Core Viewpoint - ChaoYing Electronics Circuit Co., Ltd. (SH:603175) has announced its initial public offering (IPO) and plans to list on the Shanghai Stock Exchange on October 15, 2025, with an issue price of 17.08 yuan per share and a total fundraising amount of approximately 897 million yuan [1][3]. Fundraising and Project Allocation - The company initially planned to raise 1 billion yuan, with 400 million yuan allocated for the second phase of its high-layer and HDI project and 600 million yuan for working capital and bank loan repayment. However, the updated prospectus indicates a revised fundraising target of 660 million yuan, with the working capital and loan repayment allocation reduced to 260 million yuan [3][4][5]. Business Overview - ChaoYing Electronics specializes in the research, production, and sales of printed circuit boards (PCBs), primarily serving sectors such as automotive electronics, display, storage, consumer electronics, and communications. The company is noted for its capabilities in multi-layer HDI and arbitrary layer interconnection HDI automotive electronic boards [6][8]. Competitive Landscape - Major competitors in the automotive electronics PCB sector include ShenZhen South Circuit, Jingwang Electronics, HuDian Co., ShengHong Technology, and others. Key clients include major automotive companies such as Continental, Valeo, Bosch, Aptiv, and Tesla [6]. Financial Performance - The company's revenue for 2022, 2023, and 2024 was approximately 3.514 billion yuan, 3.666 billion yuan, and 4.124 billion yuan, respectively. Net profits for the same years were about 141 million yuan, 266 million yuan, and 276 million yuan, with non-recurring net profits of 75.12 million yuan, 256 million yuan, and 261 million yuan [6][7]. Recent Developments - In the first half of 2025, ChaoYing Electronics reported revenue of approximately 2.185 billion yuan, a year-on-year increase of 12.61%. However, net profit decreased to about 159 million yuan compared to 180 million yuan in the same period of 2024. The decline in net profit is attributed to higher production costs during the initial phase of operations in Thailand [8]. Shareholding Structure - The largest shareholder of ChaoYing Electronics is Dynamic Electronics Holding Pte LTD, which holds 97.85% of the shares. The company does not have a defined actual controller, with the indirect controlling shareholder being the Taiwan-listed company DingYing Investment Holdings [9][10].
超颖电子将在A股上市，募资净额约为8亿元
Sou Hu Cai Jing·2025-10-18 03:35