Core Viewpoint - Dingjia Precision has officially listed on the Beijing Stock Exchange after two rounds of inquiries, raising questions about the necessity of its fundraising amid declining capacity utilization and significant cash reserves [2][8]. Group 1: IPO Details - Dingjia Precision's online issuance attracted 80,300 investors, with 19 million shares allocated, raising 21.2 million yuan, representing a 0.03% allocation rate [2]. - The strategic placement accounted for 4 million shares, or 20% of the total issuance, with a price of 11.16 yuan per share, raising 44.64 million yuan [2]. - The company’s actual controllers, Li Jieping and Cao Yun, hold a combined 89.77% voting rights, being a married couple [2]. Group 2: Compliance Issues - The company disclosed non-compliance with social insurance and housing fund contributions for some employees from 2022 to 2024, with specific numbers of employees not covered [3][4]. - The company explained that some employees were retirees or new hires, and some voluntarily opted out of contributions [3]. - Legal experts emphasized that companies are obligated to pay social insurance and housing funds regardless of employee consent to waive them [4][5]. Group 3: Financial Performance - Dingjia Precision's revenue for 2022-2024 was approximately 329 million yuan, 367 million yuan, and 408 million yuan, with year-on-year changes of -15.99%, 11.47%, and 11.18% respectively [7]. - The net profit attributable to shareholders for the same period was 54 million yuan, 52 million yuan, and 60 million yuan, with year-on-year changes of -30.10%, -3.03%, and 14.63% respectively [7]. - The company reported a gross profit margin of 32.40%, 33.09%, and 30.38% over the three years [7]. Group 4: Fundraising and Expansion Plans - The IPO aims to fund four new projects with a total investment of approximately 302 million yuan, with 255 million yuan expected from the fundraising [8]. - The company plans to increase production capacity for functional and protective products significantly, despite concerns about current capacity utilization rates [8]. - As of 2024, the company holds approximately 257 million yuan in cash, with a current ratio of 2.93 and a quick ratio of 2.78, indicating strong liquidity [8]. Group 5: Investment Cash Flow - Investment cash inflows for 2022-2024 were 495 million yuan, 948 million yuan, and 497 million yuan, primarily from cash recovered from investments [9]. - The company experienced net cash outflows from investment activities of 95.78 million yuan in 2022, with subsequent inflows in 2023 [10]. - The cash flow from investment activities is influenced by the purchase and redemption of structured deposits [10].
鼎佳精密募资必要性受关注 未为部分员工缴纳社保公积金