Public information shows that the main business of Ming Yang Circuit PCB R & D, production and sales, with PCB production capacity of the whole process, the products are mainly small batch PCB. Currently Ming Yang circuit has Flex, Jabil (Jabil) ICAPE, ENICS, Würth, Daktronics and etc. According to the ranking of CPCA domestic PCB manufacturers, in 2016, Mingyang Circuit ranks the 54th in the domestic PCB industry.
According to the prospectus disclosure of Ming Yang Circuit, IPO plans to raise funds 758 million yuan, of which 619 million yuan for Jiujiang printed circuit board production base expansion project, accounting for the proportion of total fund-raising more than Bacheng; 90 million yuan to add liquidity projects , The remaining 48,806,600 yuan for Jiujiang Ming Yang R & D center project.
Although the issuance examination committee approved the issuance of the Mingyang Circuit initial applications, but also on the Mingyang circuit asked questions, including,
First, during the reporting period, the consolidated gross profit margin of Mingyang Circuit was 29.58%, 28.55%, 34.57% and 32.44% respectively, higher than the average of comparable public companies. Mingyang Circuit needed to combine the cost, unit price, manufacturing cost, product mix, Internal and external ratio and other factors.
Second, prior to 2015, the main orders for overseas orders of Mingyang Circuit were mainly Shenzhen Mingyang, shipped directly from Shenzhen Mingyang to overseas customers, and Jiujiang Mingyang provided outsourcing for Shenzhen Mingyang. Since 2015, Hong Kong Ming Yang Become the main sales platform of overseas business.Mingyang Circuit needs to combine the different orders of overseas business and the settlement and delivery modes before and after 2015 to illustrate the process of capital flow and exchange exchange under different modes.
It can be found out that the Ming Yang circuit is a small batch PCB manufacturing plant, margin higher than its peers, a major market listing is to expand Jiujiang PCB production base and the Ming Yang circuit was originally set up in Shenzhen PCB factory, but has been to Jiangxi Jiujiang transfer.Industry said that in the future will be more PRD, Yangtze River Delta PCB companies onto the IPO, the transfer of their industries will be the central and western regions, which will be the trend of the entire domestic PCB industry.