On July 19, Hefei Echo Optoelectronics Technology Co., Ltd. (hereinafter referred to as "Echo Optoelectronics", SH: 688610) was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. In this listing, Echo Optoelectronics' issue price is 73.33 yuan per share, the number of shares issued is 17 million, the total fundraising is about 1.247 billion yuan, and the net fundraising is about 1.135 billion yuan.
On the first day of listing, Eco Optoelectronics fell below the IPO issue price. It is understood that the opening price of Echo Optoelectronics was 70.00 yuan/share, a 4.54% drop from the issue price, with an intraday high of 74.01 yuan/share and a minimum of 62.01 yuan/share. As of the close, the stock price of Echo Optoelectronics closed at 70.34 yuan per share, down 4.08% from the issue price, with a total market value of about 4.783 billion yuan.
According to Tianyancha information, Eco Optoelectronics was established in March 2011 and is located in Hefei City, Anhui Province. At present, the company's registered capital is 51 million yuan, the legal representative is Dong Ning, and the shareholders include Dong Ning, Tang Shiyue, Ye Jiasheng, National Small and Medium Enterprise Development Fund, Tongchuang Weiye, Yida Capital, etc.
According to the prospectus, Eco Optoelectronics is a provider of high-end manufacturing equipment core components. It is a company specializing in the design, development, production and sales of industrial machine vision imaging components. Its main products include industrial cameras and image acquisition cards, which are the core components of industrial machine vision.
Among them, industrial cameras are mainly high-speed or high-resolution products, and image acquisition cards are mainly high-speed image acquisition cards compatible with industry standard protocols such as Camera Link and CoaX Press. Echo Optoelectronics stated in the prospectus that high-speed and high-resolution cameras and high-speed image acquisition cards are high-end product positioning of the core components of machine vision.
According to the prospectus, the revenue of Eco Optoelectronics in 2020, 2021 and 2022 will be 68.5638 million yuan, 164 million yuan and 263 million yuan respectively, and the net profits will be -27.3011 million yuan, 44.0764 million yuan and 70.3222 million yuan respectively.
During the reporting period, Echo Optoelectronics has established stable cooperative relations with domestic high-end equipment manufacturers, well-known machine vision system manufacturers or end users such as Jingce Electronics, Yimeizhi, Tianzhun Technology, Opto, Autoway, Bozhong Seiko, Yihong Intelligent, Qisda, and Stech.
At the same time, the products of Echo Optoelectronics have been widely used in the production and manufacturing of well-known domestic and foreign brand enterprises, including Shennan Circuits, Jingwang Electronics, BOE, China Star Optoelectronics, Ningde Times, Guoxuan Hi-Tech, etc. Echo Optoelectronics stated in the prospectus that the company helps customers solve the actual needs of end users in intelligent manufacturing, and has gained a high degree of market recognition.
During the reporting period, the main customers of Echo Optoelectronics were Yimeizhi and Jingce Electronics, accounting for 88.64%, 48.27%, and 33.96% of the total respectively. Among them, the proportion of the sales amount to Yimeizhi to the total sales amount of the current period was 40.00%, 29.24%, and 8.80% respectively; the proportion of the sales amount to Jingce Electronics to the total sales amount of the current period was 48.64%, 19.03%, and 25.16% respectively.
According to the prospectus, the revenue of Eco Optoelectronics in the first quarter of 2023 was 57.3575 million yuan, a decrease of 8.22% from 62.4912 million yuan in the same period of 2022; 60%.
At the same time, Echo Optoelectronics expects its revenue in the first half of 2023 to be 120 million to 130 million yuan, a year-on-year change of about -19.13% to -12.39%; the net profit attributable to the parent is 7 million to 9 million yuan, a year-on-year change of about -84.89 to -80.57%; deduction of non-net profit is 6 million to 8 million yuan, a year-on-year change of about -85% to -80%.
Before this listing, the actual controller of Eco Optoelectronics was Dong Ning, who directly held 43.90% of the company's shares, indirectly controlled 9.17% of the company's voting rights through Hefei Aijue and Hefei Aiju, and controlled a total of 53.07% of the company's voting rights. At present, Dong Ning is the chairman and general manager of Eco Optoelectronics.
In addition, Tang Shiyue and Ye Jiasheng each hold 11.35% of the shares, Cao Guiping holds 9.08% of the shares, the National Small and Medium Enterprise Fund holds 2.75% of the shares, SME Fund Tongchuang (Hefei) holds 2.66% of the shares, Wuhu Jinghu Gaotou Yida holds 1.83% of the shares, and Hefei Dunqin Zhixin holds 1.61% of the shares.
At the same time, Anhui Guochuang Xingtai Wisdom Growth holds 1.38% of the shares, Jingan Investment holds 1.15% of the shares, Jiangsu Yida Xinhai and Zibo Tianhui Taiyu each hold 1.01% of the shares, Hefei Dunqin Zhirui holds 0.83% of the shares, and Hefei Peiyou Development and SME Fund (Jiangsu No. 2) each hold 0.46% of the shares.