Taijia new material breakthrough IPO Zoomlion holdings, such as 4 Sichuan waiting for the "Banquet"
Taijia new material breakthrough IPO Zoomlion holdings waiting for the "Banquet"
China Construction machinery information
Guide: Hunan Taijia New Material Technology Co., Ltd. (hereinafter referred to as Taijia new material) IPO application is waiting in line for the meeting, and the company plans to raise 317 million yuan. It is worth noting that Zoomlion holds 32 million shares of the company, accounting for 32% of the total share capital before the issuance. Its shareholding cost is only 1.2 yuan per share. Once Taijia
the IPO application of Hunan Taijia New Material Technology Co., Ltd. (hereinafter referred to as "Taijia new material") is waiting in line for the "meeting", and the company plans to raise 317 million yuan. It is worth noting that Zoomlion holds 32 million shares of the company, accounting for 32% of the total share capital before the issuance, and its shareholding cost is only 1.2 yuan per share. Once Taijia new material is successfully listed, it is conservatively estimated that Zoomlion will make a profit of 400 million yuan
according to the prospectus (declaration draft) of Taijia new materials disclosed by the CSRC on the evening of May 9, Taijia new materials plans to issue no more than 33.35 million shares, accounting for 25% of the total share capital after the issuance. It plans to raise 317 million yuan for the construction project of annual output of 13million meters of bimetallic band saw blades, bimetallic band saw blade technology center construction project and marketing network construction project
Taijia new material is the largest R & D and production base of electromechanical products such as bimetallic composites and their sawing products, metal cutting sawing machines, etc. in China, it mainly produces 8 varieties of machine tool series and various specifications of saw blades. The operating revenues in 2009, 2010 and 2011 were 171 million yuan, 193 million yuan and 259 million yuan respectively, and the net profits attributable to the parent company were 18.21 million yuan, 46 million yuan and 66.75 million yuan respectively
although its profitability has maintained a steady growth, the problems such as its single product and the huge impact of raw material price fluctuations on its cost cannot be ignored
the prospectus shows that in 2009, 2010 and 2011, the income of bimetal band saw blades accounted for 72.06%, 96.97% and 96.50% of the company's current main business income respectively. Bimetal band saw blade is the company's leading product, and its sales revenue accounts for too much, and shows an increasing trend year by year. The company's extreme dependence on a single product has a certain adverse impact on the stability of the company's performance. In addition, from 2009 to 2011, Taijia new materials accounted for 75.17%, 67.30% and 67.26% of its current production costs respectively. If the price of raw materials such as high-speed steel wire and cold-rolled alloy steel strip fluctuates greatly, the gross profit margin of the company will fluctuate greatly, thus affecting the profitability of the company
it is worth noting that Zoomlion signed the asset transfer agreement with Taijia Co., Ltd. (the old name of Taijia new material) with the operating assets and liabilities related to the sawing machine and band saw blade business of Zoomlion Lake Machinery on August 15, 2007, and Zoomlion obtained 32million shares of Taijia new material at a price of 38.4 million yuan in kind. Interestingly, this part of the sawing machine business was transferred by Taijia new material at the price of 19.23 million yuan in November 2009 due to poor management, and the transferee was considered as three natural persons
according to the 32 million shares obtained by 38.4 million yuan, the shareholding cost of Zoomlion is only 1.5% per share In such an imagination, you must pay attention to the itinerary of the rubber tensile testing machine. 2 yuan. According to Taijia new material's 2011 earnings per share of 0.67 yuan multiplied by guoxinrong, Secretary General of the titanium dioxide industry branch of China Paint Industry Association, who once said a conservative 20 times P/E ratio, Zoomlion's book profit after the listing of Taijia new material was nearly 400million yuan
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