智能LED模组

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通宝光电三次冲击资本市场:从创业板折戟到北交所背水一战
Jing Ji Guan Cha Wang· 2025-04-29 13:52
Core Viewpoint - Tongbao Optoelectronics plans to go public on the Beijing Stock Exchange, aiming to raise 330 million yuan through the issuance of up to 18.7934 million shares, with a focus on the automotive LED sector [2] Group 1: Company Overview - Tongbao Optoelectronics previously attempted an IPO on the ChiNext board in 2018 but withdrew its application before the review [2] - The company signed a counseling agreement with Industrial Securities in December 2022 but terminated it in November 2023 due to strategic adjustments [2] - The latest prospectus indicates that the revenue share from the top five customers increased from 94.65% to 96.57% from 2022 to 2024, with SAIC-GM Wuling's contribution rising from 66.83% to 83.35% [2] Group 2: Financial Performance - Despite a projected 12% decline in SAIC-GM Wuling's sales in 2024, Tongbao Optoelectronics expects an 11% increase in sales revenue, highlighting potential risks related to pricing power [2] Group 3: Industry Context - As a national-level "specialized and innovative" enterprise, Tongbao Optoelectronics holds 73 patents, including 18 invention patents, and has led the formulation of industry standards for automotive LEDs, showcasing its technological advantages [6] - The current penetration rate of new energy vehicles exceeding 40% presents growth opportunities for its smart LED module projects [6] - The company's journey through the capital market reflects the transformation pains in the automotive parts industry and the deeper contradictions faced by small and medium-sized enterprises in overcoming growth bottlenecks [6]