Billion State sells Bitcoin mining machines under the brand “Wing Bit”, which accounted for approximately 94.6% of the revenue of the previous year. It also engages in the production, production, sales of data communications and optical fiber transmission systems. Revenue from telecommunications equipment accounts for approximately 5.4%. Preliminary documents showed that its market share accounted for 11.0% of sales revenue last year. It ranks among the world's top three mining machine makers for bitcoin mining. Yibang Communication, a subsidiary of the company, was listed on the New Third Board and was announced earlier this year. Delisting due to plans to go public overseas.
As of the end of last year, billion state revenue reached 978 million yuan, up more than 7 times year-on-year; net profit also rose 29.36 times year-on-year to 377 million yuan. The fund-raising income is expected to be used for the development of miner, 5G products, and New production facilities in Zhejiang and Inner Mongolia.
The prospectus quoted the iResearch data report that Yibang International sold 158,798 BPUs in 2017, with a market share of 11.0%, which was recorded as 10.9% based on the sales force (1,380,369TH/s).
The average selling price of BPU sold as of December 31, 2017 was RMB 649 per TH/s. Thanks to strong BPU sales, Yibang International’s revenue from blockchain business grew from 29.2 million yuan in 2015. Over 30 times to 2017 9.254 billion yuan.
The blockchain business accounted for 31.7%, 42.8%, and 94.6% of the total revenue for 2015-2017, respectively. The gross profit margin was 54.9%, 47.8% and 53.9%, respectively.
In the past three years, Yibang International's annual profit was 24.2 million yuan, 11.1 million yuan and 385 million yuan respectively. The decrease in profit in 2016 was mainly due to the increase in R&D expenditure, hiring more R&D personnel and increasing investment in the development of new types of areas. Block chain products.
Previously, peer company Canaan Inc. submitted a listing application in May this year. Bitmain, another industry leader, also reportedly intends to list in Hong Kong. It is expected that the three companies together accounted for more than 90% of the global virtual currency mining market. Share.