On March 30, Shenzhen Fei Rongda Technology Co., Ltd. (hereinafter referred to as “Fei Rongda”) proposed to “issue A shares to specific objects in 2022” The application was accepted by the Shenzhen Stock Exchange.
It is understood that Fei Rongda is a leading supplier of electromagnetic shielding and thermal management solutions in China, mainly engaged in the research and development, design, production and sales of electromagnetic shielding materials and devices, thermal conductive materials and devices, base station antennas and related devices, and protective function devices. , the main downstream applications of the products cover consumer electronics, communication equipment, household appliances, new energy vehicles, etc. The raw materials purchased externally mainly include metal materials, tapes, films and release materials, antenna materials, plastics, foam, conductive fabrics, graphite, silica gel, etc. The market supply is sufficient. The company purchases at market prices, but there are many types and models of purchases. , the price difference between them is also large.
In addition, during the reporting period, affected by the spread of the global new crown epidemic, the global consumer electronics and other industrial chains were affected, and the market demand for Fei Rongda related products fluctuated. At the same time, the company has actively carried out business integration, aiming at the huge development opportunities in the field of new energy, successfully developed a series of products, and vigorously promoted the layout of the new energy market. With the diversified development of products and changes in product structure, the types of raw materials purchased by Fei Rongda have expanded, and the proportion of different raw materials in operating costs has also changed accordingly. Fei Rongda electromagnetic shielding materials and devices, thermal conductive materials and products with high unit value, such as metal shielding devices, heat dissipation modules, semi-solid die casting, etc., mainly purchase metal materials. From January to September in 2020 and 2021, Fei Rongda purchased a relatively high amount of metal materials, mainly due to the increase in the above-mentioned product orders with higher unit value, and the total revenue of electromagnetic shielding materials and devices and thermal conductive materials and devices also increased.
In terms of 5G communication business, Fei Rongda mainly purchases antenna materials. During the reporting period, the proportion of the amount purchased by Fei Rongda for antenna materials increased year by year, mainly due to the increase in the market demand for 5G communication and the increase in production demand for related products.
The downstream application field is consumer electronics products, and the main procurement materials are tapes, films and release materials. During the reporting period, the proportion of the amount of tapes, films and release materials purchased by Fei Rongda also decreased year by year, mainly due to the spread of the global new crown epidemic. Due to the impact of the Sino-US trade war, the consumer electronics business of downstream customers has been affected to a certain extent, and the sales of related products of enterprises have declined.
The amount of funds raised this time is 1 billion yuan (including this amount), which will be used for the construction project of the South China Sea production base, etc.
The total amount of funds raised by the issuance of A shares to specific investors will not exceed 1 billion yuan (including this amount), which will be used for the following projects after deducting issuance expenses:
The Nanhai production base construction project is implemented in Nanhai District, Foshan City. The construction period is 3 years, and it will start production in the third year. It is planned to reach production in three years according to the progress of 30%, 70% and 100%. After reaching production, 660,000 sets of energy storage modules will be formed. , 660,000 sets of energy storage chassis shells, 1.32 million sets of energy storage chassis panels, 396 million sets of connecting pieces, 720,000 sets of liquid cooling plates, and 360,000 sets of battery pack covers.
After the project is fully put into production, it is expected to achieve an average annual operating income of 2.076 billion yuan and an average annual net profit of 170 million yuan during the forecast period. The average comprehensive gross profit rate during the project forecast period is 18.65%, while the company’s comprehensive gross profit rate 25.08%, the project benefit is good.
At present, Fei Rongda is close to full-load production and faces a relatively significant capacity bottleneck. Under the circumstance of ensuring the supply of products in the above-mentioned traditional business markets, the company will also need to develop new energy vehicles, new energy energy storage systems, communication energy storage systems, etc. In the fields of photovoltaic inverters and other fields, the quality and quantity can meet the supply needs of partners. Therefore, Fei Rongda urgently needs to build a new production base and expand the production capacity of related products.
In addition, according to data from the Toubao Research Institute, the scale of my country’s photovoltaic inverter market in 2020 is 6.800 billion yuan, and it is expected that by 2025, the scale of my country’s photovoltaic inverter market will reach 20.600 billion yuan. Therefore, as a leading company in electromagnetic shielding and thermal management solutions in China, Fei Rongda needs to fully grasp the development opportunities of new energy vehicles, energy storage industry, photovoltaic inverters and other industries, and increase investment in the above fields, so as to strengthen the company The development potential of the main business.
Fei Rongda pointed out that the component products to be produced in the project have a broad market space in the fields of new energy vehicles, energy storage, photovoltaic inverters, etc., which can reduce the dependence of Fei Rongda’s main business on consumer electronics and other markets, thereby Effectively enhance the anti-risk ability of the company’s overall operation.