February 18, Jinlu Electronic Technology Co., Ltd. (hereinafter referred to as "Jinlu Electronics") gem IPO smoothly, will soon land A shares. This time, IPO, Jinlu Electronics plans to issue no more than 37.79 million shares and plans to raise 785 million yuan, which is mainly used for new energy vehicle supporting high-end printed circuit board construction projects, repayment of financial liabilities and supplementary liquidity.
According to the presentation of Jinlu Electronics, in the automotive field, the company has been involved in the automotive PCB market since it was put into production in 2012, ensuring that it meets the high reliability requirements of automotive PCB from the aspects of key equipment, production process, quality system and staffing, and has built a professional automotive PCB production team and a perfect quality control system.
Jinlu Electronics became the PCB supplier of Ningde era in October 2016. taking the BMS circuit board as the starting point to develop the new energy vehicle market, the product application field gradually covers the core components and supporting facilities of new energy vehicles, such as BMS, motor controller, DC/DC converter, vehicle charger, ADAS, charging pile, etc., and has become the largest PCB supplier in Ningde era. Confirmed by Ningde Times, from 2018 to the first half of 2021, the amount of rigid PCB of Ningde era direct or indirect procurement company accounted for more than 60% of its total rigid PCB procurement.
Jinlu Electronics has been deeply engaged in the field of automotive electronics for many years, ranking high in the field of new energy vehicle applications represented by BMS, with obvious competitive advantages. In addition to the Ningde era, it has also accumulated high-quality customers in the field of new energy vehicles, such as Guoxuan Hi-Tech, Funeng Technology, Tetrude, Yutong bus, Geely Automobile, Xinrui Technology, Inball, etc., and is the largest PCB supplier to Ningde Times, the largest electric vehicle battery manufacturer in the world. The company's products are finally used in Tesla, BMW, Audi, Daimler, Xiaopeng, Xilai, Volkswagen, Toyota, Sany heavy Industry, Chrysler, Hyundai, Nissan and other well-known automobile brands.
In terms of production capacity, Jinlu Electronics has two major production bases in Qingyuan, Guangdong and ANLU, Hubei, covering a total area of about 450mu, with a planned annual production capacity of 5.2 million tons of PCB. At present, it has an annual production capacity of 2.2 million tons. The company is a national high-tech enterprise and Guangdong circuit board engineering technology research and development center.
The new energy vehicle supporting high-end printed circuit board construction project will form an additional annual production capacity of 1.2 million tons of rigid board, HDI board and rigid flexible plywood after the completion and production of the new energy vehicle, which will enrich the company's product range and expand the company's PCB production capacity.
Jinlu Electronics said that the company's current products are mainly used in automotive electronics, communication electronics, industrial control fields. With the continuous upgrading of electronic equipment and the in-depth development of 5G application technology, the development of 5G technology provides a broad space for terminal applications such as Internet of things and industrial Internet, while in the field of industrial Internet and Internet of things, vehicle Internet may be one of the biggest applications, and the combination of 5G technology and automobile has become the cornerstone of promoting automobile intelligence. On the basis of existing technology reserves and customer reserves, and combined with the development trend of the industry, the company will continue to develop new products, new technologies and develop new customers, focusing on the R & D, production and sales of PCB products in the fields of new energy vehicles, 5G applications and intelligent driving applications.
In terms of performance, from 2018 to the first half of 2021, Jinlu Electronics realized revenue of 528 million yuan, 609 million yuan, 792 million yuan and 576 million yuan, and its net profit was 39.6865 million yuan, 49.1482 million yuan, 67.3951 million yuan and 46.4446 million yuan respectively.
Jinlu Electronics expects revenue of 1.3 billion yuan to 1.33 billion yuan in 2021, an increase of 64.12% to 67.90% over the same period last year. The estimated net profit of returning home is 94 million yuan to 99 million yuan, an increase of 39.48% to 46.89% over the same period last year.
With regard to future production planning, Jinlu Electronics said that the company will accelerate the construction of intelligent factories, integrate Industrial 4.0, launch MES system, and actively explore cooperation with international leading factory automation service providers to optimize production processes, improve production efficiency and reduce production losses. Orderly promote the Hubei production base multi-layer board production line, HDI board production line, rigid-flex board production line construction and commissioning, optimize the existing product structure, and further expand production capacity; enhance the manufacturing capacity of small batches of boards, strengthen quality and production plan management, strictly control product yield and delivery time; increase operation skills training for production personnel, and strive to reduce product scrap rate and defective rate caused by human factors.
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