【上交所IPO】锡华科技今起招股 12月12日申购

Core Viewpoint - Xihua Technology plans to publicly issue 100 million shares, all of which are new shares, resulting in a total share capital of 460 million shares. The company aims to become a global leader in the manufacturing of high-end equipment components for the renewable energy sector, particularly in wind power [1][2]. Company Overview - Xihua Technology specializes in the research, development, manufacturing, and sales of large high-end equipment components, primarily focusing on wind turbine gearbox components and injection molding machine parts. The company is recognized as a global leader in this industry, known for its reliable quality and advanced technology [1][2]. - The company has over 20 years of experience in the industry and has developed several core technologies, including alloy composition schemes and high-strength ductile iron control techniques, ensuring high strength, plasticity, precision, and reliability of its products [2]. Issuance Arrangement - The initial strategic placement will involve 30 million shares, accounting for 30% of the total issuance. Before the strategic placement mechanism is activated, the offline initial issuance will be 49 million shares (70% of the remaining shares), while the online initial issuance will be 21 million shares (30% of the remaining shares). The preliminary inquiry period is set for December 9, with an online roadshow on December 11 [1][3]. Financial Performance - For the first half of 2025, the total assets amounted to 2.036 billion yuan, with a net profit of 94.955 million yuan. The company's revenue for the same period was 580.439 million yuan, reflecting a decrease in net profit compared to previous years [7]. - The company’s net profit margin and return on equity have shown a downward trend, with a net profit margin of 7.74% and a return on equity of 7.74% for the first half of 2025 [7]. Client Base - The top five clients for the first half of 2025 include: 1. Nankai Gear Group: 242.852 million yuan (43.17%) 2. CRRC Corporation: 84.3135 million yuan (14.99%) 3. Delijia: 65.8714 million yuan (11.71%) 4. Haitian Plastic Machinery: 64.1868 million yuan (11.41%) 5. Flanders Group: 51.611 million yuan (9.17%) - The total revenue from these clients accounted for 90.45% of the company's total revenue [5]. Industry Position - Xihua Technology is one of the few companies in China capable of providing full-process services for wind turbine gearbox components, aiming to support the rapid development of the national renewable energy sector [1][2]. - The company’s products are primarily used in large wind power equipment and injection molding machines, with a significant portion of its revenue derived from the wind power sector [9].