三瑞智能第一大客户2024年经销金额过亿，注册资金减资到10万元

Core Viewpoint - Nanchang Sanrui Intelligent Technology Co., Ltd. is a leading manufacturer of drone and robot power systems, currently applying for an IPO, with significant reliance on a major customer, Nanchang Linglai Technology Co., Ltd., which is projected to generate over 100 million yuan in sales in 2024 [1][2]. Group 1: Company Overview - Nanchang Sanrui specializes in the R&D, production, and sales of drone and robot power systems, and is actively developing eVTOL power systems [1]. - The company is preparing for an IPO, indicating growth and expansion plans [1]. Group 2: Major Customer Insights - Nanchang Linglai Technology Co., Ltd. is the largest customer of Sanrui, with a procurement amount of 109 million yuan in 2024, accounting for over 80% of its business [1][2]. - The customer has seen significant growth, with its operating scale projected to be approximately 120.65 million yuan in 2024, up from 3.44 million yuan in 2022 and 4.30 million yuan in 2023 [2]. Group 3: Financial Performance - Nanchang Linglai's registered capital was reduced from 5 million yuan to 100,000 yuan in July 2024, and it reported zero paid-in capital by the end of 2024, raising concerns about its financial stability [1]. - Sanrui's wholly-owned subsidiary, Nanchang Kude Intelligent Technology Co., Ltd., established in May 2024, reported a net asset of -554,400 yuan by the end of 2024, with a matching net profit of -1,554,400 yuan [3]. - The subsidiary continued to incur losses in the first half of 2025, with a reported loss of 331,390 yuan, leading to a projected net asset of -386,830 yuan, although it reported -378,850 yuan, indicating discrepancies in financial accounting [3][4].