On December 15, Chengdu Hongming Electronics Co., Ltd. (referred to as Hongming Electronics) updated its IPO application status on the Shenzhen Stock Exchange's ChiNext board to "registration submitted." Shenwan Hongyuan Securities is the sponsor for the offering, which targets raising 1.95 billion yuan.
According to the prospectus, Hongming Electronics specializes in the R&D, production, and sales of new electronic components, primarily resistive and capacitive components, providing high-performance and high-reliability products. The company also engages in precision component manufacturing, with applications in consumer electronics such as tablets, laptops, and smartphones, as well as new energy batteries and automotive electronic structural parts.
During the reporting period, the company's core products included new electronic components (such as resistive and capacitive components) and precision components. Revenue and profits were mainly driven by its electronic components business, which primarily serves the defense sector. Key products in this segment include multilayer ceramic capacitors (MLCCs), chip ceramic capacitors, organic and mica capacitors, tantalum electrolytic capacitors, thermistors, displacement sensors, and other electronic components like filters/connectors and microwave devices. In the defense sector, the company holds a competitive edge with high-reliability products such as MLCCs, organic/mica capacitors, displacement sensors, and thermistors.
For precision components, Hongming Electronics supplies major brands like Apple, Lenovo, and Motorola, serving as a key supplier in Apple's supply chain. Additionally, the company has expanded into the new energy vehicle sector, developing battery and automotive electronic structural components.
Proceeds from the IPO, after deducting issuance costs, will be allocated to prioritized projects based on construction progress.
Financially, the company reported revenues of approximately 3.15 billion yuan, 2.73 billion yuan, 2.49 billion yuan, and 1.53 billion yuan for 2022, 2023, 2024, and the first half of 2025, respectively. Net profits for the same periods were about 690 million yuan, 598 million yuan, 386 million yuan, and 370 million yuan.
Comments