China Securities Regulatory Commission: Approved the IPO registration of Xinji Micro Equipment on the Science and Technology Innovation Board

 On February 2, the China Securities Regulatory Commission issued an announcement stating that recently, the Commission has approved the registration of the initial public offering of shares of Xingji Micro Equipment on the Science and Technology Innovation Board in accordance with legal procedures. Xingji Micro Equipment and its underwriters will negotiate with the Shanghai Stock Exchange to determine the issuance schedule and publish the prospectus in succession.

It is understood that Xingji Micro-Equipment specializes in the research and development, manufacturing, sales and corresponding maintenance services of direct imaging equipment and direct writing lithography equipment with micro-nano direct writing lithography as the core technology. The main products and services include PCB direct imaging equipment and automatic line systems, pan-semiconductor direct writing lithography equipment and automatic line systems, other laser direct imaging equipment and after-sales maintenance services for the above products. The product functions cover multi-field lithography links from microns to nanometers.

Xingji Micro-Equipment is one of the few domestic suppliers of PCB direct imaging equipment and pan-semiconductor direct writing lithography equipment that possesses key core technologies in the field of lithography technology and can actively participate in global competition.

Xingji Micro-Equipment focuses on serving customers in the PCB and pan-semiconductor fields of the electronic information industry, including Shenzhen South Circuit, Tripod Technology, Shenghong Technology, Jingwang Electronics, Rochetek, Honghuasheng (a joint venture of Hon Hai Precision Industry), Fushi Electronics, Bomin Electronics, Red Board Company, Mutual Shares, Bocheng Technology, Taiwan Soft Electronics, Xunjia Electronics, Zhuhai Yuansheng (a subsidiary of Zhongjing Electronics), Pronovi (a subsidiary of Chongda Technology), Simai Micro, Guoxian Optoelectronics (a subsidiary of Visionox), Institute of Semiconductors, Chinese Academy of Sciences, Laser Fusion Research Center, China Academy of Engineering Physics, the 11th Institute of China Electronics Technology Group Corporation, University of Science and Technology of China, Huazhong University of Science and Technology, Guangdong University of Technology, etc.

From 2017 to 2019, the operating income of Xingji Micro-Equipment was RMB 22.1804 million, RMB 87.2953 million and RMB 202.2612 million respectively, and the net profit was RMB -6.8467 million, RMB 17.2927 million and RMB 47.6251 million respectively.

Among them, the revenues of Xingji Micro-Equipment PCB series products during the reporting period were RMB 18.2341 million, RMB 52.4711 million and RMB 192.4285 million, respectively, accounting for 82.21%, 60.11% and 95.14% of the main business revenue, respectively, and were the main source of product sales revenue.

During the reporting period, the revenue of the Pan-semiconductor series products of Xinji Micro-Equipment was 5%, 37.61% and 1.04%. In 2018, the sales amount and proportion of the Pan-semiconductor series products were high, mainly because the company sold one set of OLED display panel direct writing lithography automatic line to Guoxian Optoelectronics (a subsidiary of Visionox) in 2018, with a total sales amount of RMB 29.9145 million.

In terms of R&D investment, from 2017 to 2019, the R&D expenses invested by Xingji Micro Equipment were RMB 7.918 million, RMB 16.981 million and RMB 28.5495 million respectively, and the investment in R&D expenses has been continuously increased. The continuous investment in technology R&D has accumulated a large number of technological achievements for the company. As of December 31, 2019, the company has obtained 67 national patent authorizations, including 23 invention patents.

In this IPO, Xingji Micro-Equipment raised 473 million yuan for high-end PCB laser direct imaging (LDI) equipment upgrade and iteration projects, wafer-level packaging (WLP) direct writing lithography equipment industrialization projects, flat panel display (FPD) lithography equipment R&D projects and micro-nano manufacturing technology R&D center construction projects.