Written by | Huang Gaohang
Edit | Jane
Shaanxi's "Light Chasing Plan" does not stop!
Torch Technology as a "photonic industry chain" on-chain enterprises just passed the meeting, as one of the 20 companies on the chain, Wright Optoelectronics also followed up.
On the 1st, at the 80th Listing Committee Review Meeting of the Science and Technology Innovation Board of the Shanghai Stock Exchange in 2021, the first launch of Lite Optoelectronics from Xi'an High-tech Zone passed smoothly, which means that on the first day of November, Shaanxi will welcome the 69th listed company and the 10th science and technology innovation board company.
In addition, Lite Optoelectronics is the 34th listed company in Xi'an High-tech Zone (domestic), and the 6th science and technology innovation board.
<h1 class="pgc-h-center-line" data-track="13" > raised 1 billion: 700 million to build the Chang'an Communication Park project</h1>
Lite Optoelectronics was established in February 2010, the registered capital of 362 million yuan, the address is located in Xi'an High-tech Zone Longfeng Road, mainly engaged in OLED organic materials research and development, production and sales, is a production, education and research integration company. This year, it has been selected into the Ministry of Industry and Information Technology's national key specialty new "Little Giant" and the 2021 Xi'an Ganmen List TOP20 list.
According to the prospectus, Wright Optoelectronics OLED organic material products include OLED terminal materials and OLED intermediates, and the current mass-produced OLED terminal materials are mainly Red Prime materials and hole transport layer materials in the light-emitting layer materials.
Lite Optoelectronics cooperation customers are mainly domestic OLED panel leaders, including BOE, Huaxing Optoelectronics and Hehui Optoelectronics, etc., for these companies to supply OLED terminal materials in batches, of which, is the exclusive domestic supplier of BOE and Huaxing Optoelectronics Red Prime materials, is the only supplier of Hehui Optoelectronics tablet series Red Prime materials. Samsung and LG are also corporate customers.
According to financial data, from 2018 to 2020, the operating income of Lite Optoelectronics was 112.4404 million yuan, 201.7986 million yuan and 274.6279 million yuan, and the corresponding net profit attributable to the mother was -8.8368 million yuan, 65.8263 million yuan and 70.6777 million yuan, respectively, and the scale of revenue and profitability were increasing year by year.
The OLED organic materials industry where Lite Optoelectronics is located is technology-intensive, and the requirements for technology research and development innovation are very high, and it must keep up with customer needs and the iterative rhythm of industry upgrading, so the company adheres to the business model with research and development as the core.
Let's focus on R&D costs. The prospectus discloses that from 2018 to 2020, the company's research and development expenses were 10.9999 million yuan, 18.3801 million yuan and 29.4509 million yuan, respectively, increasing year by year, accounting for 9.78%, 9.11% and 10.72% of the revenue of the year, respectively.
At the end of the fundraising project, Lite Optoelectronics intends to raise 1 billion yuan this time, of which 700 million yuan will invest in the construction of OLED terminal material research and development and industrialization projects in chang'an Communication Industrial Park, high-tech zone, and will add 15 tons of OLED terminal material production capacity after reaching production, and another 300 million yuan will be used to supplement working capital.
<h1 class="pgc-h-center-line" data-track="79" > Shaanxi Financial Holdings: 5 funds to help "chase the light"</h1>
At the shareholder level of the company, financial lollipops focus on the following digits.
1: Shaanxi Financial Holdings: The cumulative shareholding ratio is 2.69%, the reason why it will be concerned is because the financial lollipop notes that as many as 5 funds under Shaanxi Financial Holdings participate in the investment, namely Shaanxi High-end Equipment Manufacturing Zhishou Investment Fund, Shaanxi Supply and Marketing Cooperative Development Venture Capital Fund, Xi'an Modern Service Industry Development Fund, Xi'an Zhishoujuncheng Venture Capital Fund and Shaanxi New Materials High-tech Venture Capital Fund.
The first three funds entered the company in November 2017, investing 20 million yuan, 30 million yuan and 50 million yuan respectively; the corresponding number of shares held was 4.0608 million shares, 6.0912 million shares and 10.152 million shares; Zhishou Juncheng Venture Capital Fund entered in August 2018 with an investment amount of 5.64 million yuan and held 1.222 million shares, and the last one entered in August 2019, investing 6.0299 million yuan and holding 650,000 shares.
Cumulatively, it can be seen that Shaanxi Financial Holdings holds a total of 9.7568 million shares of Lite Optoelectronics, with an initial investment amount of 49.066 million yuan and a total shareholding ratio of 2.69%.
The relevant person in charge of Shaanxi Financial Holdings told financial lollipops that Shaanxi Financial Holdings focuses on new materials, high-end equipment, new energy, electronic components, etc., focusing on supporting high-precision and special new enterprises with major technological innovations and breakthroughs in foreign monopoly technologies, especially for shaanxi local high-quality enterprises.
