due to the policy arrangement of delaying and returning to work in batches caused by the epidemic, the resumption rate of issuers after the Spring Festival is not high, and the production and manufacturing links have been affected to a certain extent. Some orders will be delayed after communicating with customers.
In 2020, core Ruida will further enhance its core competitiveness in technology research and development, product innovation, customer development and core team, and focus on expanding emerging products such as vehicle display and health intelligent lighting, so as to improve the profitability and eliminate the negative impact caused by the epidemic.
It is worth noting that the public offering of xinruida will raise 425905400 yuan to invest in the expansion project of new flat panel display backlight device, LED lighting device expansion project, R & D center construction project and supplementary operating funds.
Among them, the new flat panel display backlight device expansion project plans to build a backlight module photoelectric system production workshop, purchase advanced production equipment, assembly equipment, various detection equipment and safety and environmental protection supporting equipment, and build 20 direct down backlight module photoelectric system production lines.
The project is expected to reach the production capacity of 50% in T + 2, 80% in T + 3 and fully in T + 4. The implementation of the project will greatly improve the automation and intelligence level of the company’s production, solve the company’s current capacity bottleneck, reduce the proportion of outsourcing production, and realize the independent production of main raw material display light source and optical lens, and enhance the market competitiveness of the company. It is estimated that the annual production capacity of 67.2 million pieces of direct down backlight module photoelectric system can be realized after the project is fully put into production.
LED lighting device expansion project plans to purchase advanced automatic production equipment, assembly equipment, testing equipment and safety and environmental protection supporting equipment, and build 20 automatic health intelligent lighting product production lines. The project products include health intelligent eye protection table lamp, intelligent ceiling lamp, panel lamp, lamp tube products, bulb lamp products and lighting products in other subdivided fields.
The project is expected to reach 50% in T + 2, 80% in T + 3 and fully in T + 4. The implementation of the project will greatly improve the automation and intelligent production level of the company’s lighting products, improve the production efficiency and production process, expand the production capacity and market share of lighting products, enrich the types of lighting products, promote the continuous growth of healthy and intelligent lighting business, and explore new opportunities for the company Profit growth point. The project is expected to achieve an annual production capacity of 36 million pieces.
Xinruida said that the implementation of the fund-raising investment project will make the company’s industrial chain expand horizontally and vertically, which will help the company enrich its products and business structure, reduce the cost of its main raw materials, reduce the proportion of outsourcing production, enhance the company’s R & D capacity and capital strength, enhance the company’s core competitiveness, and have good investment recovery ability. Therefore, it is expected that the implementation of the raised investment project will greatly improve the company’s profitability. (organized by ledinside Janice)
Editor in charge: WV