On November 5, Shanghai Yachuang Electronics Group Co., Ltd. (hereinafter referred to as "Yachuang Electronics") initially issued shares and listed on the GEM online roadshow was held at China Securities Journal and China Securities Network.
is a well-known domestic authorized distributor of electronic components, mainly distributing products from internationally renowned electronic components design and manufacturers such as Toshiba, Seoul Semiconductor, Murata, Panasonic, LG. Specific products include optoelectronic devices, memory chips, passive components and discrete semiconductors. At the same time, based on years of accumulation in the automotive electronics field and combined with downstream customer needs, the company has carried out independent research and development and design business of power management ICs. The company's independently developed and designed power management IC products have passed the automotive grade certification such as AEC-Q100, and have been used in batches on related models of globally renowned car companies such as Hyundai Motor and Chrysler.
Chairman and General Manager of Shanghai Yachuang Electronics Group Co., Ltd. Xie Lishu
Secretary of the Board of Directors and Financial Director of Shanghai Yachuang Electronics Group Co., Ltd. Fan Xiaolei
Roadshow guests group photo
Roadshow guests
Roadshow guests
Chairman and General Manager of Shanghai Yachuang Electronics Group Co., Ltd. Xie Lishu
Secretary and Financial Director of Shanghai Yachuang Electronics Group Co., Ltd. Fan Xiaolei
Sponsor representative, Executive General Manager of Guosen Securities Investment Banking Division Sun Jie
Sponsor representative, Director of Guosen Securities Investment Banking Division Business Department Business Director of Guosen Securities Investment Banking Division Business Department Sun Jie
Sponsor representative, Director of Guosen Securities Investment Banking Division Business Department Zheng Wenying
Company Profile
Company’s main products include optoelectronic devices, memory chips, passive components and discrete semiconductors. From 2018 to the end of the first half of 2021, the sum of the distribution revenue of the above four types of products accounted for 87.65%, 86.21%, 85.75% and 86.65% of the main business revenue, respectively, and remained stable overall.
From 2018 to June 2021, the company's distribution revenue was about 90 to 1.1 billion yuan. According to the ranking of local electronic component distributors announced by the International Electronic Commerce Information, the company's electronic component distribution business rankings were 25th, 23rd, 31st and 35th respectively from 2017 to 2020.
Issuance Overview
Securities abbreviation: Yachuang Electronics
subscription code: 301099
Securities code: 301099
Issuance scale: 20 million shares, accounting for 25% of the company's total share capital after issuance
subscription date: November 8, 2021
payment date: November 10, 2021
Issuance price: 21.99 yuan/share
Roadshow Q&A highlights
Questions
What are the main competitive advantages of the company?
Compared with competitive products, the company's products are IC products that have been redeveloped and designed recently. They use the latest technological R&D results and experience and are updated products. They effectively absorb the advantages of competitive products that have been used in the market for many years and improve their disadvantages in a targeted manner. In addition, the company's distribution business already has a wide customer base and has the market ability to directly reach customers of mainstream domestic automotive electronics manufacturers. In contrast, international mainstream manufacturers mainly serve downstream customers through distributors, and the company's sales and service capabilities are stronger.
On the other hand, on the basis of good quality, the company's power management IC products can use the company's core technology to provide differentiated design services to automotive electronic customers according to their requirements, such as integrating multiple functions into a power management chip, thereby achieving differentiated competition. In terms of price system, competitors' products are often sold globally and the price system remains relatively consistent. The company's products can provide customers with flexible and competitive pricing strategies and are more competitive in product pricing.
Answer
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What is the ability of the company to continue to obtain orders?
has the ability to continuously obtain orders. On the one hand, the company already has competitive advantages, such as product update design, wide customer base, differentiated competition and competitive prices; on the other hand, the domestic IC industry is gradually importing and replacing, and the market size of automotive power management ICs was about 7.74 billion yuan in 2020, with broad market demand and steady growth. At present, the company's subsequent R&D investment, product development and market development of the power management design business are in an orderly stage of progress, and future development is sustainable.
Answer
Questions
What is the market position of the company?
Compared with international large electronic component distributors, the distribution scale of local distributors in my country is generally relatively small. In recent years, some local distributors in my country have continued to grow bigger and stronger through mergers and acquisitions, and distribution companies with sales volumes of more than 10 billion yuan have emerged. From 2018 to June 2021, the company's distribution revenue was approximately RMB 900 million to RMB 1.1 billion. According to the ranking of local electronic component distributors announced by the International Electronic Commerce Information, the company's electronic component distribution business rankings were No. 25, No. 23, No. 31 and No. 35 respectively from 2017 to 2020.
At the same time, on the basis of distribution, the company has increased its investment in technical services and independent products (power management ICs). In terms of technical services, the company now has the ability to provide technical services to the top ten global automotive parts suppliers such as Hyundai Mobis and collect technical service fees; in terms of independent research and development products, the company's independently developed and designed power management IC products have passed the automotive grade certification such as AEC-Q100, and have been used in batches on related models of globally renowned car companies such as Hyundai Motor and Chrysler.
Answer
Questions
What are the development opportunities of the company in the current industry context?
First is industrial policy support. The electronic components industry is a high-tech pillar industry related to economic development and national defense security, and has always been highly valued and strongly supported by the country. A series of policy documents such as the "13th Five-Year Plan for the Development of National Strategic Emerging Industry", "Information Industry Development Guide", "Action Plan for the Development of the Internet of Vehicles (Intelligent Connected Vehicles) Industry Development", and "Intelligent Vehicle Innovation Development Strategy" provide guidance and guidance from the overall development direction, phased goals, and fiscal and tax incentive measures of electronic components distribution and automobile market. They further refined the industrial development path and clarified specific operating rules, which will have a positive effect on the sustained and healthy development of the IC industry.
Second, it benefits from the rapid development of downstream industries. With the increasing demand for automobile safety, comfort and entertainment in recent years, the trend of automobile intelligence has been accelerating. Among them, advanced assisted driving, represented by car active safety, is constantly being used in high-end cars and is constantly penetrating into the mid- and low-end. In the process of intelligence, automobiles widely use sensors, cameras, radars, microprocessors, circuit boards and other automotive electronic components. The development process of automobiles from functionality to intelligence is also a process of widespread use and upgrade of automotive electronics.
Answer
Questions
Will the company attach importance to communication with investors after its listing?
Investor relations are a task that listed companies attach great importance to. By establishing good communication channels with investors, companies can be more transparent in the capital market and gain investors' trust. While fully demonstrating the company's own value, accepting market supervision over the company is conducive to the healthy development of the company. The company will pay great attention to communication with investors and disclose information in a timely manner.
Ans
Editor: Yesong
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