Core Viewpoint - The company, Yijia Additive Manufacturing Technology Co., Ltd., has recently had its IPO application accepted on the Sci-Tech Innovation Board, aiming to raise approximately 12.05 billion yuan for four new projects with a total investment of about 13.38 billion yuan [1]. Financial Performance - The company has shown consistent growth in revenue, net profit, and assets from 2022 to 2024, with total revenues of 2.47 billion yuan, 4.09 billion yuan, and 4.71 billion yuan respectively, reflecting year-on-year growth rates of 65.42% and 15.22% for 2023 and 2024 [2]. - The net profit after deducting non-recurring items is projected to increase significantly, with figures of 0.25 billion yuan, 0.69 billion yuan, and 0.93 billion yuan for the same period, indicating growth rates of 179.26% and 34.74% for 2023 and 2024 [2]. - The company's total liabilities decreased from 5.16 billion yuan in 2022 to 2.61 billion yuan in 2024, resulting in a declining debt ratio from 82.63% to 16.69% [2]. Accounts Receivable - Accounts receivable have grown rapidly, with figures of 0.74 billion yuan, 1.38 billion yuan, and 1.95 billion yuan from 2022 to 2024, representing 33.30%, 37.68%, and 46.04% of total revenue respectively [3]. - By the end of 2024, accounts receivable over one year old amounted to 0.75 billion yuan, accounting for 34.59% of the total, indicating some long-term receivables have not been fully recovered [3]. Inventory Management - The company's inventory has also increased, with total inventory values of 2.68 billion yuan, 3.75 billion yuan, and 4.45 billion yuan from 2022 to 2024, with inventory levels in 2024 being comparable to annual revenue [3]. - The balance of finished goods inventory has risen significantly, with values of 0.37 billion yuan, 0.94 billion yuan, and 1.56 billion yuan, reflecting a growing proportion of 13.79%, 24.71%, and 34.53% respectively [4]. Cash Flow Analysis - The company has experienced negative net cash flow from operating activities over the three years, with figures of -1.06 billion yuan, 0.20 billion yuan, and -0.94 billion yuan [5]. - Cash inflows from sales have increased, but outflows have risen at a faster rate due to growing inventory and accounts receivable [6]. Research and Development - The company has been increasing its R&D expenditures, which were 0.21 billion yuan, 0.24 billion yuan, and 0.31 billion yuan over the three years, representing 8.57%, 5.82%, and 6.50% of total revenue [7][8]. - As of the end of 2024, the company had 123 domestic authorized patents, including 49 invention patents, indicating a strong focus on innovation [8]. Ownership Structure - The controlling shareholder, Yongsheng Holdings, holds a 30.64% stake in the company, with the actual controllers being Li Cheng and Li Jianhao, who collectively control 54.53% of the voting rights [9][10][11].
易加增材赴科创板上市获受理 应收账款占营收比重近半
Zhong Guo Jing Ying Bao·2025-08-20 13:15