Core Viewpoint - Daming Electronics Co., Ltd. has applied for IPO on the Shanghai Stock Exchange, aiming to raise 400 million RMB, focusing on automotive electronic components and solutions [1] Group 1: Company Overview - Daming Electronics specializes in the design, development, production, and sales of automotive body electronic control systems, with products including driver assistance systems, cockpit central control systems, smart optical systems, window control systems, and seat adjustment systems [1] - The company has established stable partnerships with major domestic automotive manufacturers such as Changan Automobile, SAIC Group, BYD, and NIO, as well as foreign brands like Ford and Toyota [1] Group 2: Market Position and Strategy - Daming Electronics is actively expanding into the new energy vehicle sector, with products already applied in various models from brands like BYD and SAIC [2] - The company is conducting research on cutting-edge technologies to enhance product functionality and comfort, aligning with market trends in new energy and smart vehicles [2] Group 3: Financial Information - The total amount of funds raised will be allocated to the construction of a new factory and to supplement working capital, with a total investment of approximately 400 million RMB [3] - Projected revenues for 2022, 2023, and 2024 are approximately 1.713 billion RMB, 2.147 billion RMB, and 2.727 billion RMB, respectively, with net profits of about 151 million RMB, 205 million RMB, and 282 million RMB [3] - As of December 31, 2024, total assets are projected to be approximately 2.716 billion RMB, with a net profit of about 282 million RMB and a basic earnings per share of 0.78 RMB [4]

Group 1 - The core point of the article is that Changzhou Tongbao Optoelectronics Co., Ltd. is making another attempt to go public on the Beijing Stock Exchange, with a fundraising target of 330 million yuan [1][3] - The company has a concentrated ownership structure, with three family members controlling 78.7487% of the shares, giving them significant decision-making power [1][3] - In June 2024, the company received a warning letter from the Jiangsu Securities Regulatory Bureau due to accounting errors that led to inaccurate financial disclosures for three reporting periods [1][4] Group 2 - Tongbao Optoelectronics has a high dependency on its major client, SAIC-GM-Wuling, which accounted for 83.35% of its total revenue in 2024 [1][5] - The company has faced challenges with its core product, the automotive lighting system, which saw a decrease in average selling price by 9.12% in 2024, despite a production and sales rate of 105.81% [1][6] - The company has experienced growth in revenue and net profit from 2022 to 2024, with revenues of 390 million yuan, 529 million yuan, and 588 million yuan, and net profits of 36.69 million yuan, 62.25 million yuan, and 83.09 million yuan respectively [5]

Core Viewpoint - Tongbao Optoelectronics is preparing for an IPO on the Beijing Stock Exchange, aiming to raise 330 million yuan, despite past issues with financial disclosures and a heavy reliance on a single major client, SAIC-GM-Wuling [1][2][4]. Group 1: IPO Preparation - Tongbao Optoelectronics has had a history of attempting to go public, including a previous attempt in 2017 and a recent application that was accepted by the Beijing Stock Exchange [2][3]. - The company plans to issue up to 18.79 million shares, with all proceeds allocated to projects related to smart LED modules and power distribution systems for electric vehicles [3]. Group 2: Ownership Structure - The ownership of Tongbao Optoelectronics is highly concentrated, with three family members controlling 78.75% of the shares, giving them significant influence over company decisions [1][3]. Group 3: Financial Performance - The company reported revenues of 390 million yuan, 529 million yuan, and 588 million yuan from 2022 to 2024, with net profits increasing from 36.69 million yuan to 83.09 million yuan during the same period [6]. - Despite the growth in revenue and profits, the average selling price of its core product, automotive lighting systems, decreased by 9.12% in 2024 [7]. Group 4: Client Dependency - Tongbao Optoelectronics is heavily dependent on SAIC-GM-Wuling, with sales to this client accounting for 83.35% of total revenue in 2024 [1][6]. - The company has a significant reliance on its top five clients, with their sales contributing 94.65%, 98.42%, and 96.57% of total revenue from 2022 to 2024 [6].

文/梧桐晓编 4月27日，北交所新受理2家江苏公司的IPO申请：江苏永大化工机械股份有限公司（874495）、常州通宝光电股份有限公司（833137）的IPO申请。北交所今年至 今共受理7家IPO申请。 | 序号 | | 简称 | 注册地 | 保荐机构 | 律师事务所 | 会计师事务所 | 更新日期 受理日期 | | --- | --- | --- | --- | --- | --- | --- | --- | | 874495 | | 永大股份 | 江苏省 南通市 | 国泰海通证 券股份有限 | 国浩律师（上 致同会计师事务所 海）事务所 （特殊普通合伙） 海) 事务所 | | | | | | | | 公司 | | | | | 2 | 833137 | 通宝光电 | 江苏省 常州市 | | And Children Class of Children Children Company Concessful Collection of 务所（特殊普通合 2025-04-27 2025-04-27 | | | | | | | | 份有限公司 | 律师事务所 | 伏) | | 由于北交所网站尚未公布两家公司的招股 ...