According to the official website of the Shanghai Stock Exchange, the IPO of Shenzhen Yingjixin Technology Co., Ltd. (hereinafter referred to as “Yingjixin”) on the Science and Technology Innovation Board will be reviewed at the meeting on October 28, 2021. Yingjixin plans to publicly issue no more than 42 million ordinary shares in RMB and raise 400.6873 million yuan for the construction of power management chip development and industrialization projects, fast-charging chip development and industrialization projects, and to supplement working capital.
According to the prospectus, Yingjixin is a design company focusing on high-performance, high-quality digital-analog hybrid chips. Its main business is the research and development and sales of power management chips and fast-charging protocol chips. Yingjixin continues to launch cost-effective intelligent digital-analog hybrid chips. The power management chips and fast charging protocol chips provided are widely used in mobile power supplies, fast charging source adapters, wireless chargers, car chargers, TWS headset charging bins and other products.
The final brand customers of the company’s cooperation include well-known manufacturers such as Xiaomi and OPPO. During the reporting period (from 2018 to June 2021), the issuer generated sales revenue of about 230 product models, with more than 3,000 corresponding product sub-models, and the number of chip sales reached 1.728 billion.
Image source: Yingjixin prospectus
During the reporting period, the downstream market demand for power management chips and fast-charging protocol chips increased. Yingjixin continued to launch new products that meet customer needs, and the scale of operating income grew rapidly. From January to June in 2018, 2019, 2020 and 2021, Yingjixin’s operating income was 216.6767 million yuan, 348.0470 million yuan, 389.269 million yuan and 355.8707 million yuan respectively, with a compound growth rate of 34.04 from 2018 to 2020 %; net profits attributable to shareholders of the parent company after deducting non-recurring gains and losses were RMB 34.2312 million, RMB 63.0960 million, RMB 61.9394 million and RMB 87.5860 million respectively, with a compound growth rate of 34.52% from 2018 to 2020.
The application of the raised funds this time is carried out around the main business, and the investment projects of the raised funds are closely related to the existing business relationship of the company. Yingjixin stated in the prospectus that the products raised this time have good market prospects and sufficient market digestibility, and the company has advantages in talents, technology, brands, customers, etc. Market digestibility; the smooth implementation of the raised funds investment project is conducive to expanding the company’s sales scale, optimizing the company’s product structure, improving the company’s business layout, and enhancing the company’s research and development capabilities to enhance the company’s market competitiveness in the field of integrated circuits.