Company Overview - Dingjia Precision (920005.BJ) is primarily engaged in the design, research and development, production, and sales of functional and protective products for consumer electronics, with applications in laptops, tablets, smartphones, all-in-one computers, servers, monitors, AR/VR, and gaming consoles [1] - The company has a strong technological foundation, possessing core technologies such as die-cutting multi-layer combination asynchronous processing, die-cutting online waste hole technology, and automated positioning cutting technology, with 208 patents obtained as of March 31, 2025 [6] Financial Information - The initial public offering (IPO) price was set at 11.16 yuan per share, with an issuance price-to-earnings ratio of 15.29, compared to the industry average of 40.93 [2] - The company plans to allocate raised funds to various projects, including 1.37 billion yuan for precision functional device production, 670 million yuan for packaging material processing, 600 million yuan for precision functional component production, and 390 million yuan for protective material production [4] Market Position and Industry Trends - Dingjia Precision has established long-term and stable relationships with well-known companies in the industry, including Compal Electronics, Delta Electronics, and Luxshare Precision, with products ultimately used by major consumer electronics brands like Dell, HP, Lenovo, and Sony [6] - The consumer electronics industry in China is experiencing positive growth, with the country being the largest manufacturing base and consumer market for these products, which benefits the functional and protective product sector [6] Risks - The company faces customer concentration risk, with a significant portion of revenue derived from Compal Electronics, accounting for 59.48%, 58.69%, and 56.83% of total revenue from 2022 to 2024 [7] - There are internal control risks due to the significant control held by the actual controllers, which may lead to decisions that favor their interests over those of other shareholders [7]