Nine Manufacturers of Semiconductor Industry Chain Promote IPO, Shanghai Broadcom and Zhuosheng Micro are concerned

As of early June of this year, the China Securities Regulatory Commission accepted 310 first-issuance and issuance deposit-receiving vouchers, of which 28 have already met and 282 have not yet. There are 275 unqualified companies to be audited. Stop censorship business 7 home.

According to the incomplete statistics of the micro-grid, a total of 9 companies in the 310 semiconductor companies that have covered the semiconductor industry chain have already met or are promoting IPOs and will be expected to list on the main board, small and medium-sized board and ChiNext board.

The three companies to be listed on the Main Board are Beijing Yuanliu Hongyuan Electronic Technology, Broadcom IC (Shanghai), and Shanghai Jingfeng Mingyuan Semiconductor. The four companies to be listed on the SME Board are Chengdu Tianao Electronics, Xinli Optoelectronics, respectively. Hubei Wufang Optoelectronics, Axis Optoelectronics; The two companies to be listed on the GEM are Jiangsu Zhuosheng Microelectronics and Changzhou Yinhe Century Microelectronics, with a total of 9 companies.

Motherboard: Yuan Liuhongyuan, Shanghai Broadcom, Jingfeng Mingyuan

1. Beijing Yuanliu Hongyuan Electronic Technology Beijing Yuanliu Hongyuan Electronic Technology (“Yuanliu Hongyuan”) disclosed a prospectus on the website of the China Securities Regulatory Commission. The company plans to publicly issue not more than 41.34 million shares on the Shanghai Stock Exchange, and the total share capital of the company will be issued. No more than 165 million shares, the sponsor is Guotai Junan Securities.

The prospectus shows that Yuan Liuhongyuan's IPO is intended to raise funds of 745 million yuan, of which 150 million yuan will be used for replenishing liquidity. The remaining funds will be used for electronic components production bases, DC filters, direct sales network and information system upgrades. 3 major projects.

According to statistics, Yuan Liuhong is engaged in the research and development of electronic components based on multilayer ceramic capacitors (MLCC). The products are divided into self-produced and agency businesses. In 2014-2016, the company achieved revenue. They were 446 million yuan, 525 million yuan, 652 million yuan, net profit for the same period were 108 million yuan, 0.76 billion yuan, 149 million yuan.

2. Broadcom IC (Shanghai) Broadcom IC (Shanghai) (hereinafter referred to as “Shanghai Broadcom”) has updated the prospectus on the website of the China Securities Regulatory Commission. The company plans to publicly issue 3,467.84 million shares on the Shanghai Stock Exchange, accounting for 25 percent of the total share capital after the issuance. %, The sponsor is CITIC Securities.

The prospectus disclosed that the Shanghai Broadcom IPO plan raised funds of approximately RMB 671 million, of which RMB 123 million was used for the technology upgrade project of standard agreement wireless interconnection products, RMB 98 million was used for the technical upgrade project of national standard ETC products, and RMB 0.49 billion was used for satellite positioning products R & D and industrialization projects, 127 million yuan for smart home entrance product R & D and industrialization projects, 274 million yuan for R & D center construction projects. Data show that Shanghai Broadcom's main business is wireless communication integrated circuit chip research and development and sales , The specific types are divided into wireless data transmission chip and wireless audio chip. The company's current main products include Bluetooth chip, 2.4GHz/5.8GHz general wireless chip, wireless voice chip, national standard ETC radio frequency chip and FM/AM FM AM radio chip.

In 2017, the company realized revenue of 565 million yuan, a year-on-year increase of 7%; net profit of 87,427,300 yuan, a year-on-year decrease of approximately 17%. During the reporting period, the company achieved sales revenue of 367,305,200 yuan and 44,373.78 million yuan in 2014, 2015 and 2016 respectively. , 52,362.28 million yuan, the compound annual growth rate of operating income was 19.44%; in 2014, 2015, 2016, the net profit of 66.1509 million yuan, 93,843,700 yuan, 10,412.10 ten thousand yuan, the compound annual growth rate of three-year net profit was 25.51%.

3. Shanghai Jingfeng Mingyuan Semiconductor Shanghai Jingfeng Mingyuan Semiconductor (hereinafter referred to as “Jingfeng Mingyuan”) disclosed the prospectus on the website of the China Securities Regulatory Commission. The company plans to issue no more than 15.4 million shares on the Shanghai Stock Exchange, and the total share capital after the issue will not exceed 6160. Ten thousand shares, the sponsor is GF Securities.

According to the disclosure, Jingfeng Mingyuan's IPO plan will raise 550 million yuan of funds, of which 140 million yuan will be used to replenish liquidity. The rest will be invested in general LED lighting driver chip development and industrialization and intelligent LED lighting chip development and industrialization projects.

According to public information, Jingfeng Mingyuan's main business is R&D and sales of analog and mixed-signal integrated circuits. From 2014-2016 and from January to March 2017, the company achieved operating revenue of 337 million yuan, 357 million yuan, and 571 million yuan. Yuan was 153 million yuan. Net profit for the same period was 66.8894 million yuan, 192.451 million yuan, 29.9153 million yuan and 11.90224 million yuan.

