Focusing on the engineering rock breaking tool, Hubei "Little Giant" Hengli Drilling Ware passed the Counseling Acceptance of the Bei Stock Exchange

21st Century Business Herald reporter Liu Qian intern reports Wuhan report

Combined with the situation of special specialized new "little giants" and high -tech enterprises, Hubei is stepping up the new track of the Beijing Stock Exchange that seized the capital market.

On June 21, Wuhan Hengli Engineering Drill Co., Ltd. (836942.NQ, hereinafter referred to as "Hengli Drilling") issued an application for public issuance shares and announced on the listing of the Bei Stock Exchange and its progress announcement. According to the announcement, on June 21, the company received the "Completion of the Acceptance Work on the Acceptance Work on the Counseling of the Yangtze Securities Construction Summary Co., Ltd." issued by the Hubei Regulatory Bureau. A reporter from the company's securities department told the 21st Century Business Herald, "The company is in the listing stage of the Spring Bei Stock Exchange."

Hengli drilling was listed in the New Third Board in April 2016. It is mainly engaged in the research and development, production, sales and services of engineering category breaking tools. In December 2021, it was awarded the title of "Little Giant" enterprise in Hubei Province. According to the annual report, the revenue of Hengli drilling in 2021 was 217 million yuan, an increase of 38.80%year -on -year; the net profit attributable to 48.333 million yuan, an increase of 18.23%year -on -year.

The performance has remained well in the past five years

Benefiting from the shield machine market, which has a stable growth of demand, Hengli Diamond's performance has remained better in the past five years.

The "2017-2022 China Shield Market Monitoring and Investment Prospects Evaluation Report" shows that in 2018, my country ’s shield machine output was 483 units, and in 2021 reached 850 units. The demand for the shield machine market is mainly derived from the subway construction project. According to the plan, during the "Fourteenth Five -Year Plan" period, the mileage of urban rail transit operation in my country is expected to increase 3,000 kilometers. The market size of 700 billion yuan.

As a new infrastructure transportation network related industry, the rock tool industry has also ushered in good development. The main businesses of Hengli Drills include three major sections including TBM knives and shields, top pipe knives, and tool spare parts. From 2017 to 2021, the company's revenue was 102 million yuan, 112 million yuan, 144 million yuan, 156 million yuan, 156 million yuan The yuan and 217 million yuan, the net profit attributable to the net profit from 1.14 billion yuan in 2017 to 49 million yuan in 2021.

In the annual report of 2021, Hengli Drilling said that the state has increased investment in the infrastructure field, which has increased the demand for the market demand for shield tools. Essence

However, the 21st Century Economic Herald reporter noticed that the net cash flow level of Hengli Diamonds still has room for improvement, and has fluctuated in recent years. From 2017 to 2021, the company's net cash flow was 0.10 billion yuan, 0.04 million yuan, 22 million yuan, 104 million yuan, -003 million yuan, which was basically lower than its net profit.

On June 7, the national small and medium -sized enterprise shares transfer system announced the annual report inquiry letter of the Hengli drilling utensils, requiring it to combine the situation of the company's comparison company to explain whether the company's account receivable turnover level is reasonable. The determination of credit loss calculation ratio is determined. The annual report shows that in 2021, the accounts receivable of Hengli drills were 185 million yuan, an increase of 55.90%year -on -year.

In this regard, Hengli's drilling utensils stated in the reply letter, "In the past three years, the company's account receivable turnover rate is relatively stable, which is slightly lower than the industry average. At the end of the year, the company's accounts receivable balance of the central enterprises and state -owned enterprises accounted for 91.00%, 87.75%, and 90.67%. "At the same time, state -owned enterprises have added digital receivables such as" Jianxin Rongtong "and" Yunxin "in recent years. The creditor's certificate is settled, and the account receivable contains the claims of the Credit -by -time receivables, which leads to a large account receivable.

In response to the proportion of bad debts, Hengli drilling utensils said, "The company's comprehensive withdrawal ratio is significantly higher than the average level of the same industry than listed companies. The proportion of bad debts within the end of the bad debt is also higher than De Shi shares and Jikai shares, but the proportion of bad debts for more than 3 years is lower than De Shi shares and Jikai shares. "

Bei Stock Exchange sprint listed on the market

On June 14, the "Sensor's First Share" Audi was listed on the "Sensor" of the Bei Stock Exchange, becoming the fourth -Stock Exchange shares since June of Bond, Rongyi Precision, and Channeng Power.

At present, the total number of listed companies in the Beijing Stock Exchange has expanded to 97, including 12 companies in Beijing, 17 Jiangsu, 12 Guangdong, and 10 Shandong. There are three Hubei companies listed on the Beibei Stock Exchange, namely Taixiang, Huayang Garway, and Minimally Invasive Optoelectronics. The first two companies are in the automotive parts and accessories manufacturing industries.

On June 7, the local financial regulatory bureau of Hubei Province held a television conference call to promote the listing of enterprises in the province and listed on the Northern Stock Exchange and the New Third Board. At the meeting, it was pointed out that all parts of Hubei should incorporate the listing of enterprises on the listing and the New Third Board of the Beibei Stock Exchange into the work assessment content, and increase supervision and performance evaluation.

According to the industry classification of the CSRC, there are 74 manufacturing companies in the Beijing Stock Exchange, of which there are 9 companies with mechanical engineering business, and there are no companies such as shields and TBM tools.

In September last year, Hengli Drilling Steel and Changjiang Securities underwriting sponsoring Co., Ltd. signed the "First Public Publishing Stock Counseling Agreement of Wuhan Hengli Engineering Drilling Co., Ltd. and Changjiang Securities Construction Co., Ltd.", and then reported it to the Hubei Regulatory Bureau. Send a counseling filing application and accept it. Since then, Hengli's drilling utensils have decided to adjust the listing planning of the enterprise. It is planned to change the listing on the GEM to the public offering of shares to unspecified investors and list it on the Beijing Stock Exchange. Change the application report of the listing sector.

Since March of this year, Hengli Drilling has successively disclosed the articles of association and raised funds after the listing of the Beijing Stock Exchange. The company plans to publicize the shares of not more than 14 million shares (the excessive sale options), and the proportion of public shareholders is expected to not be less than 25%of the total share capital, and the issuance base price is 16 yuan/share. The proposed investment projects for raising funds are the project project of the engineering rock breaking tool production base, the research and development of the engineering drill production base, and the supplementary mobile funds. It is planned to use the raised funds of 150 million yuan, 50 million yuan, and 24 million yuan, a total of 224 million yuan.

- END -