Meizhi Optoelectronics attempts IPO again, application has been accepted

On April 20, Midea Group announced that the company received a notice from its subsidiary Meizhi Optoelectronics Technology Co., Ltd. (hereinafter referred to as Meizhi Optoelectronics) stating that Meizhi Optoelectronics recently submitted application materials for an initial public offering of shares and listing on the GEM to the Shenzhen Stock Exchange, and it was accepted on April 19.

This is not the first time that Meizhi Optoelectronics has applied for listing. In June 2021, Meizhi Optoelectronics' IPO application was accepted by the Shenzhen Stock Exchange's Growth Enterprise Market, which took more than a year. In July 2022, it withdrew its issuance and listing application documents, and its first IPO failed.

It is reported that Meizhi Optoelectronics is a high-tech enterprise focusing on the design, research and development, production and sales of lighting and intelligent front-end products. The company comprehensively uses intelligent interaction and intelligent control technologies such as Internet of Things technology, voice control technology, lighting control technology, and edge computing technology to continue to provide customers with intelligent, safe, convenient, and comfortable lighting and intelligent front-end products, which are widely used in various scenarios such as residences, hotels, commercial complexes, schools, hospitals, and transportation venues.

Among them, in the field of lighting, Meizhi Optoelectronics has independently developed core technologies such as optical light control technology, deep logarithmic curve dimming technology, eye protection lighting technology, and biological rhythm lighting technology. It continuously optimizes parameters such as glare, dimming accuracy and smoothness, and illumination uniformity to create the best light environment and promote the quality and intelligent development of the lighting industry.

In terms of performance, from 2020 to 2022, Meizhi Optoelectronics achieved revenue of 787.8452 million yuan, 925.8385 million yuan, and 910.567 million yuan respectively, and the corresponding net profits attributable to the parent company were 69.3513 million yuan, 76.8979 million yuan, and 83.2706 million yuan respectively.

Among them, the main business income by product classification is as follows:

It can be seen that the lighting business has become the largest source of income for Meizhi Optoelectronics. It is reported that Meizhi Optoelectronics’ lighting products mainly include ceiling lamps, kitchen and bathroom lamps, bathroom heaters, table lamps, downlights, etc., mainly covering home lighting and commercial lighting scenarios.

By applying for listing this time, Meizhi Optoelectronics plans to raise 506.3644 million yuan to invest in the following projects:

Facing the future, Meizhi Optoelectronics will fully seize the market opportunities of intelligent, scene-based and green homes and buildings, continue to promote the transformation and upgrading of the company's products, and vigorously develop the four core businesses of intelligent lighting, intelligent control, intelligent security and intelligent ceilings, relying on technology research and development, product quality, project experience, etc. We insist on taking the lead in products and technologies, fully perceive user needs, comprehensively improve internal operational efficiency, fully implement the development strategy of "perceiving users, leading products, and operating efficiently", and continuously improve the comprehensive competitiveness of the company and products through user research, technological innovation, product innovation, and service innovation.