This LED equipment company went public on the Shenzhen Stock Exchange today!

Dongguan Kaige Precision Machinery Co., Ltd. went public on the ChiNext board of the Shenzhen Stock Exchange on August 16. The company's stock abbreviation is "Kaige Precision Machinery," with stock code "301338." The total share capital is 76,000,000 shares, and the issue price is 46.33 yuan per share.

(Image source: Quanjing.com)

It is reported that Kage Precision Machinery is mainly engaged in the R&D, production, sales and technical support services of automated precision equipment, establishing its industry position with 17 years of profound technical accumulation. The automated precision equipment produced by the company is mainly applied to the electronic assembly link and LED packaging link in the field of electronic industrial manufacturing. The company's main products are solder paste printing equipment, and it also operates LED packaging equipment, dispensing equipment and flexible automation equipment.

In recent years, the company's main business revenue by product category is as follows:

Among them, the solder paste printing equipment produced by the company is the main equipment for electronic component assembly and electrical connectivity in electronic industrial enterprises. Taking the core product GKG brand fully automatic solder paste printing equipment as an example, solder paste printing equipment is essential automated precision equipment for SMT/COB production lines, with a penetration rate in electronic production lines reaching nearly 100%.

LED packaging equipment is mainly applied in production processes such as LED chip packaging and LED die bonding, ultimately used in LED lighting and display products. According to KaiGe Precision Machinery, the company's LED die bonding equipment can achieve a die bonding efficiency of 80,000/hour or higher, a die bonding accuracy of up to ±25.4μm, and a worktable resolution as fine as 0.5μm. It maintains high die bonding precision while ensuring high speed, effectively meeting the die bonding demands driven by the increasing integration trend of current LED devices.

High-efficiency, high-volume chip transfer for Mini LED and Micro LED is a key step in breaking through mass production bottlenecks, placing higher demands on the chip transfer speed of die bonding equipment. In the field of LED packaging equipment, the company masters both Pick & Place and needle ejector methods, the two main industry die bonding solutions, and has applied these technologies to mass production equipment to meet future Mini-LED process requirements. For example, the GD91M series die bonding equipment can achieve a maximum efficiency of 150,000 UPH (with six heads operating simultaneously) and a die bonding accuracy of ±15μm@3σ, suitable for processes involving direct-view RGB fine-pitch and Mini LED display devices. Meanwhile, needle ejector technology can also be applied to LED chip sorting, filling a domestic gap.

The company's market share in LED packaging equipment is relatively low, but it has promising market prospects. The prospectus indicates that as global consumer demand recovers, the diffusion and acceleration of lighting, backlighting, display, and new applications, along with the gradual increase in market penetration of emerging application areas such as high luminous efficacy LED, automotive LED, and UV/IR LED, are helping the industry move past its trough and enter a new cycle of prosperity. Financial data shows that in 2021, Kage Jingji's revenue from LED packaging equipment increased by 123.79% year-on-year (YoY).

As a well-known brand in the electronic assembly field, Kaige Precision Machinery achieved revenue of RMB 515 million, RMB 595 million, and RMB 797 million from 2019 to 2021, with net profit attributable to shareholders of RMB 48.6892 million, RMB 84.1864 million, and RMB 112 million respectively.

Qiu Guoliang, Chairman of KG Precision Machinery

(Image source: Quanjing.com)

Kaige Precision Machinery stated that it will continue to deepen basic technology research and application product development in fields such as electronic assembly equipment, Mini/Micro LED packaging and testing equipment, and semiconductor equipment. With this listing on the capital market, Kaige Precision Machinery will leverage capital to seize opportunities in high-end intelligent manufacturing equipment, build core competitive barriers, achieve long-term value growth, and embark on a new journey.