IPO, approved! Three LED-related companies have new progress on their IPOs!

Shenzhen Vitek New Material Co., Ltd. (Stock Abbreviation: Vitek, Stock Code: 301319) went public on the ChiNext Board of the Shenzhen Stock Exchange on September 29.

VITEO is this time issuing 14.66 million shares to the public, of which 14.66 million new shares are issued publicly at a price of 47.75 CNY per share, raising 700 million CNY in new share proceeds, with a total share capital of 58.64 million shares after issuance.

Image source: Panoramic

Shenzhen Vitro New Material Co., Ltd. was founded in 1998. It is one of the first batch of national key high-tech enterprises and possesses an engineering center certified by Guangdong Province. Vitro's main business covers the R&D, production, and sales of microelectronics soldering materials. Its main products include solder paste, solder wire, solder bars, and other microelectronics soldering materials, as well as fluxes, cleaners, and other auxiliary soldering materials.

公司生产的微电子焊接材料作为电子材料行业的重要基础材料之一，主要应用于 PCBA 制程、精密结构件连接、半导体封装等多个产业环节的电子器件的组装与互联，并最终广泛应用于消费电子、LED、智能家电、通信、计算机、工业控制、光伏、汽车电子、安防等多个行业。

During the reporting period, the company served an average of over a thousand customers annually and has established high industry recognition and brand effect. The company's main customers include TPV Technology, ZTE, Foxconn, Aohai Technology, Haier Smart Home, Gree Electric Appliances, Lenovo Group, TCL, BYD, Strong Giant Color, Absen, Trina Solar, Jinko Solar, TP-LINK (Puhua Technology), Luxshare Precision, Bull Group, Hikvision, Huawei, DJI Innovation, and other well-known domestic enterprises. At the same time, the company also serves foreign well-known terminal brand customers such as HP, Dell, Amazon, and Whirlpool through large EMS manufacturers like Foxconn and Jabil Electronics.

Among them, the high-strength low-temperature solder paste for LED packaging has been awarded the honorary title of High-Tech Product in Guangdong Province. In the LED field, Vitronic's product terminal applications include LED displays/lighting, fine-pitch LEDs, Mini LED, Micro LED, etc.

Vitro's revenue has shown rapid growth, increasing from 518 million yuan in 2019 to 863 million yuan in 2021, a rise of 66.60%; net profit increased from 54.1601 million yuan in 2019 to 82.3137 million yuan in 2021.

On September 28, it was reported that at the Beijing Stock Exchange's 47th review meeting in 2022, GELIER (831641) passed approval.

格利尔主要从事照明产品及磁性器件的研发、生产和销售，业务布局兼顾广度与深度，多年来坚持照明业务与磁性器件业务协同发展。据介绍，公司以磁性器件技术为支撑，广泛拓展照明、新能源、通信、工业控制、电声器件等多领域应用场景；同时深挖照明场景，掌握从电源到LED灯具等照明产业相关技术，将产业链延伸至终端照明解决方案。

Grier stated that the company has established a flexible production line including core manufacturing processes such as SMT fully automatic placement, AI automated insertion, lead-free wave soldering, automatic conformal coating, automated assembly, and assembly lines, capable of achieving efficient production of LED emergency lights, emergency power supplies, healthy lighting luminaires, LED street lights, and other products.

Lighting business segment, the company has become one of the core suppliers of brand products such as Emergency lighting and Healthy lighting for international well-known enterprises like Cooper Lighting.

Furthermore, in the lighting sector, the company has evolved from a single provider of lighting products and components into a comprehensive service provider integrating R&D, manufacturing, project planning, implementation, and operations management. The company's Solution integrates various sensors, smart LED luminaires, smart control panels, smart gateways, communication control modules, digital displays, and other equipment. The company has completed the design and construction of intelligent street light systems, intelligent landscape lighting systems, and smart park lighting systems in multiple cities including Xuzhou, Xi'an, Huai'an, and Suqian. In 2018, it successfully implemented the design and construction of an overall solar lighting intelligent control system for four cities in Bangladesh.

According to the Beijing Stock Exchange official website, Geli's application materials were accepted on June 23, 2022, the second round of inquiries was responded to on September 8, and the meeting was passed on September 28.

The prospectus discloses that the company plans to raise approximately 103 million yuan via IPO for the smart manufacturing base construction project, R&D center construction project, and working capital supplementation.

Additionally, the company is a National High-Tech Enterprise and possesses the Jiangsu Provincial Industrial Enterprise Technology Center and the Jiangsu Provincial Engineering Center. As of September 2022, the company has obtained 151 [[Patent|patents]], including 22 invention patents and 78 utility model patents.

Regarding performance, in the first half of 2022, the company achieved revenue of 325 million yuan, a year-on-year increase of 55.92%, and net profit of 37.4 million yuan, a year-on-year increase of 249.55%.

The 70th review meeting of the ChiNext Listing Committee was held on September 27, 2022. The review result for Shenzhen Minbao Optoelectronics Co., Ltd. (initial public offering) is: compliant with issuance conditions, listing conditions, and information disclosure requirements.

据悉，这是民爆光电第二次冲刺深交所创业板。2020年7月22日，民爆光电曾向深交所申请创业板上市，后历经5轮问询、6次更新招股说明书，最终在2021年9月撤回上市申请。时隔8个月，民爆光电于2022年5月再度申请创业板上市，截至目前进展顺利。

Minbao Optoelectronics was founded in 2010. It is a high-tech enterprise focused on the green lighting business, primarily engaged in the R&D, design, manufacturing, sales, and services of LED lighting products. The company mainly has two business segments: commercial lighting and industrial lighting. Minbao Optoelectronics specializes in commercial lighting, while its subsidiary Agost specializes in industrial lighting.

作为中国的高新技术企业，民爆光电曾获2020年度中国LED行业营收50强企业。子公司艾格斯特亦是工业照明出口领域的领军企业，售卖的工矿灯、泛光灯以及路灯等主要产品在行业内位居前列。

业绩方面，2019-2021年，民爆光电分别实现营业收入10.82亿元、10.59亿元、14.97亿元，归母净利润分别为2.00亿元、1.74亿元、1.68亿元。此外，民爆光电的产品主要是销售至境外，服务境外区域性品牌商和工程商。

For this IPO, Minbao Optoelectronics plans to issue no more than 26.17 million shares and raise 1.102 billion yuan in funds, to be invested in two major projects: "Automated expansion of LED luminaire production" and "Construction of headquarters building and R&D center," along with working capital supplementation.

Among them, the LED luminaire automation capacity expansion project further expands the company's existing production capacity, increases the degree of automation in production, and enhances the company's operational scale and profitability; the Minbao Optoelectronics R&D center construction project further increases investment in the R&D field, strengthens the ability to convert customer needs into revenue, improves the company's profitability and core competitiveness; the working capital supplementation project will provide financial assurance for the company's rapid development and enhance its long-term growth potential.