2: BOE: As the largest customer of Lite Optoelectronics, BOE indirectly holds 2.97% of the shares. In our view, this "shareholder + customer" structure, for Lite Optoelectronics, is so deeply nested with the national leader, which not only strengthens the synergy effect between the two sides in the industry, but also enhances the long-term stability of future performance.
3: Shaanxi Travel Group and Changan Huitong: Shaanxi Tourism Group Investment Management Company invested 3 million yuan through the 0.74% of the shareholding company Ruipeng Tongde, behind the former, is THE CICC Travel Investment Holding Company, further penetration will see Shaanxi Travel Group and Changan Huitong. In this regard, it should be introduced that CICC, as the investment section of Shaanxi Travel Group, is currently comprehensively increasing its efforts in the venture capital industry, while the purpose of Changan Huitong is to accelerate the maturity of advantageous industries.
Combining the figures of these major shareholders, financial lollipops believe that everyone is unanimously optimistic about the "Shaanxi Light Chasing Plan".
Among the 23 industrial chains promoted by the provincial party committee and the provincial government, the "photonic industry chain" is one of them (for details, see "Shaanxi "Industrial Strong Base" Continued: Matching 30 "Gold Lords" for 17 "Chains"), with Hu Henghua, deputy secretary of the Provincial Party Committee, as the "chain chief", which shows the depth of Shaanxi's hopes. And Wright Optoelectronics is one of the 20 enterprises on the "chain", the company's products not only have independent patents, but also break the monopoly of foreign countries, representative companies have become Shaanxi Financial Holdings and other local institutions "chasing the cursor", it is more appropriate. The smooth passing of Wright Optoelectronics is precisely an important positive incentive.
<h1 class="pgc-h-center-line" data-track="81" > provinces and municipalities: the third-level synergy "14th Five-Year Plan"</h1>
As of the end of September this year, Shaanxi ranked 12th in the country with the number of 6 science and technology innovation board companies, if you add the number of companies that have not been issued, the cumulative number of 10 can actually rank in the top 10 in the country, second only to Sichuan in the western region and the first in the northwest region.
Behind the "good results", it is naturally inseparable from the "three-level linkage" of the provinces and municipalities.
For example, in the list of 300 listed reserve enterprises in Shaanxi Province in 2021 released by the Provincial Financial Bureau in April this year, Wright Optoelectronics appeared in the first place in the list.
At the end of August, Xi'an City just issued the "Implementation Plan on Further Improving the Quality of Listed Companies", which set up fourteen measures in five aspects, such as the overall requirements, supporting the listing and financing of high-quality enterprises, and supporting listed companies to become bigger and stronger, so as to promote the city's listing work to "go to a higher level".
In March 2019, the Financial Office of Xi'an High-tech Zone released a list of 28 enterprises preparing to be listed on the Science and Technology Innovation Board, and founding companies such as Wright Optoelectronics, Juguang Technology, and Xinyao Ceramics were selected, and the financial lollipop article "High-tech Financial Dynamics No. 2 丨 Bottom Up "28+": High-tech "Science and Technology Innovation Board" Beach-Grabbing Troops Exposed" was recorded.
Not long ago, Xi'an Xi'an High-tech Zone issued the "Xi'an High-tech Zone "Three Entrepreneurship" Series of Preferential Policies", which continued to increase the "listing incentives", increased the bonus to 12 million, unprecedented, in a phased way to reduce the burden of funds in all aspects of the enterprise, encourage more enterprises to move towards the capital market.
It is reported that the next "Xi'an High-tech Zone to promote the high-quality development of listed companies a number of policies and measures" will be released soon, soon to meet with the public, the policy focuses on the cultivation of reserve enterprises, the transformation and upgrading of listed companies and the optimization of the service guarantee system and other dimensions, aiming to promote the number of listed companies in the high-tech zone to achieve new breakthroughs, market value to a new level.
The road of "science and technology financial multiplication and amplification" pursued by Xi'an High-tech Zone, the "light chasing plan" is also an important bearing place, as they proposed: respond to Shaanxi's "chain length system" with practical actions, and strive to complete the goal of Shaanxi's "light chasing plan" to promote the listing of 3-5 companies on the science and technology innovation board by 2023, and promote the photonic industry cluster to move towards the scale of 100 billion yuan industry.
Financial Lollipop believes that this is the original intention and vision of the "Shaanxi Province", the 14th Five-Year Plan for the High-quality Development of the Financial Industry, and the encouragement and support from the capital market will ultimately serve the high-quality real economy. The goal is set, and all the actions of the three levels of the provincial and municipal levels are obviously the best response.