Small and Medium Sized Boards: Tian Ao Electronics, Xinli Optoelectronics, Wufang Optoelectronics, Astor Optoelectronics

4, Chengdu Tianao Electronics

Chengdu Tian Ao Electronics (hereinafter referred to as 'Tian'ao Electronics') plans to issue 26,670,000 shares in the small and medium-sized board. After the issuance, the total share capital will reach 106.67 million shares. The planned raised capital is 523 million yuan. At present, Tianao Electronics has passed the meeting.

Tianao Electronics' main business is the design, development, production, sales and service of electronic products, and the military-related business. Since the listing review was approved in mid-January of this year, investors have questioned the company's over-reliance on large customers. Transactions are bundled and the actual controller has dual identities.

The actual controller of Tianao Electronics is China Electronic Technology Group Corporation (hereinafter referred to as “China Electronics”), and China Electronics and Electronics Corporation is both the largest supplier and the largest customer of Tianao Electronics. Tianao Electronics’ prospectus shows that , Tianao Electronics's purchase of goods or services from the China Electronics Corporation for the period from 2014 to 2017 was 147,736,300 yuan, 143.4041 million yuan, 195,535,900 yuan, 48,317,200 yuan, which respectively accounted for current purchases or acceptances. 35.35%, 28.57%, 36.63%, 19.41% of the total amount of labor services. TianAo Electronics' revenue from China Electric Power Corporation for the period from January to June in 2014 was RMB 2608.582 million, 247.553 million, and RMB 296.8465 million respectively. 10.882.91 million yuan, accounting for 42.13%, 35.2%, 38.99%, 37.84% of the operating income for the current period.

5, Shini Optoelectronics

Truly Optoelectronics Co., Ltd. (hereinafter referred to as "Tilly Optoelectronics") intends to log onto the small and medium board market of the Shenzhen Stock Exchange. It is expected that the total number of shares issued will not exceed 80 million shares and will not exceed 19.05% of the total issued share capital, and IPO funds will be raised by approximately 2.289 billion yuan. , It is mainly used to build biometrics systems, integrated on-board touch control modules, construction of photoelectric R&D centers, and 8 fundraising projects for MEMS MEMS devices for mobile terminals. It is reported that this trustee photoelectric IPO sponsor is Galaxy Securities.

In recent years, the integrated touch module, touch screen, and micro camera module manufacturing industries have achieved a good momentum of development. During the reporting period, in 2013, 2014, and 2015, the operating income of Xinli Optoelectronics was respectively RMB 824.999.92 million, RMB 1.03249.92 million and RMB 9.87.27 million. yuan.

The prospectus shows that Truly Optoelectronics has customers including mainstream mobile phone brands such as Samsung, Sony, Microsoft, HTC, VIVO, OPPO, Huawei, Gionee, and TCL, as well as global leading mobile phone manufacturers such as Huaguan and Compal. The company has maintained a close cooperation relationship. Due to the industry-intensive features of the electronic component device industry, customers have stricter monitoring of supplier product quality. Once the supply chain is determined, it will generally maintain a stable and long-term cooperative relationship. Optoelectronics accounted for a relatively high sales of the top five customers, which is in line with the characteristics of the industry with higher concentration of brands in the downstream industry.

However, in the first half of 2017, as a result of stepping on the 'land mine' on the music, Xinli Optoelectronics provided a one-off provision for LeTV’s bad debts, affecting an amount of RMB 359 million.

6, Hubei Wufang Optoelectronics

Hubei Wufang Optoelectronics Co., Ltd. (hereinafter referred to as 'Wuxi Optoelectronics') disclosed its prospectus for the first time on the website of the China Securities Regulatory Commission. The company plans to publicly issue not more than 50.4 million shares in the Shenzhen Stock Exchange, and the total share capital after the issue will not exceed 20160 shares.

Prospectus, 2015-2017, Wufang Optoelectronics realized operating revenue of 243 million yuan, 455 million yuan and 624 million yuan, net profit of 448 million yuan, 138 million yuan and 168 million yuan over the same period, net cash flow from operating activities They were -194.6969 million yuan, 36.4006 million yuan, 146,526,600 yuan, and the performance growth was very impressive. Especially in 2016, Wufang Optoelectronics' operating revenue increased by approximately 87.24%, and net profit increased by 187.5%.

Wufang Optoelectronics specializes in the innovation of coating technology in the field of high-pixel cameras and has successively debuted 20 million pixels and dual camera blue glass components. The main products are filters. The products are mainly used in mobile phone cameras, security surveillance cameras, car cameras, etc. .

The data shows that Wufang Opto's existing customers are mainly concentrated in the smart phone manufacturing industry. The direct customers of the company are Sunny Optical Technology, Ofei Technology, Qiu Titanium Technology, Sunray Optoelectronics and other large camera module manufacturers. Mainly used in well-known brands such as millet, OPPO and VIVO.

