Lei Jianping on October 13
Guangdong Jinko Electronics Co., Ltd. ("Jinko Electronics") was filed with the China Securities Regulatory Commission (CSRC) for IPO at the end of September 2024 and is preparing to list on the Hong Kong Stock Exchange.
Jinko Electronics submitted its prospectus in February 2024, which is the first time in 7 months that it has obtained IPO filing.
Jinko Electronics had sprinted to list on the STAR Market in December 2019, but voluntarily withdrew its listing application in May 2020.
The annual revenue is 1.858 billion
Jinko Electronics is a provider of intelligent vision products and system solutions that integrate "LED+" technology. Jinko Electronics' expertise covers automotive smart vision, high-end lighting, and new displays.
Jinko Electronics combines LED technology with integrated circuits, electronic controls, software, sensors and optics to create a variety of "LED+" technologies. Jinko's green, energy-saving, and high-speed "LED+" technology further empowers Jinko's smart vision products and systems.
According to the prospectus, Jinko Electronics' revenue in 2021, 2022, and 2023 will be 1.388 billion, 1.41 billion, and 1.858 billion yuan respectively; gross profit was 228 million, 235 million and 339 million respectively; The profits during the period were 78 million yuan, 39.07 million yuan and 72.04 million yuan respectively.
Jinko Electronics' revenue for the first five months of 2024 was 843 million yuan, compared with 625 million yuan in the same period last year, gross profit was 154 million yuan, compared with 104 million yuan in the same period last year, and profit for the period was 32.17 million yuan, compared with 7.56 million yuan in the same period last year.
Jinko Electronics' adjusted net profit in 2021, 2022, and 2023 will be 79.67 million yuan, 40.77 million yuan, and 81.82 million yuan, respectively; Adjusted net profit for the first five months of 2024 was $46.84 million, compared to $8.29 million for the same period last year.
As of May 31, 2024, Jinko Electronics had cash and cash equivalents of $280 million.
Xiao Guowei controls 47% of the shares
The executive directors of Jinko Electronics are Xiao Guowei, and the non-executive directors are Chen Zhenghao, Yuan Liming, Wu Nanyang and Zheng Xin; The independent non-executive Directors are Ms. Zhang He (formerly known as Zhang Xiaomiao), Ms. Lin Nan, Ms. Ding Hui and Chen Zhiguang.
On 8 December 2023, Microcrystalline Advanced Optoelectronics, Jingyu Investment, Jingling Investment, Jingrui Investment and Jingshi Investment entered into a concert party agreement to form a concert party relationship.
Accordingly, Siu Kwok Wai, Chan Ching Ho and Yuen Lap Ming, APTESS, Giant Power, together with Ms. Lo Mei Leung, Microcrystalline Advanced Optoelectronics, Jingyu Investment, Jingling Investment, Jingrui Investment and Jingshi Investment are acting in concert with respect to their interests in the Company. As at the Latest Practicable Date, the Group of Persons Acting in Concert collectively directly and indirectly owned approximately 47.11% of the total share capital of the Company.
Chan Ching-ho and Ms. Lo Mei Leung are husband and wife.
Before the IPO, Microcrystalline Advanced Optoelectronics held 40.58% of the shares, Jingyu Investment held 2.83% of the shares, Jingshi Investment and Jingling Investment held 1.32% of the shares, Jingrui Investment held 1.06% of the shares, Yaoning Technology held 13.76% of the shares, Yueke Investment held 4.76% of the shares, Dingdekai held 3.77% of the shares, Glorious Alliance held 2.41% of the shares, Fan Wuzhou held 2.21% of the shares, and China Insurance Industry held 2.01% of the shares;
Zhongke Baiyun holds 1.99% of the shares, Ye Zhiyu and Xi'an Jiao Tong Kechuang hold 1.88% of the shares, Guangdong Science and Technology Venture Capital holds 1.74% of the shares, Gaoser holds 1.6% of the shares, SME Fund holds 1.56% of the shares, Guangdong Cai Yuanhe and Yuecai Xinxing hold 1.54% of the shares respectively, Shidia holds 1.4% of the shares, and Gao Tao holds 1% of the shares;
Jingyu Optoelectronics holds 0.94%, Haohan Optoelectronics holds 0.84%, Guan Maoyuan holds 0.67%, Gui Fan and Jiaoying No. 1 hold 0.6% respectively, Jiamu Fusion holds 0.5%, Zhou Baiyun holds 0.44%, Wang Qi, He Jinchun, Gu Wenjun hold 0.4%, Lai Canwei holds 0.37%, and Fengsheng Investment and Foresight Capital hold 0.34% respectively.
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