原始标题：在首次公开募股前夕，一个客户突然持有股份，并贡献了70％的收入。 该IPO“重新阅读器”能否再次进入科学技术委员会？
概括
[OntheeveoftheIPOasingleclientwhomadeasurpriseshareholdingcontributed70%oftheincomeCanthisIPO”re-student”enterthesci-techinnovationboardagain?】TheroadtolistingisnotallsmoothsailingIftheIPOisunsuccessfulthechoiceofsomecompaniesisto”fightagain”AccordingtotheofficialwebsiteoftheShanghaiStockExchangeGuangdongLiyuanhengIntelligentEquipmentCoLtd(hereinafterreferredtoas”Liyuanheng”)willattendanIPOmeetingonMarch17andacceptthedeliberationoftheScienceandTechnologyInnovationBoardListingCommittee
The road to market is not all smooth sailing.
If the IPO is unsuccessful, someenterpriseThe choice is to “fight again”.
According to the official website of the Shanghai Stock Exchange, Guangdong Liyuanheng Intelligent Equipment Co., Ltd.the company(Hereinafter referred to as “Li Yuanheng”) will IPO on March 17Go to the meeting,acceptScience and Technology Innovation BoardDeliberation by the Listing Committee.
In this application for listing, the company intends to raise 795 million yuan for industrial userobotIntelligent equipment production projects, industryrobotIntelligent equipment R&D center project and supplementary working capital.
The special beginning of this sci-tech innovation board company is that it has reached the stage of submitting registration applications in 2019, but it still “falls” in the last step of listing.
The first batch of applications for listing on the Science and Technology Innovation Board “Zhe Ji”
Public information shows that the company’s sci-tech innovation board application was accepted by the Shanghai Stock Exchange in March 2019. However, as one of the first companies to apply for listing on the Science and Technology Innovation Board, Lyricon’s IPO has not gone smoothly.
In May 2019, due to the organization of the club, Guangdong Zhengzhong ZhujiangaccountingInfluenced by the investigation by the Securities Regulatory Commission, Li Yuanheng was “forced” to temporarily interrupt the listing process, and was able to continue “queuing” after obtaining the “Review Report”; in June of the same year, the company’s sci-tech innovation board had an IPO meeting. Subsequently, the registration application was submitted, but three months after the registration was submitted, Lyrics finally withdrew the listing application on the Science and Technology Innovation Board.
We don’t know the reason behind the withdrawal, but when questioned at that time, the Shanghai Stock Exchange pointed out that Li Yuanheng had irregular financial content:”During the reporting period, the company has a third partyCollection of money, On-lending, capitalBorrow, Use personal accounts to collectpaymentPayment of fees and third partiesPay backAnd so on”。
As of the signing date of the prospectus, the actual controllers of the company are Zhou Junxiong and Lu Jiahong, who together control 70.08% of the company’s total share capital before the issuance. On the surface, there is no dispute over the actual controller of the company, but the issue of its family shareholding has been questioned by the supervisory authorities.
The reporter learned that at the beginning of Li Yuanheng’s establishment, in addition to Zhou Junxiong and Lu Jiahong’s investment, Zhou Junjie (the cousin of the actual controller Zhou Junxiong) also participated in the investment.However, in the 2015 equity transfer, due to Zhou JunjiebankIf there is not enough funds in the account, he told his brother Zhou JunhaoborrowRMB 650,000, and Zhou Junxiong and Lu Jiahong also provided Zhou Junjie withEquity transferThe purpose of the loan is to fund Zhou Junjie for his personal and family purposes.
In response to an inquiry from the Shanghai Stock Exchange, the company explained thatshareholderZhou Junjie has repaid the loan, and there is no substitute for Zhou JunhaoTransfereeSituation.
As for financial irregularities, the prospectus pointed out that the third-party accounts controlled by the actual controller Lu Jiahong are mainly fund transactions with Zhou Junxiong, Zhou Junjie, Zhou Junhao and others; at the end of 2017, the company will adjust the collection of goods and the payment of the issuer’s fees. Entered into the account, cleared Lu Jiahong’s dealings with others through the account and cancelled the account.
It needs to be pointed out that the company received surprise shares from many shareholders during the period from withdrawing the application to preparing to go public again.
According to disclosures, in March 2020, Li Yuanheng carried out two capital increase and introducedSonghe Innovation, Songhe Chuangzhi, Jinpu Venture Capital, Advanced Investment, Kunshi CapitalAnd other external institutional investors.Through these two capital increases, the company has obtained up to 280 million yuan in new investment funds, of which the newly paid-in capital is 6 million yuan, and the capital premium is calculated asInvest inThe provident.
High customer concentration
According to reports, Li Yuanheng was established in 2014, mainly engaged in the research and development, production and sales of intelligent manufacturing equipment, providing high-end equipment and factory automation solutions for lithium batteries, auto parts, precision electronics, security and other industries; the companyproductIncluding lithium battery manufacturing equipment, auto parts manufacturing equipment and other industry manufacturing equipment.
So, what changes have been made by Lynx, who has “passed through” the Sci-tech Innovation Board for the second time, after obtaining surprise shares from outside shareholders?
The draft of the previous meeting showed that from 2017 to 2019 and the first three quarters of 2020 (hereinafter referred to as the “reporting period”), LyricOperating income400 million yuan, 672 million yuan, 889 million yuan, 967 million yuan, corresponding toNet profitThey were 35.815 million yuan, 127 million yuan, 93.0865 million yuan and 91.542 million yuan respectively.
not difficult to see,The company’s total revenue in 2019 has increased, butNet profitBut fell. In this regard, Li Yuanheng said that the main reason was the large increase in research and development expenses, and the increase in management and sales expenses (the company’s research and development investment rose from 73.06 million yuan in 2018 to 126 million yuan in 2019).
The prospectus also shows that in 2020, the company will achieve operating income of 1.43 billion yuan.Year-on-yearAn increase of 60.87%;Net attributable to shareholders of the parent companyprofit140 million yuan, a year-on-year increase of 50.89%; net profit attributable to the parent after deduction was 125 million yuan, an increase of 65.8 percentage points over the same period before.
inPerformanceBehind the growth, the IPO Daily noted that this characteristic of the concentration of corporate customers still exists.
During the reporting period, Lyric’s sales revenue to the top five customers (including companies under the same control) accounted for 89.45%, 93.91%, 95.79%, and 82.79% of operating revenue, respectively, which is characterized by high customer concentration.The five largest customers once accounted for more than 90% of its revenue.
Among them, the company’s sales revenue from new energy technology to its largest customer accounted for 77.76%, 67.39%, 74.44%, and 59.85% of operating revenue, respectively, accounting for relatively high proportions, and there is a risk of dependence on the largest customer.
This makes people wonder: If the new energy technology reduces the investment in equipment assets in the future, and the company cannot continue to obtain new energy technology orders, what measures will Lyrics take?
(Source: IPO Daily)
(Editor in charge: DF515)
Solemnly declare: The purpose of this information is to spread more information, and it has nothing to do with this stand.