瑞财经 吴文婷近日，广东正扬传感科技股份有限公司（以下简称"正扬科技"）主动撤回申请，深交所主板IPO终止，保荐机构为华泰联合证券有限 责任公司，保荐代表人为杨铭、叶余宽，会计师事务所为容诚会计师事务所（特殊普通合伙）。 据了解，正扬科技IPO申请于2023年6月28日获受理，2023年7月26日接受问询，在审时间超过两年。 正扬科技是一家致力于在汽车电子及关键零部件领域持续创新发展，并全面参与全球市场竞争的全球化汽车零部件及总成供应商。 资料显示，顾一新，中国台湾籍，拥有中国台湾地区永久居留权，1954年3月出生，毕业于中国台湾地区海军军官学校轮机专业，本科学历。1979 年10月至1999年10月，于中国台湾地区海军服役；1999年11月至2004年8月，担任德华国际有限公司执行经理；2003年3月至2006年12月，担任东莞 威马电子机 械有限公司董事、总经理；2004年9月至2022年9月，历任东莞正扬电子机械有限公司董事、董事长、总经理；2022年5月至今，担任西 方商贸董事；2022年5月至今，担任正昇(东莞)企业管理咨询有限公司执行董事；2022年9月至今，担任广东正扬传感科技股份有限公司董事长 ...

文/末日机甲 7月19日，深交所公布对广东正扬传感科技主板IPO终止的决定、对贵州多彩新媒体创业板IPO终止审核的决定。两家都是发行人和保荐机构撤回申报。广东正扬的 实控人夫妇为中国台湾籍自然人。贵州多彩新媒体2022年扣非净利润2亿元，早在2023年3月23日过会，但过会至今接近28个月一直未能提交注册。 | 序号 | 发行人全称 | 板块 | 审核状态 | 注册地 | 证监会行业 | 保荐机构 | 律师事务所 | 会计师事务所 | 更新日期 | 受理目期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 广东正扬传感科技股份 有限公司 | 主板 | 终止(撤回) | 厂东 | 汽车制造业 | 华泰联合 | 上海市锦天城律 师事务所 | 容诚会计师事务 所(特殊普通合 | 2025-07-19 | 2023-06-28 | | | | | | | | | | 伏) | | | | | 贵州多彩新媒体股份有 | 创业板 | 终止(撤回) | 豊州 | 电信、广播电 | 中银证券 | 广东华商律师事 | 天健会计师 ...

7月19日深交所公告，因广东正扬传感科技股份有限公司(简称"正扬科技")、保荐人撤回发行上市申请，根据规定，深交所决定终止其发行上市审核。 | X | 首 东正扬倡 | | --- | --- | | 已受理 2023-06-28 | | | 项目基本信息 | | | 公司全称 | 广东正扬传感科技股份有限公司 | | 受理日期 | 2023-06-28 | | 审核状态 | 终止(撤回) | 专注汽车电子领域的正扬科技深主板IPO告终。 值得注意的是，正扬科技面对经营业绩下滑的风险。正扬科技表示，受2022年度国内重卡终端需求被提前透支、国内公路货运量负增长打击终端购车需求以 及主要原材料采购价格波动等因素影响，报告期内，正扬科技营业收入及扣非净利润存在一定波动。2023年四季度以来，国内天然气与柴油价差维持高位致 使柴油重卡销量不及预期，亦对公司业绩造成一定不利影响。 回顾其上市历程，2023年6月正扬科技深主板IPO获受理，公司原计划募资12亿元，投入到搬迁、技改及信息化升级项目，新能源产品建设项目，技术研发 中心项目和补充流动资金。2023年7月正扬科技被首轮审核问询，2024年8月被第二轮审核问询， ...

Investment Rating - The investment rating for the company is Neutral (maintained) [2] Core Views - The company has shown initial results in cost control, with a significant increase in automotive electronics contributing to profit recovery [6] - The company reported a revenue of 5.541 billion yuan in 2024, representing an 18.5% year-on-year growth, while the net profit attributable to the parent company was a loss of 550 million yuan [6] - In Q1 2025, the company achieved a revenue of 1.328 billion yuan, a 49.3% increase year-on-year, indicating a narrowing of losses [6] - The company is actively expanding its international market presence, securing contracts with major OEMs and enhancing its global service capabilities [6] Financial Data and Profit Forecast - Total revenue projections for 2025E are 7.335 billion yuan, with a year-on-year growth rate of 32.4% [5] - The company expects to achieve a net profit of 28 million yuan in 2025E, with a significant turnaround projected for 2026E at 175 million yuan [5] - The gross margin is expected to improve from 21.5% in 2024 to 23.8% in 2025E, reflecting better cost management and product mix [5] - The company anticipates a gradual recovery in profitability, with a projected return on equity (ROE) of 0.7% in 2025E, increasing to 6.2% by 2027E [5] Revenue and Cost Analysis - The company’s operating revenue is forecasted to grow from 5.541 billion yuan in 2024 to 10.207 billion yuan by 2027, with a compound annual growth rate (CAGR) of approximately 14.8% [7] - Research and development expenses are expected to stabilize, with a decrease in the R&D expense ratio from 18.7% in 2024 to 12.6% by 2027, indicating improved operational efficiency [6][7] - The company is focusing on the production of smart driving electronic products and chassis domain controllers, which are expected to contribute significantly to revenue growth [6]

Core Viewpoint - The company reported strong financial performance in 2024, with significant growth in revenue and net profit, driven by advancements in smart IoT devices and strategic expansions into new markets [1][2][3][4][5] Financial Performance - In 2024, the company achieved revenue of 6.423 billion yuan, a year-on-year increase of 24.14%, and a net profit attributable to shareholders of 465 million yuan, up 5.43% [1] - For Q4 2024, revenue reached 1.877 billion yuan, reflecting a 16.89% year-on-year growth, while net profit surged by 77.78% to 164 million yuan [1] - In Q1 2025, revenue was 1.442 billion yuan, a 5.79% increase year-on-year, with net profit rising 1.70% to 125 million yuan [1] Business Segments - The smart IoT device charging business is rapidly growing, with revenue from chargers and adapters reaching 4.932 billion yuan in 2024, a 24.58% increase [2] - The company has developed comprehensive wireless power solutions across four sectors: consumer electronics, smart wearables, personal care, and robotics, with a focus on high-power products [2] - In the electric vehicle sector, revenue was 553 million yuan in 2024, with a focus on core technologies like MCU, BMS, and VCU, and over 1.5 million systems delivered [3] - The energy storage and server power business saw revenue of 938 million yuan in 2024, a 40.50% increase, with a focus on integrated energy solutions [3] Profitability Metrics - The company's gross margin for 2024 was 19.84%, a decrease of 2.41 percentage points year-on-year, while the net profit margin was 7.24%, down 1.28 percentage points [4] - In Q4 2024, the gross margin improved to 19.93%, with a net profit margin of 8.75%, an increase of 2.99 percentage points [4] - For Q1 2025, the gross margin was 20.10%, and the net profit margin was 8.65%, showing slight year-on-year declines [4] Future Growth Prospects - The company is expected to benefit from the AI wave in consumer electronics and continued expansion in the electric vehicle market, with projected revenues of 8.088 billion yuan in 2025, growing by 26% [5] - Forecasted net profits for 2025 are 610 million yuan, representing a 31% increase year-on-year, with further growth anticipated through 2027 [5]