Xin Lang Cai Jing·2025-06-23 21:10Group 1: IPO and Market Position - The Beijing Stock Exchange (北交所) has significantly accelerated its IPO acceptance, with 30 companies accepted in the last month, including three from Ningbo [1] - Zhejiang Yongli Precision Manufacturing Co., Ltd. (永励精密) has been accepted for IPO on May 29, 2023, marking its entry into the capital market [3] - Yongli Precision is a leading player in the automotive precision steel pipe and component sector, with a market share forecast of approximately 30% from 2022 to 2024 [5] Group 2: Financial Performance - Yongli Precision's projected revenues for 2022, 2023, and 2024 are 416 million, 508 million, and 568 million yuan respectively, with net profits of approximately 60.39 million, 92.95 million, and 94.81 million yuan [7] - The company anticipates a compound annual growth rate (CAGR) of 16.82% in revenue and 26.74% in net profit from 2022 to 2024 [7] Group 3: Customer Concentration - The revenue concentration from the top five customers is expected to increase from 63.07% in 2022 to 77.47% in 2024, with significant contributions from Tenneco and BYD [5] - In 2024, sales to Tenneco and BYD are projected to reach 309 million yuan, accounting for 54.45% of the total revenue [5] Group 4: Ownership and Governance - The founder, Wang Xinghai, retains a 32.67% stake in the company, while his family collectively controls 95% of the voting rights [9][10] - Wang Xiaoyuan, the founder's daughter, has been serving as the chairperson since 2021, with other family members holding key management positions [9][11] Group 5: IPO Fund Utilization - Yongli Precision plans to raise 380 million yuan through its IPO, with 250 million yuan allocated for expanding production capacity for chassis system components and 130 million yuan for a new steering column project [12] - The total investment for these projects is estimated at 577.95 million yuan [12]