Yatong Precision Mechanical intends to publicly issue 30 million shares
Release time:
Jan 31,2023
Source:
On January 31, Yantai Yatong Precision Mechanical Co., Ltd. (“Yatong Seiko” for short) launched a stock offering.According to the announcement, the company intends to publicly issue 30 million shares this time, accounting for 25% of the total share capital after the issuance.
Yatong Precision Mechanical is mainly engaged in the research and development, production, sales and service of auto parts and mining auxiliary transportation equipment.Since its establishment, the company has been engaged in the research and development, production, sales and service of auto parts. In 2010, the company entered the field of research and development, production, sales and service of mining auxiliary transportation equipment.Judging from the revenue structure, during the reporting period, the company's auto parts business revenue accounted for about 80% of the company's main business revenue, and mining auxiliary transportation equipment accounted for about 20%.
The company's auto parts business mainly provides automotive stamping and welding parts for commercial vehicles and passenger car oems.The company has a high level of equipment and technology, has independent product synchronous development and manufacturing capabilities, and has a strong competitive advantage in the industry. It is one of the few domestic automobile stamping and welding parts manufacturers that can support commercial vehicles and passenger cars on a large scale at the same time. It is also a first-class supplier of SINOTRUK, SAIC General and SAIC Group.
The company's mining auxiliary transportation equipment business includes two categories: first, the production and sales of auxiliary transportation equipment required for underground coal mines and metal mines, products include explosion-proof diesel engine concrete mixing trucks, explosion-proof diesel engine wet concrete injection trucks, bracket trucks, shovel trucks, etc.; Second, to provide large coal mines with specialized auxiliary transportation services, including equipment, materials and personnel transportation services, labor services, operation, maintenance, material supply, technical services and other comprehensive specialized services.
It is worth mentioning that the explosion-proof diesel engine concrete mixing truck and explosion-proof diesel engine wet concrete jet truck independently developed by the company for underground use in coal mines have been identified by the China Coal Machinery Industry Association as the first in China, reaching the international advanced technical level, and achieving a breakthrough in the localization of key equipment, effectively reducing the labor intensity of underground personnel and improving the efficiency of underground work.
In recent years, the company's performance has been good.In 2019, 2020, 2021 and January-June 2022, the company achieved operating income of 1.007 billion yuan, 1.315 billion yuan, 1.494 billion yuan and 620 million yuan respectively, and the net profit attributable to the owner of the parent company was 105 million yuan, 192 million yuan, 162 million yuan and 084 million yuan.
The company plans to invest the funds raised from this listing in the “Penglai Production Base Construction Project”, “Commercial Vehicle parts production base Renovation and Construction Project”, “Penglai R&D Center Construction Project” and supplementary working capital.
Yatong Precision Mechanical said that the company will fully promote the construction of the fund-raising project. After the project is completed, it will help expand the company's market share in the field of mining auxiliary transportation equipment, enhance the company's commercial vehicle auto parts equipment technology level and production capacity, and further enhance the company's main business competitiveness.