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Lianyun Science and Technology meeting on May 31
According to the arrangement, the Shanghai Stock Exchange listing Committee is scheduled to hold the 14th review meeting in 2024 on May 31, which will be reviewed by IPO Lianyun Technology.
It is reported that Lianyun Technology was accepted on December 28, 2022, and its sponsor was CITIC Construction Investment Securities. It entered the inquiry session on February 23, 2023. By May, the company had completed the second round of inquiries, and the amount of financing planned by the company was 15.Revo3sx20 million yuan.
Lianyun Technology is a platform chip designer that provides data storage master chip, AIoT signal processing and transmission chip. According to reports, Lianyun Technology has built a full-process chip R & D and industrialization platform for SoC chip architecture design, algorithm design, digital IP design, analog IP design, middle and back-end design, closed test design, system scheme development, and so on. The above chips developed by the company can be widely used in consumer electronics, industrial control, data communications, intelligent things and other fields. it has entered the supply chain system of leading customers in industries such as Jiangbolong, Changjiang Storage, Weigang, Yiding, Yuzhan, Baiwei, Jintaike, Shi Creative, Jinshengwei and so on, and has become its main supplier in the above-mentioned fields.
The operating income of Lianyun Technology from 2021 to 2023 is 5.Revo3sx79 billion yuan, 573 million yuan and 1.034 billion yuan, with net profits of 45.1239 million yuan,-79.1606 million yuan and 52.229 million yuan respectively.
It should be pointed out that Lianyun Technology has a high degree of customer concentration. During the reporting period, the top five customers accounted for 75.91%, 76.11% and 73.12% of operating income, respectively. The company's sales to customers E and its related parties accounted for 38.44%, 37.57% and 30.73% of operating income, respectively.
In addition, the suppliers of Lianyun Technology are also more concentrated. Lianyun Technology said that the company is a typical integrated circuit design enterprise using Fabless business model, focusing on chip design, and entrusting third-party enterprises to complete the manufacturing, packaging and testing of the chip industry chain. Due to the particularity of the integrated circuit industry, wafer manufacturing requires high technology and capital scale and high market concentration, and the number of manufacturers with advanced technology that can meet the company's business needs is even less. In the industry, for the sake of process stability and batch procurement cost advantages, many integrated circuit design enterprises often only choose individual wafer factories and closed test plants to cooperate. During the reporting period, the procurement amount of the top five suppliers of Lianyun Technology was 471.2695 million yuan, 482.0567 million yuan and 364.5218 million yuan respectively, accounting for 85.29%, 92.10% and 93.30% of the total annual procurement respectively. Among them, the supplier of the company's wafers is TSMC, and the company's purchases from TSMC accounted for 55.77%, 66.08% and 63.62% of the total purchases in that year, respectively.
Weilong shares convertible bonds to raise 269.71 million
In addition to IPO, the Shenzhen Stock listing Committee will consider the convertible bond project of Weilong shares (002871.SZ), a listed company, on May 31.
SourceRevo3sxExchange
Data show that Weilong shares are mainly engaged in the design, research and development, production and sales of industrial valve products, including gate valves, butterfly valves, control valves, check valves, filters and non-stop water gates, etc., with a rich product matrix, can meet the diversified needs of customers downstream around the world. In 2023, the company's operating income and net profit are 570 million yuan and 117 million yuan respectively. The overseas sales income of Weilong shares accounts for a high proportion of operating income, with 75.33%, 83.53% and 78.75% of the reporting period from 2021 to 2023, respectively.
This time, Weilong share convertible bond project plans to raise 269.71 million yuan, will be invested in the "smart energy-saving valve construction project."
Source: announcement
In 2023, the annual production capacity of Weilong valve products is 469000 sets, and the capacity utilization rate is 95.05%. After the completion and production of the fund-raising investment project "Intelligent Energy Saving Valve Construction Project", the company will add 60,000 sets of smart valves and gas valves per year. In addition, the company plans to build new valve production lines in Saudi Arabia and Thailand. After reaching production, the Saudi project will have an annual production capacity of 60, 000 sets, while Thailand will have an annual production capacity of 100000 sets. Considering that part of the resources of the company's existing production line will be used for internal supply in the future, the annual production capacity of the company's valve products is expected to increase to 657000 sets after the completion and production of the "Smart Energy Saving Valve Construction Project" and the proposed production lines in Saudi Arabia and Thailand.
How to digest the increased production capacity is also an unavoidable topic for Weilong shares. Weilong shares said that the investment project was set through the analysis of market space, its own development strategy and the planning of orders on hand, and it is expected that the new production capacity of this investment project can be reasonably digested.