Jiwei Network reported that on April 8, according to the results of the 19th review meeting of the Listing Committee of the ChiNext Board of the Shenzhen Stock Exchange in 2022, the IPO of Weifeng Electronics (Guangdong) Co., Ltd. (hereinafter referred to as Weifeng Electronics) on the ChiNext Board was successfully held.
However, the GEM Listing Committee also raised inquiries. Weifeng Electronics is required to combine the changes in operating income, net profit and gross profit margin of comparable companies in the same industry to explain the reasons, rationality and sustainability of the company's rapid performance and high gross profit margin during the reporting period.
According to the data, Weifeng Electronics is committed to providing high-end precision connector products and solutions, specializing in the research and development, design, production and sales of industrial control connectors, automotive connectors and new energy connectors, and the products can be widely used in industrial control and automation equipment, new energy vehicle "three electricity" systems, photovoltaic inverter systems and other application scenarios.
Connectors are an indispensable basic component in electronic equipment and play a key role in the quality and performance of electronic equipment. The company's main products have reached the same technical level of international first-class manufacturers, providing high-end precision connectors and overall solutions for many well-known enterprises at home and abroad.
At present, Weifeng Electronics has formed a development pattern with industrial control connectors as the main body and automobile and new energy connectors as the two wings, especially in the field of industrial control connectors, which is at the leading level in China, and is a representative enterprise of industrial control connector localization. The company has passed the United States UL, Canada CUL safety certification, and the United States UL witness laboratory certification, the products comply with the EU RoHS and REACH environmental protection directives, and obtained the automotive industry IATF16949 quality management system certification. Under the business model of customizing customer needs and product production platform, the company will combine existing technical reserves and customer resources, actively grasp the opportunity of localization substitution, use its own cost advantages and localization service advantages to continuously improve market share, and continue to maintain competitiveness.
In the field of industrial control, Weifeng electronic products can be applied to servo motors, programmable logic controllers (PLCs), robotic arms, industrial computers and other industrial control and automation equipment, corresponding customers include Huichuan Technology, Delta Electronics, Tyco Electronics and other industrial control equipment and component manufacturers. Industrial control and automation equipment has been operating uninterruptedly in the vibration and noise environment for a long time, and some of them also involve non-contact connections such as photoelectric sensing and electromagnetic coupling, with complex and diverse application scenarios and high cost of parts maintenance or replacement. This places high demands on the reliability and durability of industrial control connectors.
In the automotive field, the company's products can be applied to the battery, motor and electronic control system (referred to as the "three electric system") at the core of new energy vehicles, as well as in-vehicle media equipment, high-definition imaging systems, etc., and the corresponding customers include BYD, SAIC, Aptiv and other vehicle and parts manufacturers. Automotive connectors need to pay attention to the data transmission between people and vehicles in the driving state, including feedback on changes in the traffic environment, and performing various operating instructions of the driver. Therefore, the stability of the connector has become one of the important indicators of safety performance. At the same time, automotive connectors also need to match the high integration, high precision and lightweight standards proposed by automobile manufacturers to reduce the energy consumption of the whole vehicle.
In the field of new energy, the company's products are mainly used in solar and wind energy inverter systems, corresponding to customers including solar power, Goodway, Solaredge and other inverters and other accessories manufacturers. Inverters mainly play a current conversion function in new energy systems, and continuous current carrying can easily lead to accelerated aging of components. The high electrical and mechanical properties of the connectors are particularly important. At the same time, uncertain factors such as animal impact and weather impact under outdoor conditions also challenge the anti-interference ability of new energy systems. Therefore, while effectively handling electrical signals, new energy connectors often need to take into account the characteristics of corrosion resistance, anti-leakage and facing the complex and changeable outdoor climate environment.
(Proofreading/Lee)