China Net Finance September 30: According to the official website of the China Securities Regulatory Commission, the GEM IPO registration of Matrix Zongheng Design Co., Ltd. (hereinafter referred to as Matrix Co., Ltd.) was recently approved.
plans to raise 884 million yuan
China Net Finance learned that Matrix shares intend to issue no more than 30 million shares this time, no less than 25% of the total share capital after issuance of more than 120 million shares, which is planned to raise about 884 million yuan, which will be used for headquarters design center, design service network, intelligent design platform and information construction projects, respectively, and intend to invest RMB 584.6104 million, RMB 201.4657 million, RMB 57.801 million, and RMB 39.8313 million respectively.
Chairman Wang Guan holds 70.18% of the shares of
Matrix Co., Ltd. was established in 2010 and is mainly engaged in space design and soft furnishing business. The main project categories are residential real estate sales offices, model rooms and other space fields. The profit model is to charge corresponding design fees or service fees by providing customers with space design and soft furnishing services. The business in the non-residential field covers office, hotel, education, health care, cultural venues and other business fields.
The company's predecessor was Shenzhen Matrix Interior Decoration Design Co., Ltd. , and was jointly initiated and established by natural persons Wang Guan and Liu Fang. The registered capital was 500,000 yuan at the time of establishment, and Wang Guan and Liu Fang subscribed 300,000 yuan and 200,000 yuan respectively, accounting for 60.00% and 40.00% of the registered capital respectively.
Chairman Wang Guan directly holds 29.41% of the company's equity, and controls 40.76% of the voting rights of the company through Tianji Yuheng Investment, Jishan Youhe Investment, Mikes Investment, and Hezong Lianheng Consulting. The voting rights of Wang Guan directly and indirectly controls the company's shares is 70.18%, and is the actual controller of the company.
It is worth noting that the company's start-up shareholder Liu Fang's shareholding ratio dropped to 1%, and the shareholding ratio was further diluted to 0.75% after the public issuance of new shares.
2021 net profit excluding non-recurring items was RMB 217 million
business revenue, according to the prospectus, Matrix Co., Ltd.'s main business revenue mainly comes from space design and soft furnishing business revenue. From 2019 to January-June 2022, the company's operating income was RMB 456.7424 million, RMB 612.1965 million, RMB 886.3515 million and RMB 386.6981 million respectively; net profits were RMB 123.1912, RMB 16,023.88, RMB 21,985.03, and RMB 91.4352 million; net cash flow generated by operating activities was RMB 148.1347, RMB 16,688.44, RMB 13,113.13, and -8.2986 million respectively. The company's operating cash flow turns from positive to negative.
comprehensive gross profit margin fell to 45.02%
During the reporting period, Matrix Shares' comprehensive gross profit margin was 51.95%, 50.05%, 49.59% and 45.02% respectively. The comprehensive gross profit margin in the first half of 2022 was relatively low.
In addition, the proportion of R&D investment in operating income showed a downward trend, specifically 4.34%, 4.25%, 3.46%, and 2.84%.
was once asked whether there were customers with tight capital chain or difficulties in operation
It is worth noting that China Net Finance learned that according to the official website of the China Securities Regulatory Commission, in the "registration inquiry and reply and review feedback" stage, Matrix shares "about accounts receivable" and other issues were asked. Disclosed inquiry information shows that at the end of each period of the reporting period, the balance of the issuer's accounts receivable (including contract assets ) was RMB 97.8008 million, RMB 161.9458 million and RMB 350.1373 million, respectively. At the end of each period of the reporting period, the issuer's accounts receivable accounted for 69.78%, 48.83%, and 15.54%, respectively. During the reporting period, the company's real estate customer revenue accounted for more than 95% of all periods of the reporting period. Affected by the real estate industry regulatory policies, relevant real estate developers had poor management or tightening capital flows.
In the inquiry, please explain whether there are customers with tight capital chain or operating difficulties based on the latest performance and adjustments to the main customer ratings. If so, list the specific situation of transactions with them in each period of the reporting period, the collection of accounts receivable after the period, the provision of bad debts in and the subsequent execution of orders in hand, and further explain the specific impact of the deterioration of the operating conditions of the relevant customers on the issuer's operating performance and sustainable operating capabilities.
Accounts receivable for customers with difficulties in real estate operations are 37.563 million yuan
In this regard, China.com Finance learned through the prospectus of Matrix Shares that the prospectus risk warning Zhongmatrix Shares said that among the company's customers, those who are currently known to have public market debt defaults or other defaults include Blu-ray Development , Taihe Group , China Evergrande , China Fortune Land Development , Panhai Holdings , China Aoyuan , Kaisa Group , Huayangnian , Shimao Group , Suning Real Estate Group Co., Ltd. , Tianyang Group, Xiangsheng Holdings Group, Sunshine City , Greenland Holdings, Sunchuang China , Zhengrong Real Estate . The total revenue of customers with open market debt defaults or other defaults during the reporting period was RMB 43.2908 million, RMB 93.437 million, RMB 75.9669 million and RMB 11.1491 million, respectively, accounting for 9.48%, 15.26%, 8.57% and 2.89% of the sales revenue in each period of the reporting period; as of June 30, 2022, the balance, net value, and amount of on-hand orders of the above-mentioned customers were RMB 37.563 million, RMB 802,600, and RMB 29.4123 million, respectively, accounting for 8.73%, 0.23%, and 4.90% respectively. Although the above-mentioned customers' sales revenue, accounts receivable (including contract assets) balance, net value, and order amounts in hand during the reporting period are all small, if the financial situation of such customers continues to deteriorate in the future, or more open market debt defaults or other defaults occur among the company's customers, it will have a certain impact on the company's operating performance.
expects net profit to decline by up to 10.32% from January to September
According to the prospectus, Matrix shares expects performance from January to September 2022: operating income is approximately RMB 592 million to RMB 705 million, a year-on-year decrease of 5.99%-11.95%, and net profit of RMB 131 million to RMB 157 million, a year-on-year decrease of 10.32%-7.48%, and net profit attributable to shareholders after deducting non-operating items is RMB 122 million to RMB 154 million, a year-on-year decrease of 14.93%-7.38%.
