Recodeal(SH:688800) Chang Jiang Shang Bao·2025-11-04 00:18Core Viewpoint - Ruikeda (688800.SH) has received approval from the CSRC to issue convertible bonds to raise up to 1 billion yuan, aimed at enhancing its core business in high-frequency and high-speed connectors, as well as smart energy connections, while also supplementing working capital [1][2]. Group 1: Company Overview - Established in 2006, Ruikeda specializes in the research, production, and sales of connectors, and is recognized as a national-level "little giant" enterprise [4]. - The company has developed capabilities in optical, electrical, microwave, and high-speed data connectors, and has been listed on the Sci-Tech Innovation Board since 2021 [4]. Group 2: Financial Performance - For the first three quarters of 2025, Ruikeda reported a revenue of 2.321 billion yuan, a year-on-year increase of 46.04%, and a net profit attributable to shareholders of 233 million yuan, up 119.89% [4][5]. - The company's revenue grew from 610 million yuan in 2020 to 2.415 billion yuan in 2024, marking a 295.9% increase, while net profit rose from 73.63 million yuan to 175 million yuan during the same period, a 137.67% increase [4]. Group 3: Investment and R&D - The company plans to invest 669 million yuan in the high-frequency and high-speed connection system upgrade project, with 500 million yuan sourced from the bond issuance, aiming to add a production capacity of 5.56 million sets [2]. - The smart energy connection system upgrade project will require a total investment of 279 million yuan, with 200 million yuan from the bond proceeds, adding a capacity of 6.7 million sets [2]. - Ruikeda's R&D expenses from 2020 to the first three quarters of 2025 totaled 533 million yuan, with a steady increase in investment translating into significant achievements, including 384 domestic and international patents [6].