Two lighting companies make new progress in their IPOs

Galaxy Shares IPO Accepted

Recently, the application materials for the issuance of shares on the ChiNext Board by Foshan Galaxy Lanjing Technology Co., Ltd. (abbreviated as "Galaxy Shares") were accepted. The sponsor is Yangtze Securities Underwriting and Sponsorship. After this stock issuance, it is planned to list on the ChiNext Board of the Shenzhen Stock Exchange.

The prospectus shows that Galaxy Shares plans to publicly issue no more than 19.66666 million shares, aiming to raise 661 million yuan. The raised funds will be allocated to the following projects and investment amounts: Galaxy Shares Shunde Production Base Construction Project (approx. 287 million yuan); Hanrun Technology Gaoming Production Base Phase I Construction Project (approx. 164 million yuan); Smart Lighting System Engineering Technology R&D Center (approx. 50.0095 million yuan); Supplement Working Capital (approx. 160 million yuan).

Galaxy Shares' main business covers the R&D, production, and sales of luminaires, multimedia projectors, interactive installations, and intelligent control systems in the fields of municipal lighting, cultural tourism lighting, commercial lighting, ancient building lighting, and indoor lighting. Main products include linear lights, floodlights, ground-mounted lights, tree lights, indoor luminaires, multi-strand media projectors, interactive installations, and intelligent control equipment and systems.

In terms of performance, from the first half of 2018 to the first half of 2021, Galaxy Shares achieved revenue of 235 million yuan, 315 million yuan, 278 million yuan, and 252 million yuan, with corresponding net profits of 363,100 yuan, 54.9664 million yuan, 42.615 million yuan, and 45.2833 million yuan.

It is understood that Galaxy Shares is a benchmark high-tech enterprise and a specialized, refined, distinctive, and innovative (SRDI) enterprise in Foshan City. It possesses an automated outdoor lighting luminaire production line and a laboratory and testing center certified by CNAS. From 2018 to the first half of 2021, the company's R&D expenses were 9.4503 million yuan, 10.8567 million yuan, 9.85 million yuan, and 7.4187 million yuan, accounting for 4.03%, 3.45%, 3.55%, and 2.94% of revenue respectively.

Gumai Optoelectronics plans to IPO

On December 22, GuMai Optoelectronics Technology Co., Ltd. (abbreviated as "GuMai Optoelectronics") disclosed its prospectus (submission draft). For this public offering, GuMai Optoelectronics Technology Co., Ltd. plans to issue no more than 25.77 million new shares, representing not less than 25% of the total share capital after issuance; this offering does not involve the public sale of shares by existing shareholders.

The funds raised in this round are allocated to the following projects with the planned investment amounts: Backlight LED device capacity expansion project, planned investment of approximately 338 million RMB; Optical lens capacity expansion project, planned investment of 81.2347 million RMB; R&D center construction project, planned investment of 72.0241 million RMB. After this stock issuance, we plan to go public on the ChiNext Board of the Shenzhen Stock Exchange.

Sanan Optoelectronics' main business is the R&D, production, and sales of electronic components in the field of optoelectronic display. Main products include various series of backlight LED devices, optical lenses, light guide plates,胶框 (plastic frames), integrated plastic-metal structures, backlight units, LCD modules, etc., widely used in smartphones, tablets, laptops, industrial control displays, home displays, medical displays, and other fields.

Revenue of Sanan Optoelectronics by product category