Yatong Precision Mechanical has 177 independent research and development patents
Release time:
Feb 17,2023
Source:
On February 17th, Yantai Yatong Precision Machinery Co., Ltd. (hereinafter referred to as “Yatong Precision”) officially landed on the main board of the Shanghai Stock Exchange with the stock code 603190.
According to the prospectus, Yatong Precision Mechanical is mainly engaged in the research and development, production, sales and service of auto parts and mining auxiliary transportation equipment, and has fully formed the trend of collaborative development of the three major sectors of commercial vehicle parts, passenger car parts and mining auxiliary transportation machinery.The company is not only one of the companies in the industry that simultaneously layout the fields of commercial vehicles and passenger cars, but also one of the very few companies in the stamping and welding parts segment that has the design, production, and research and development of complete motor vehicles (i.e. underground trackless vehicles), and has complete independent intellectual property rights.
After more than ten years of long-term deep industry cultivation, up to now, Yatong Precision Mechanical has as many as 177 independent R&D patents, with outstanding technical R&D advantages and product quality advantages, which have won the “favor” and continuous recognition of leading customers in many segments.
Among them, in the field of commercial vehicles, many OEMs such as Sinotruk, China FAW, and Beiqi Foton are their customers.In the field of passenger cars, the company has also successively obtained the first-class supplier qualification of SAIC General Motors, which has long occupied the top three in the industry, and the first-class supplier qualification of SAIC Group.In 2020, Yatong Seiko began to enter the field of new energy vehicles, and has now started bulk supply to Ideal Motors.In the field of mining auxiliary transportation equipment, Yatong Seiko has also established cooperative relations with large coal mine customers such as National Energy Group, Jinneng Holdings, and Shaanxi Coal Group.It is worth noting that once automobile oems and large coal mining companies establish cooperative relations with their suppliers, they usually do not easily replace them, and the viscosity is high, which provides sufficient guarantee for the continuous and steady development of Yatong Precision Mechanical.
In terms of performance, the company achieved operating income of 1.007 billion yuan, 1.315 billion yuan and 1.494 billion yuan in 2019, 2020 and 2021, respectively, and the net profit attributable to the owner of the parent company was 105 million yuan, 192 million yuan and 162 million yuan, showing a steady and upward trend overall.
The company publicly issued 30 million shares this time, and plans to raise funds of about 1.194 billion yuan, mainly to invest in Penglai production base construction projects, commercial vehicle parts production base renovation and construction projects, Penglai R&D center construction projects and supplementary working capital.After comprehensive calculations, all the projects raised in this IPO have reached the postpartum period, and the company can add a total of 714 million yuan in new sales revenue and a total of about 200 million yuan in new profits every year. The scale of revenue and profitability will be greatly improved.
Yatong Precision Mechanical said that the implementation of this fundraising project will expand the production scale of the company's mining auxiliary transportation equipment to alleviate production capacity bottlenecks, upgrade the commercial vehicle production base, build a R&D center, and supplement the company's working capital. The overall development strategy is in line with the company's existing development stage, which is the only way to realize the company's strategy.