7, Yaguang

ASG Optics Co., Ltd. ("AXE") disclosed its prospectus on the website of the China Securities Regulatory Commission. The company plans to publicly issue no more than 19.27 million shares in the Shenzhen Stock Exchange, and plans to raise funds of 418 million yuan for industrial control and automotive liquid crystal displays. Production line project, subdivision market customized optoelectronic display module production line project and R&D center construction project, sponsor institution is China Merchants Securities.

According to the data, ASG's main business is the design, development, production and sales of small and medium size liquid crystal displays and liquid crystal display modules. The main products are TN/STN liquid crystal displays, liquid crystal display modules and small and medium size TFT liquid crystal display modules. Group, among which, TN/STN products accounted for relatively high. On July 21, 2015, ASG was listed on the New Third Board.

In the years 2014-2016 and January-September 2017, ASG achieved revenue of RMB 312 million, RMB 385 million, RMB 398 million and RMB 378 million respectively. The net profit for the same period was RMB 31,010,100, RMB 61,025,700, and RMB 7,744.37 million. Yuanhe had 48,617,100 yuan. However, according to the performance report disclosed by ASG in the official website of the stock exchange system, the net profit performance of the company in the fourth quarter of 2017 does not seem to be very good. It decreased by 12.79% and the specific profit amount was 67,664,400 yuan.

GEM: Zhuo Sheng Microelectronics, Galaxy Microelectronics

8, Jiangsu Zhuosheng Microelectronics

Jiangsu Zhuosheng Microelectronics (hereafter referred to as Zhuo Sheng Wei) publishes a prospectus on the website of the China Securities Regulatory Commission. It plans to publicly issue no more than 25 million new shares on the GEM of the Shenzhen Stock Exchange, accounting for no less than 25% of the total shares after the issuance. The Zhuosheng Micro-IPO plans to raise approximately RMB 1.2 billion to raise funds to invest in 'RF filter chip and module R&D and industrialization projects', 'RF power amplifier chip and module R&D and industrialization projects', ' RF switch and LNA technology upgrade and industrialization projects', 'Connectivity MCU development and industrialization projects for IoT' and 'R&D center construction project'.

According to statistics, Zhuosheng Micro's main business is the research, development and sales of RF front-end chips. It mainly provides RF front-end chip products such as RF switches and RF low-noise amplifiers to the market, and provides IP authorization for mobile smart terminals such as smart phones. .

During the reporting period, Zhuosheng Micro's business scale achieved rapid growth. In 2014, 2015, 2016 and January-September 2017, the company’s main business income was RMB 43,700,800, RMB 11,093.23 million, RMB 385,520,930 and 48,019.29, respectively. The total assets of million yuan, the end of 2014, the end of 2015, the end of 2016 and the end of September 2017 were 31.5006 million yuan, 78.839 million yuan, 20806.77 million yuan and 348.56 million yuan respectively.

Currently, Zhuo Shengwei has developed into a major competitor in the RF front-end chip market in China, and has established a strong brand influence in the industry. The company's RF front-end chips are used by Samsung, Xiaomi, Huawei, Lenovo, Meizu, TCL and other terminal manufacturers. Of the products, which Samsung is the company's largest customer.

9, Changzhou Yinhe Century Microelectronics Changzhou Yinhe Century Microelectronics (hereinafter referred to as 'Galaxy Microelectronics') disclosed its prospectus on the website of the China Securities Regulatory Commission. The company plans to publicly issue no more than 31,933,400 shares on the Shenzhen Stock Exchange's Growth Enterprise Market and plans to raise funds of 316 million yuan. Of which, 50 million were supplemental liquidity, 117 million were invested in bridge rectifiers, power diode upgrades and technological transformation projects; the rest will be directed to patch diodes, triode upgrades and technical R&D center construction projects. It is understood that Galaxy Microelectronics The sponsor of the second IPO is CITIC Construction Investment.

According to public information, Galaxy Microelectronics is a professional supplier of semiconductor discrete device industry in China and a quality manufacturer of electronic device packaging and testing industry. The products are widely used in household appliances, power supplies and chargers, green lighting, networks and communications, Automotive Electronics, Smart Meters and Instruments etc. From a performance point of view, during the reporting period, Galaxy Microelectronics realized operating revenue of 559 million yuan, 525 million yuan and 546 million yuan, and net profit for the same period was 48,878,700 yuan, 41.86 million yuan and 4,006.67 yuan. Ten thousand yuan.

The prospectus shows that the growth of Galaxy Microelectronics' revenue was mainly due to patches other than axial products and other products. However, as terminal products such as LED lamps and lanterns, the price of 3C products continues to decline, customers have certain price reduction requirements for the company's products. 2014 - At the end of 2016, the sales prices of the Company's patch and other products were RMB 54.03/1,000, RMB 51.17/1000, and RMB 48.97/1000 respectively, which showed a slight downward trend; due to certain cost rigidity, the price of such products was low. Interest rates also fell slightly with product prices. The reporting period was 28.60%, 27.33% and 6.24% respectively.

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