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国家电网“小伙伴”，智能配电领域“小巨人”今日申购丨打新早知道
2 1 Shi Ji Jing Ji Bao Dao·2025-09-10 23:17

Core Viewpoint - The company, Haocreat Technology (301668.SZ), focuses on smart distribution equipment and digital solutions for distribution networks, aiming to enhance the efficiency and intelligence of power systems [1][6]. Group 1: Company Overview - Haocreat Technology was established in 2007 and specializes in the R&D, production, and sales of smart distribution equipment, including smart ring main units, smart pole-mounted switches, and box-type substations [1]. - The company is recognized as a national-level "little giant" enterprise, a national green factory, and a high-tech enterprise, holding 132 patents and 30 software copyrights [6]. Group 2: Financial Information - The company's IPO price is set at 21 CNY per share, with an institutional offering price of 21.46 CNY per share, and a market capitalization of 17.24 billion CNY [2]. - The issuance P/E ratio is 21.02, while the industry P/E ratio stands at 22.81 [2]. Group 3: Fundraising and Investment Direction - The company plans to allocate 1.57 billion CNY for the production construction project of smart ring main units, 1.03 billion CNY for smart pole-mounted switches, 1.17 billion CNY for the smart distribution R&D center, and 1.00 billion CNY for working capital [4]. Group 4: Market Position and Clientele - Major clients include State Grid, Southern Power Grid, and China Electric Equipment Group, with plans to expand into the industrial sector, becoming a qualified supplier for China National Petroleum Corporation by December 2024 [7]. Group 5: Quality Control and Challenges - The company has faced quality issues due to supplier defects and operational errors, with revenue impacts of 2.30 million CNY, 1.82 million CNY, and 5.20 million CNY from 2022 to 2024, representing 0.41%, 0.27%, and 0.60% of total revenue respectively [7][8]. - Despite these challenges, the company maintains good relationships with clients and views the quality issues as occasional, emphasizing the importance of effective quality control as the business scales [8].