Minbao Optoelectronics’ second IPO, net profit attributable to parent company exceeded 100 million for three consecutive years

On September 27, the IPO review status of Shenzhen Minbang Optoelectronics Co., Ltd. was changed to "Approved by the Listing Committee Meeting".

This is the second time that Minbang Optoelectronics has rushed to the Shenzhen Stock Exchange GEM. It is reported that on July 22, 2020, Minbo Optoelectronics applied to the Shenzhen Stock Exchange for listing on the GEM. After 5 rounds of inquiries and 6 updates to the prospectus, the listing application was finally withdrawn in September 2021. After a lapse of eight months, Minbang Optoelectronics applied again for listing on the GEM in May 2022, and so far the progress has been smooth.

It is reported that Minbang Optoelectronics was established in 2010. It is a high-tech enterprise focusing on the green lighting business field. It is mainly engaged in the research and development, design, manufacturing, sales and service of LED lighting products.

In terms of performance, from 2019 to 2021, Minbang Optoelectronics achieved operating income of 1.082 billion yuan, 1.059 billion yuan, and 1.497 billion yuan respectively, and the corresponding net profits attributable to the parent company were 200 million yuan, 174 million yuan, and 168 million yuan respectively. This also means that during the IPO reporting period in the past three years, Minbao Optoelectronics’ non-net profits exceeded 100 million.

At the same time, Minbang Optoelectronics also predicts that the full-year operating income in 2022 will be approximately 1.35 billion to 1.40 billion yuan, and the net profit attributable to the parent company will be approximately 186 million to 193 million yuan.

In this IPO, Minbang Optoelectronics plans to issue no more than 26.17 million shares and raise 1.102 billion in funds to invest in two major projects: "Automated production expansion of LED lighting fixtures" and "Construction of headquarters buildings and R&D centers" and to supplement working capital.

Among them, the LED lighting lamps automation expansion project is to further expand the company's existing production capacity, improve the degree of automation of production, and improve the company's operating scale and profitability; the civil explosive optoelectronics R&D center construction project is to further increase investment in the field of research and development, strengthen the ability to realize customer needs, and improve the company's profitability and core competitiveness; the supplementary working capital project will provide financial guarantee for the company's rapid development and enhance development potential.