超颖电子电路股份有限公司首次公开发行股票并在主板上市网上投资者交流会精彩回放

Core Viewpoint - The company aims to become a benchmark in the global electronic circuit industry by focusing on the printed circuit board (PCB) sector, with products widely used in various fields such as automotive electronics, display, storage, consumer electronics, and communication [1][19]. Business Operations - The company's products are applied in automotive electronics, displays, storage, consumer electronics, and communication, covering a range from double-sided boards to 26-layer boards, HDI boards, thick copper boards, metal substrates, and high-frequency boards [1]. - Major raw materials include copper-clad laminates, semi-cured sheets, gold salt, copper foil, copper balls, inks, and dry films, with key suppliers being companies like Unimicron Technology Corp and others [1][2]. - The sales model is primarily direct sales to domestic and international electronic product manufacturers, supplemented by sales through traders and PCB companies [3]. - The company has four wholly-owned subsidiaries and does not have any associated companies [4]. Production and Sales - The company reported production and sales rates of 101.57%, 102.98%, and 97.61% for the years 2022, 2023, and 2024, respectively, attributed to a "sales-driven production" model and external procurement to meet customer delivery demands [5]. - The company has established a strong customer base, including major clients like Continental Automotive, Jabil, Valeo, Bosch, BOE, and LG Group [3][13]. Financial Performance - The reported operating revenues for the company were 3,514.16 million, 3,656.25 million, and 4,123.62 million for the years 2022, 2023, and 2024, respectively [9]. - The gross profit from main business operations was reported as 505.19 million, 739.95 million, and 744.52 million for the same years [10]. - Research and development expenses were 107.76 million, 122.07 million, and 135.03 million, accounting for 3.07%, 3.34%, and 3.27% of operating revenue, with a compound annual growth rate of 11.94% over the last three years [11]. Strategic Development - The company's strategic goal is to be a leading PCB manufacturer in China, focusing on customer satisfaction, innovation, and sustainable development [13]. - The company has established stable partnerships with renowned clients in various sectors, including automotive, display, storage, consumer electronics, and communication [13][14]. - The company has 22 core technologies, including 5 invention patents and 26 utility model patents, and emphasizes continuous innovation and technology development [8][14]. Industry Insights - The PCB industry is evolving towards high-density and high-performance products, driven by the demand for lightweight, high-frequency electronic devices [19]. - The industry is characterized by cyclicality, seasonality, and regionality, with significant opportunities arising from national policies and a rapidly expanding downstream market [21][22]. - The company ranks 23rd among comprehensive PCB enterprises in China and is among the top ten automotive electronic PCB suppliers globally [23]. Fundraising and Investment - The company plans to issue 52.5 million shares, accounting for 12.01% of the total share capital post-issue, with an initial strategic placement of 10.5 million shares [27]. - The funds raised will be used to expand production capacity, supplement working capital, and repay bank loans, with a projected annual sales revenue of approximately 1,002.39 million after the completion of the new production project [27][28].