The data show that the main business of Ming Yang Circuit PCB R & D, production and sales, with full-process PCB production capacity, products mainly to small batch PCB, product types cover HDI board, multilayer, thick copper, metal substrate, high frequency Board, around the board, etc., you can meet one-stop customer a variety of small quantities of more variety needs, used in industrial control, medical electronics, automotive electronics and LED lighting and other fields.
At present, the products of Mingyang Circuit are recognized by customers in terms of delivery speed, stability of product quality, technical level and service, and have been approved by Flex, Jabil, ICAPE, Enix ENICS), Würth and Daktronics, among which the business with Flex accounted for 15.34% of the total revenue in 2016. According to the 2016 rankings of domestic PCB manufacturers in CPCA silicon, Mingyang Circuit ranks the top in domestic PCB industry 54th place.
In terms of performance, Mingyang Circuit realized revenue of 563 million yuan, 633 million yuan and 816 million yuan respectively, with net profits of 45.168 million yuan, 59.5696 million yuan and 123.1342 million yuan respectively from 2014 to 2016. From the perspective of gross profit margin, Mingyang Electric Circuit Co., Ltd. was 29.58%, 28.55% and 34.57% respectively from 2014 to 2016. The average of the same industry companies was 26.79%, 25.86% and 27.19% respectively.
Prospectus disclosed that this Yangyang circuit IPO plans to raise funds 758000000 yuan, of which 619000000 yuan for Jiujiang printed circuit board production base expansion project, the total amount of fund-raising than the proportion of Bacheng; 90 million yuan to add liquidity Project, the remaining 48,806,600 yuan for Jiujiang Ming Yang R & D center project.
The fund-raising project will be completed after the construction of 600,000 square meters of PCB annual production capacity, accounting for 93.79% of the company's production capacity in 2016, after the completion of production reached an average annual sales of 107,819 million yuan. Ming Yang said the circuit, if the project is completed Significant adverse market conditions or changes in the market or companies do not develop the relevant market is not enough, or the development of competitors that the company at a disadvantage, will lead to raise funds for new investment projects can not be digested in a timely manner, the project may return on investment and the company expected earnings Negative Effects.
Prior to this issuance, Zhang Peike, the actual controller of Mingyang Circuit, indirectly held 81.8592% of the equity of the Company through Runxi Investment, Shenzhen Shengjian and Shenzhen Jiuxi and indirectly controlled 87.8280% shares of the Company and was in absolute control .
Mingyang Circuit said that in the future, it will stick to the enterprise orientation of "multi-varieties, small-batch and high-tech". The Company will continue to strengthen basic R & D and product research and development in the next three years, enhance product technology competitiveness and increase the proportion of sales of mid- and high- Strengthen the international market expansion, improve the company's international market share; increase investment in advanced equipment and production lines to enhance product production capacity, efficiency and automation.