这家公司卖碎纸机、真空包装机，即将IPO

Core Viewpoint - The company, Guangdong Banzai Chuangke Electric Co., Ltd., is preparing for an IPO on the Beijing Stock Exchange, with significant growth in revenue and net profit projected for 2023 and 2024, driven by its main products in office and household appliances [1][2]. Financial Performance - The company's net profit attributable to the parent company is expected to grow by 1375.62% in 2023 and 41.07% in 2024, significantly outpacing revenue growth of 9.08% and 29.25% respectively [2]. - Revenue figures for the reporting periods are as follows: 2023 - 1,070.93 million yuan, 2024 - 1,168.14 million yuan, and 2025 forecasted between 1,760.00 million and 1,820.00 million yuan, indicating a growth rate of 16.57% to 20.55% compared to 2024 [4]. Product Overview - The company specializes in office and household appliances, with key products including shredders and vacuum packaging machines. Shredders accounted for 54.81% to 59.02% of the main business revenue during the reporting periods [10][11]. - The company has a significant presence in the global market, with overseas sales revenue reaching 1,019.22 million yuan in 2023, representing 95.34% of main business revenue [11]. Market Position - In 2023, the global shredder market was valued at approximately 3.5 billion USD, with the company holding a market share of 2.76%. The company is a leading exporter of shredders in China, accounting for 22.18% of the total shredder exports in 2024 [12]. ODM Business - The company's ODM (Original Design Manufacturer) business is a major revenue source, contributing 47.92% to 35.66% of main business revenue across the reporting periods. The company provides ODM services primarily to Amazon [13][14]. R&D Investment - The company's R&D expenses were relatively low compared to comparable companies, with R&D investment as a percentage of revenue ranging from 2.15% to 2.53% during the reporting periods. The company employed 157 R&D personnel, accounting for 7.87% of total employees [16][17]. Accounting Corrections - The company identified accounting errors in 2022, leading to the overstatement of revenue and costs by 4.73 million yuan. Corrections were made to ensure compliance with accounting standards [20][21]. Regulatory Concerns - The company has faced regulatory scrutiny, including a warning from the National Equities Exchange and Quotations regarding financial data misreporting and a notice from the Guangdong Securities Regulatory Bureau about accounting irregularities [23].