From February 1st onwards, the application for the prospectus was submitted. By March 8th, the initial application passed. Foxconn IPO 'Lightning' will only use the 36-day time to create a new rate of A-share IPOs. It is expected that Foxconn will routinely obtain Approvals, the fastest issuance and listing will be completed this month, Foxconn will also become the A-share technology stocks leading shares.
'The Big Mac' Foxconn 'Lightning' Meeting
Foxconn is principally engaged in the design, development, manufacturing and sales of various types of electronic equipment products. Relying on the Industrial Internet, the company provides intelligent manufacturing and technology service solutions to world-renowned customers. Its major products include communications network equipment, cloud service equipment, precision tools and industrial Robots. Related products are mainly used in smart phones, broadband and wireless networks, multimedia service operators infrastructure, telecommunications infrastructure, Internet value-added service providers need end products, enterprise networks and data center infrastructure and sophisticated core Automated intelligent components manufacturing and so on.
Currently, Foxconn owns 31 domestic subsidiaries and 29 overseas subsidiaries directly or indirectly, and Foxconn's major customers include Amazon, Apple, ARRIS, Cisco, Dell, HPE, Huawei, Lenovo, NetApp, Nokia and nVidia The world's leading electronics industry brand companies.
During the reporting period, Foxconn's total revenue from the top five customers accounted for 76.81%, 78.63% and 72.98% of the revenue for the period, of which revenue from the major customer, Apple, accounted for 20% -30% of the total revenue for the period. In 2017, the consolidated gross profit margin of the Company was approximately 10.14%, and the overall gross profit margin was low.
The Foxconn IPO is planned to raise funds of 27.253 billion yuan, which will help it bring about new developments in transformation and upgrading with domestic capital markets. However, as of Foxconn's application for listing, the company was established not more than three years ago, and there is also a pre-restructuring period. Deducting non-net profits as a minor flaw and competition in the same industry. However, the Commission did open a 'green light' all the way.
From February 1st, the report of the prospectus was submitted. On February 9th, the report of the prospectus and the feedback were announced; on February 22, the prospectus entered the status of “pre-discovery update”; on March 8, Foxconn started the initial application. Through 36 days to complete the declaration from the prospectus to the success of the meeting, Foxconn IPO speed called 'light speed', set a new record of IPO listing of the A stock market.
Foxconn led the concept stocks soared
In fact, Foxconn’s A-share IPO process has pressed the fast-forward key from the very beginning, and Foxconn-related concept stocks have soared. Many companies have expressed their cooperation with Foxconn.
In the Foxconn concept stocks, Wang Zixin, Shenghong Technology, said that Foxconn is the company's largest customer; Yihua shares, Guangsheng shares, Anjie technology, Precision Electronics, Cree International and other companies that Foxconn is a corporate customer; Siu Chi shares, Chaohua Technology, Shennan Circuit, Tin Industry, Aoscon, Yutong Communication, and other companies that have business dealings with Foxconn. In addition, Yi Ya Tong said that part of the joint venture company has cooperated with Foxconn; Jiangfen magnetic material said , Foxconn is one of the main customers of the company's subsidiaries.
In addition, the second largest shareholder of Ancai Tech, Fuding Electronic Technology (Jiashan) Co., Ltd. is a subsidiary of Foxconn, and holds 17.04% shares of Ancai Gaoke. Yuhuan CNC is a supplier of precision grinding equipment from Foxconn; Main high-precision electric spindle and its spare parts, Foxconn suppliers. Shennan Electric and Foxconn have business relationships, in the past 3 years, Foxconn is one of the top five overseas customers in Shenzhen South circuit.
According to estimates of Changjiang Securities, the total market value of Foxconn, which has raised nearly 27.3 billion yuan, may reach 682.5 billion yuan, which is equivalent to 8.5 science and technology news agencies, 5.2 ZTE, and 2 three hundred and sixty-nine, becoming A-share technology stocks. Leading stocks, this will inevitably affect the nerves of all parties, how long will the Foxconn concept stocks continue to rise? It is worth looking forward to.
The unicorn spring is coming
At present, even if there are some minor flaws such as operating time of less than three years, Foxconn will still be successfully reviewed, and it will be less than a month from disclosure. According to analysis, Foxconn's lightning speed is borrowed from unicorn enterprises or The spring breeze that can be immediately reported.
As early as February 28, official sources stated that the Securities and Exchange Commission’s issuance department will include 'unicorns' whose market value reaches a certain size in the four major new economic sectors including biotechnology, cloud computing, artificial intelligence, and high-end manufacturing. 'Enterprises, relax the approval time and profit standards, take the special channel that is 'report and review'.
It can be seen that the regulators are using rare support to welcome the new economy. 'Unicorn' companies are listed on the A-share market. However, Foxconn and unicorn companies in the field of technology and especially artificial intelligence are different. An important threshold for the listing of A-shares. Yes, the net profit of the company’s application for the last three fiscal years is positive and totals more than RMB 30 million. This means that benign profitability is an important measure to be listed on the A-share market.
According to Foxconn's prospectus disclosure, from 2015 to 2017, Foxconn's operating income was 272.8 billion yuan, 272.7 billion yuan, 354.5 billion yuan, and the net profit attributable to shareholders of the parent company was 14.4 billion yuan, 14.4 billion yuan, 15.9 billion yuan, far higher than Many A shares are comparable to listed companies.
Of course, Foxconn’s IPO process was pushed by accelerators, and the driving force was mainly from the regulators. The entire process will also become a reference for new-economy companies and unicorn companies will accelerate their listing in the future.
'Foxconn can successfully list on the A-share market, not only can provide capital support for its own transformation, access to the IPO rapid channel also shows that the country's emphasis on industrial Internet / smart manufacturing. ' Ping An Securities analyst Yan Lei believe that. With Foxconn will soon land In the A-share market, Foxconn catching the Capital Express will have more advantages in controlling many aspects of the terminal supply chain. At the same time, it will build on the industrial Internet platform, and will invest more in the R&D and application of 5G, intelligent manufacturing technologies to meet future intelligent manufacturing. The demand for production capacity will also be expected to promote the coordinated development of supply chain companies, especially local companies.