Founded in 2005, Jingsai Technology is a high-tech enterprise engaged in the design, research and development, production and sales of quartz crystal oscillator and packaging materials, and the company has won the honors of national high-tech enterprise, innovative enterprise in Anhui Province, new small and medium-sized enterprise in Anhui Province, and provincial-level certified enterprise technology center.
On October 25, 2021, Anhui Jingsai Technology Co., Ltd. (hereinafter referred to as "Jingsai Technology") publicly issued shares to unspecified qualified investors and held an online roadshow listed on the selected layer in China Securities News and China Securities Network.
Roadshow guests
Hou Shiyi, chairman and general manager of Anhui Jingsai Technology Co., Ltd
Hou Xue, director and secretary of the board of directors of Anhui Jingsai Technology Co., Ltd
Ding Man, head of finance of Anhui Jingsai Technology Co., Ltd
Liao Shengzhu, vice president and party committee member of Guoyuan Securities Co., Ltd
Guoyuan Securities Investment Bank Headquarters Managing Director, Sponsor Representative Gao Zhen
Guoyuan Securities Co., Ltd. sponsor representative Xu Ming
Hou Shiyi, chairman and general manager of Anhui Jingsai Technology Co., Ltd., made a promotional speech
Liao Shengzhu, vice president of Guoyuan Securities Co., Ltd. and member of the Party Committee, made a presentation speech
Hou Xue, director and secretary of the board of directors of Anhui Jingsai Technology Co., Ltd., made a concluding speech
Online roadshow exchange scene
Company Profile
Jingsai Technology focuses on the design, development, production and sales of quartz crystal oscillators and packaging materials. The company's main quartz crystal oscillator products are frequency components made of quartz crystal piezoelectric effect, known as the "heart of digital circuits", widely used in communication networks, mobile terminals, Internet of Things, automotive electronics, smart homes, household appliances and other fields.
Since its inception in 2005, through independent research and development, the company has mastered a series of core technologies of quartz crystal oscillator and packaging material products, with more than 40 independent intellectual property rights, of which 9 national invention patents, 28 utility model patents, 4 software copyrights, and passed the ISO9001 international quality management system, ISO14001 environmental management system and IATF16949 automotive industry quality management system certification, laying a good technical foundation for the company's further development. After nearly 20 years of development, Jingsai Technology is currently in the first echelon of the industry, with strong competitiveness and certain growth.
The funds raised by Jingsai Technology's public offering of shares to unspecified qualified investors will be invested in the project of ultra-small, high-precision SMD quartz crystal resonators with an annual output of 1 billion and the construction of R&D centers. In the future, the company will adhere to innovation as the starting point, information technology as the means, and quality system as the guarantee, and continue to deepen the research and development and manufacturing of quartz crystal frequency components to ensure the rapid, healthy and sustainable development of the enterprise. In the new round of communication technology upgrading and industrial change, we will strive to become an international advanced supplier of quartz crystal oscillators.
Release Overview
Securities abbreviation: Jingsai Technology
Stock code: 871981
Release code: 889998
Issue size: Initial number of shares to be issued is 11,878,300 shares (excluding over-allotment options)
Issue price: 18.32 yuan / share
Issue Date: October 26, 2021
Payment date: 26 October 2021
Roadshow Q&A highlights
1. Please briefly describe the role of the quartz crystal oscillator of the company's products.
A: Quartz crystal oscillator is a frequency component made by using the piezoelectric effect of quartz crystals, which can generate stable pulses and provide a reference frequency signal for the microchip. The reference frequency signal generated by the quartz crystal oscillator is mainly used for wireless data transmission and clocking. Quartz crystal oscillator is widely used in various types of frequency control, frequency stability, frequency selection and timing systems, especially suitable for electronic products with high frequency accuracy requirements, such as communication networks, mobile terminals, Internet of Things, automotive electronics, smart home, household appliances and other fields, is an indispensable basic component of various electronic products.
2. What is the composition of Jingsai Technology's operating income? How is the main business income classified by product or service?
A: During the reporting period (2018 to June 2021, the same below), the company's main business income accounted for 95.32%, 97.56%, 95.10% and 92.84% of the operating income, respectively, and other business income included waste and material sales revenue, mainly for encapsulated materials, which were 4.68%, 2.44%, 4.90% and 7.16% respectively.
