SMM: on September 24th, the Shanghai Stock Exchange formally accepted the application of Science and Technology Innovation Board IPO, the leader of air filter, Meier (China) Environmental Technology Co., Ltd. (hereinafter referred to as "Mei-E Technology").
Data show that Meier Technology was established in June 2001, the company's main business is the research and development, production and sales of air purification products and atmospheric environment control products. The company's products supply IC manufacturers such as SMIC, SMIC, China Resources Micro, Central shares, Huatian Technology, Sunlight, SK Hynix, Intel, Western Digital, etc., liquid crystal panel manufacturers such as BOE, Vicino, Huaxing Optoelectronics, CLP Panda, Ofeiguang, Tianma Microelectronics, Fosun Pharmaceutical, Harbin Pharmaceutical Group, Haizheng Pharmaceutical, Kingsley, Tiantan Biology, Collen Pharmaceutical and other biopharmaceutical manufacturers, Trane Air Conditioner, Kelly Air Conditioner, York Air Conditioner, Midea, Haier Group, Dun'an Environment, Tianjia Group and other central air conditioning manufacturers.
Science and Technology Innovation Board Daily reporter noted that Mei-E Technology's main competitors in the industry include Emick (AAF), Camfield (Camfil) and A-share listed companies Zasheng Technology, Jinhai Environment and Yaxiang Integration. According to the prospectus, the revenue scale of similar businesses in comparable A-share listed companies in 2019 is ahead of that of companies in the same industry.
According to the prospectus, the operating income of Mei-E Technology in 2017-2019 and January-March 2020 was 408 million yuan, 640 million yuan, 792 million yuan and 78.9177 million yuan respectively, and the net profit of returning to the mother in the same period was 22.9166 million yuan, 35.1336 million yuan, 71.2832 million yuan and 582300 yuan respectively. The net profit deducted from non-return is 20.8537 million yuan, 33.5802 million yuan, 70.2393 million yuan and-1.024 million yuan respectively.
This time, Science and Technology Innovation Board IPO, Meier Science and Technology plans to invest 714 million yuan in production capacity expansion projects, R & D platform projects and supplementary current funds, which are planned to invest 423 million yuan and 138 million yuan respectively.
It is worth mentioning that Mei-E Technology Sprint Co., Ltd. may be designed for its delisted indirect shareholders to "curve" back to A.
According to the prospectus, Mei-E Technology is not listed or listed on other stock markets, but its indirect shareholder, Meier Group, was listed on the AIM market of the London Stock Exchange in May 2015 and was privatized and delisted in March 2018. The Meier Group is the controlling shareholder (100%) of Meier International, the parent company of Meier Technology, while Meier International directly holds 64.97% of the shares, making it its largest shareholder.
A reporter from Science and Technology Innovation Board Daily tried to contact Mei-E Technology to understand the background and considerations of its listing, but did not receive a reply from the company by the deadline.
The executive director of Xiangsong Capital analyzed to Science and Technology Innovation Board Daily that if the indirect shareholder Meier Group does not have other assets or business except Meier Technology, it can be regarded as using Mei-E Technology to return to the domestic capital market.
The reporting company Shengmei accepted by Science and Technology Innovation Board on June 1 this year is the main operating subsidiary of Nasdaq-listed company ACMR.O, which controls 91.67 per cent of the former. From the point of view of the industry, the listing of the main body of operation in Science and Technology Innovation Board is the compromise solution for Shengmei Semiconductor back to A. For Chinese stocks, the legal gap at home and abroad makes it difficult to realize "Numbai A" at the same time, but the cost of delisting from overseas markets and returning to An after direct privatization is too high. Public xing information shows that at present, there are only chip design companies in Science and Technology Innovation Board's camp, and the science and technology department has been diverted to Kechuang Board after the delisting of US stocks.
However, the prospectus did not further disclose the composition of the business of the US-Egypt Group. With the follow-up disclosure of the inquiry reply, this issue may be further clarified.