Leidi.com Lei Jianping July 24
Hytec Power Co., Ltd. (abbreviation: "Hytek") has been terminated the IPO recently, and Hytek was preparing to be listed on the main board of the Shanghai Stock Exchange.
Hytec plans to raise 800 million yuan, of which 600 million yuan will be used for high-end hydraulic pumps, valves, and motor construction projects, and 200 million yuan will be used to supplement working capital.
Annual revenue of 784 million
Hytek is mainly engaged in the R&D, production and sales of hydraulic system components, mainly including hydraulic pumps, motors and valves used in mobile machinery and industrial machinery.
According to the prospectus, Hytek's revenue in 2019, 2020, and 2021 will be 582 million yuan, 706 million yuan, and 784 million yuan respectively; the net profit will be 99.13 million yuan, 208 million yuan, and 258 million yuan, respectively.
Hytek's revenue in the first half of 2022 will be 370 million yuan, and its net profit will be 88.55 million yuan.
From the end of 2019 to the end of June 2022, the sum of the book value of the company's notes receivable, accounts receivable, and financing receivables was 236 million yuan, 283 million yuan, 244 million yuan, and 300 million yuan, accounting for 20% of the total assets of the current period. The proportions are 30.24%, 32.06%, 27.02% and 31.57% respectively.
Hytek’s revenue in the first nine months of 2022 will be 488 million yuan, a decrease of 26.48% from 664 million yuan in the same period of the previous year; net profit after deducting non-existing expenses is 112 million yuan, a 47.86% decrease from 214 million yuan in the same period of the previous year.
Yang Xiaoli's family controls 100% of the shares
Before the IPO, the controlling shareholders and actual controllers of the company were Yang Xiaoli, Ye Tianzhen, Yang Liancheng, and Yang Liansi. The four were immediate relatives. Yang Xiaoli and Ye Tianzhen were husband and wife, and Yang Liansi and Yang Liancheng were siblings. The four directly hold 96.38% of the company's shares.
Among them, Yang Xiaoli holds 38.55%, Ye Tianzhen holds 28.91%, Yang Liancheng holds 19.28%, Yang Liansi holds 9.64%, Ningbo Xinzi holds 3.62%, Ye Tianzhen holds as a limited partner Enterprises with 65.34% capital contribution.
Yang Xiaoli, born in June 1958, graduated from Sichuan Agricultural University, majoring in business administration, with a college degree. From August 1975 to May 1984, he served as a worker in Wenzhou Ceramic Machinery Repair Factory; from June 1984 to January 2002, he served as the director of Wenzhou Liming Hydraulic Machinery Power Plant; from January 2002 to April 2016, he served as Hai The executive director of Turk Hydraulics is also the general manager; from May 2016 to December 2017, he was the executive director of Hytek Hydraulics; from December 2017 to now, he has been the chairman of the company.
Ye Tianzhen, female, born in January 1960, graduated from Sichuan Agricultural University majoring in business administration with a college degree. From October 1978 to July 1984, he served as a worker in Wenzhou Ceramic Machinery Repair Factory; from August 1984 to January 2002, he served as the chief financial officer of Wenzhou Liming Hydraulic Machinery Power Plant; from January 2002 to December 2017, he served as Supervisor of Hytec Hydraulics; from December 2017 to February 2021, served as a director of the company; from February 2021 to now, served as a director and deputy general manager of the company.
Yang Liansi, female, born in October 1984, graduated from the London School of Economics and Political Science with a postgraduate degree in law and accounting. Since October 2010, he has served as a supervisor of Shanghai Haixu; since December 2017, he has served as a director of the company.
After the IPO, Yang Xiaoli held 28.9%, Ye Tianzhen held 21.68%, Yang Liancheng held 14.45%, Yang Liansi held 7.23%, and Ningbo Xinzi held 2.72%.
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