During the reporting period, the company's main business income consisted of quartz crystal oscillators and packaging materials, and the amount of quartz crystal oscillator income was 135.5835 million yuan, 166.4907 million yuan, 242.3189 million yuan and 152.3867 million yuan, accounting for 71.32%, 74.56%, 79.09% and 74.75% of the main business income, respectively; the amount of packaging material income was 54.5216 million yuan, 56.8024 million yuan, respectively. 64.0657 million yuan and 51.4825 million yuan, accounting for 28.68%, 25.44%, 20.91% and 25.25% of the main business income, respectively.
During the reporting period, the company's main business income growth came from the quartz crystal oscillator business, and the income of the packaging materials business was basically stable. The reasons for the growth of Jingsai Technology's quartz crystal oscillator revenue are: (1) due to the rapid development of 5G technology, Internet of Things, etc., the demand for downstream industries has increased; (2) under the influence of uncertain external factors such as de-globalization, trade frictions, and the new crown epidemic, the localization process has accelerated, and domestic enterprises have partially turned to domestic procurement; (3) in the above context, the company has continuously expanded its quartz crystal oscillator production capacity, and product sales have increased year by year.
3. What is the composition of Jingsai Technology's gross profit according to the classification of products or services? What is the gross profit margin of the main business by product or service classification?
A: During the reporting period, the company's total gross profit was 52.1741 million yuan, 52.8724 million yuan, 77.7439 million yuan and 54.706 million yuan, respectively, of which the gross profit of the main business was 50.9115 million yuan, 50.7712 million yuan, 75.7337 million yuan and 54.3254 million yuan, accounting for 97.58%, 96.03%, 97.41% and 99.30% respectively, and the gross profit of other businesses was 1.2626 million yuan and 2.1012 million yuan, respectively 2.0102 million yuan and 380,600 yuan, accounting for 2.42%, 3.97%, 2.59% and 0.70% respectively. The company's gross profit mainly comes from the main business.
During the reporting period, the gross profit of the company's crystal oscillator business was 35.5474 million yuan, 37.675 million yuan, 60.9045 million yuan and 41.2637 million yuan, accounting for 68.13%, 71.26%, 78.34% and 75.43% of the total gross profit, respectively, and the gross profit of the packaging materials business was 15.364 million yuan, 13.0962 million yuan, 14.8291 million yuan and 13.0617 million yuan, accounting for 29.45% of the total gross profit, respectively. 24.77%, 19.07% and 23.88%. The gross profit and proportion of the crystal oscillator business grew rapidly.
During the reporting period, the gross profit margin of the company's main business was 26.78%, 22.74%, 24.72% and 26.65%, the gross profit margin of the quartz crystal oscillator business was 26.22%, 22.63%, 25.13% and 27.08%, respectively, and the gross profit margin of the packaging materials business was 28.18%, 23.06%, 23.15% and 25.37%, respectively.
4. Please briefly describe the advantages of fine management of Jingsai Technology.
A: The mass production of quartz crystal resonators requires refined management capabilities. Based on years of operation practice, the company has an excellent, stable and experienced management team, has accumulated rich experience in the refined management of production, and established a complete system of professional management system. Focusing on the four refined management requirements of "precise responsibilities, standardized process, humanized management, and meticulous assessment", the enterprise information management has been fully implemented, and the information system such as the invoicing and inventory management system, production plan and control system, equipment management system, quality control system, human resource management system and financial management system has been built to achieve rapid market response, real-time quality control, and continuous improvement. Through the continuous and in-depth development of refined management, the company's product direct rate, equipment utilization rate and per capita output have ranked at the leading level in the same industry in China for many consecutive years.
5. What is the correlation analysis between the investment project of the raised funds and the company's current main business?
A: The company is mainly engaged in the design, research and development, production and sales of quartz crystal oscillators and their packaging materials. The investment projects of this fund-raising are all carried out around the company's main business. Among them, the annual output of 1 billion ultra-small, high-precision SMD quartz crystal resonator project can further optimize the quartz crystal oscillator product structure, expand the business scale, enhance market share; R & D center construction project can enhance the company's R & D and design capabilities and innovation capabilities.
Editor: Cao Shuai