Main problems raised by the Committee meeting:
1, (1) Issuer The net profit for the January-September 2017 increased sharply from January to June 2017, representing a substantial increase from the same period of last year. The issuer representative was required to explain the issuer's position on the basis of comparable companies in the same industry and the market supply and demand (2) the consolidated gross profit margin of the issuer in 2016 is lower than the average consolidated gross profit margin of comparable listed companies, and the 2017 issuance gross profit margin is lower than the average consolidated gross profit margin of comparable listed companies, and the reasons for the substantial growth in revenue and net profit are reasonable and in line with the industry trends and whether the risk of income fluctuation has been fully disclosed; 6 months before the year higher than a few percentage points, the issuer's representative to explain the reasons for the above contrast.Please sponsor representatives explain the verification methods, basis, and issued a clear verification opinion.
(2) During the reporting period, the issuer's products are mainly used in the production of end-brand products of Apple Inc. Please explain on the issuer's behalf: (1) The issuer's products are not widely used in the automated production of other consumer electronic products other than the Apple brand The reasons for entering the production of other brand products what are the difficulties or obstacles, combined with research projects, technical reserves and other conditions to open up ways to customers outside of Apple, progress and results; (2) the issuer during the reporting period to other automation equipment The reason and rationality of manufacturers selling products, whether there is a competitive relationship, alternative relationship, will affect the issuer's future business development.
3, the issuer to raise funds for this offering to be used in the consumer electronics industry automation equipment construction projects, the new R & D center projects and automotive, photovoltaic, medical industry automation equipment construction projects. The issuer has not been involved in the automotive, photovoltaic, medical industry automation Equipment production area, please sign on behalf of the issuer with existing products, technology and personnel reserves, major customers and major suppliers, explain automotive, photovoltaic, medical industry automation equipment construction projects related to the main products, uses, major competitors, the main target customers , And analyze the feasibility of the issuer's participation in the construction of automation equipment for the automotive, photovoltaic and medical industries, please explain the verification methods and basis for the sponsor representatives and issue clear verification opinions.
4, the issuance of funds raised in place after the issuer assets will increase substantially, the rapid expansion of production capacity of automation equipment.Please representative of the issuer: (1) Indicate whether the issuer has sufficient resources to support the rapid expansion of scale; (2) combined with the industry Development situation, market competition situation, etc., indicating the issuer's development goals, development strategies and business development plans in recent years.
Prospectus shows that Cytech electronic IPO no more than 40 million shares, accounting for the proportion of the total share capital after the release of not less than 25%, plans to raise funds of 793 million yuan for business expansion, the sponsor for Huatai Securities.
SIT Electronics is mainly engaged in R & D, design, production, sales and technical service of automated production equipment. Its main products include automated assembly equipment, automated testing equipment and fixture products for smartphones, tablets and notebooks, wearable devices and other products Of the assembly and testing of its largest customer for Apple, Apple's direct and indirect orders revenue once accounted for more than 90% of its revenue ratio.
Prospectus shows that from 2014 to the end of the first three quarters of this year, the sales revenue of Cytech was 381 million, 489 million, 403 million and 469 million respectively. Net profit attributable to shareholders of the parent company was 133 million Yuan, 127 million yuan, 48 million yuan, 83 million yuan.
In the same period, from 2014 to the end of September this year, the ratio of direct order revenue derived from Apple Inc. to its operating revenue was 83.03%, 79%, 43.54% and 72.92% respectively, from 2014 to the end of September this year. In addition, Apple has gathered around the world Many manufacturers for its services, the formation of a strong system of the Apple industry chain, in recent years, part of the main customers of Cytech Electronics with Apple industry chain manufacturers, resulting in the final sale of equipment and fixtures are mainly used in Apple's end products produce.
During the reporting period, the revenue generated by Cytech Electronics for the production of end-use branded products by Apple Computer was 346 million, 453 million, 365 million and 444 million respectively, accounting for 90.92%, 92.57% and 90.57% of the revenue of the current period respectively. , 94.75% .See, 赛 Teng electronic direct and indirect operating income over 90% driven by Apple.