Nova Xingyun IPO has a meeting, limited financing channels, and product structure is relatively single

On August 18, the Shenzhen Stock Exchange's GEM Listed Committee held the 54th review meeting of 2022, and Xi'an Nuowa Xingyun Technology Co., Ltd. (starting) (hereinafter referred to as Nova Xingyun) meets the issuance conditions, listing conditions and information disclosure requirements. Listing.

"Daily Economic News" reporter learned that Nova Xingyun is about to become the 76th A -share listed company in Shaanxi (including the registration of registration), and it is also the "Three -year Action Plan for the Promotion of Enterprises in Shaanxi Province (2022-2024, 2024 ) "The first company since its release.

It is estimated that the maximum net profit in the first half of the year will increase by 33%

It is reported that Nova Xingyun focuses on the study and application of the core algorithm of video and display control, mainly providing users with comprehensive software and hardware solutions. During the reporting period, the main products include the LED display control system, video processing system and cloud -based information release and management system.

On August 18, Nova Nebula was successfully listed on the GEM. According to the prospectus, Nova Xingyun issued no more than 12.84 million shares this time, accounting for not less than 25%of the total share capital after the issuance.

This raised funds will be used for base construction projects and manufacturing upgrade projects. Among them, the industrialization R & D base of the Nova Optoelectronics Display System will be invested in raising funds of RMB 69,083,300. , Informatization system upgrades are intended to invest 9,7404,500 yuan, and the marketing network and service system upgrades are intended to invest 8,548,100 yuan.

The prospectus shows that from 2019 to 2021, Nova Xingyun achieved revenue of 1.213 billion yuan, 985 million yuan, and 1.584 billion yuan, respectively; net profit attributable to mothers was 238 million yuan, 111 million yuan, and 212 million yuan; deduction; Non -net profit also reached 225 million yuan, 105 million yuan and 189 million yuan.

Nova Xingyun said that the fluctuations in 2020 are mainly affected by the changes in the upstream and downstream. Among them, the price of the raw material IC with more than 50%of the purchase amount of the procurement amount has risen. A short decline in 2020.

In the long run, with the factors of interference in large -scale activities, the needs of the LED display terminal market will gradually recover and will continue to rise.

Nova Xingyun is expected to achieve revenue from 880 million yuan to 930 million yuan in the first half of this year, a year-on-year increase of 36.85%-44.63%; it is expected to achieve net profit of 107 million yuan to 127 million yuan, an increase of 12.01%-33.04%year-on-year.

During the reporting period, the company's main business gross profit margin was 51.93%, 49.45%, and 45.88%, respectively, which was higher than the average level and stable. , Affairs such as market competition and product renewal.

From the perspective of product sales, in 2021, the operating income of the LEE and control system was 892.213 million yuan, and the revenue during the reporting period decreased from 70.26%to 56.97%; the operating income of the video processing system was 50.33835 million yuan. Compared with 19.24%to 32.14%; cloud -based information publishing and management system operating revenue was 999,888,800 yuan, revenue proportion was 6.38%, accessories and other operating income were 7,065,17,700 yuan, and the revenue proportion was 4.51%. The changes in the latter two are not obvious.

Reconstruction, the product structure is relatively single

Nova Xingyun's video image shows that the control industry is a technical dense industry. At present, Nova Nebula has obvious technical advantages in the industry.

Nova Xingyun's equipment and solutions have appeared in multiple top events. For example, the opening ceremony of the Beijing Winter Olympics, Nova Xingyun products include 15,000 square meters of ground screen, ice screen, super giant screen, rocket screen and other display. Provide a full -link control system. In addition, it was also applied to large -scale events such as the National Day celebrations from 2009 and 2019, from 2019 to 2022, and the international top activities such as the Guangzhou Asian Games, the Rio Olympics, and the 2018 World Cup.

As of the date of the signing of this prospectus, Nova Xingyun has five core technologies such as high -precision full -gray -gray bright color correction technology of high -precision full gray gray level, and a small spacing LED display screen quality engine technology. With 787 domestic patents (including 372 invention patents), 9 overseas patents (including 8 invention patents), 173 software copyrights, and 4 integrated circuit cloth designs.

As a high -tech enterprise, during the reporting period, the company's R & D investment accounted for 11.95%, 15.87%, and 13.47%, respectively. As of December 31, 2021, the number of R & D personnel in the company was 581, and R & D personnel accounted for 34.10%of the total number of employees.

At the same time, Nova Xingyun disclosed in the prospectus that in terms of competition, the company has limited financing channels. Compared with foreign competitors such as BARCO, the company is still relatively single, and its business scale is still smaller than other competitors.

In response to the above situation, the reporter of "Daily Economic News" sent an outline to the official mailbox of Nova Xingyun. As of press time, it has not responded.Daily Economic News

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