The company focuses on providing electronic process system solutions and implementation solutions for electronic process products for the electronic manufacturing industry. The company's profit model is to achieve the sales of related electronic process products by providing independently developed electronic process solutions. When the conditions are ripe in the future, the company's process solutions may be charged separately.
The main business income is mainly composed of electronic tools, chemical accessories and electronic equipment, accounting for more than 70% of the revenue. Electronic tools is the company's core business, the development of this business will drive chemical accessories, electronic equipment and other business.
The company is the most powerful electronic process supplier in China, has mastered the complete electronic process technology system, can provide more than 5,000 kinds of products, has more than 30 professional electronic process technology R & D engineers and more than 50 experienced electronic process product application engineers, and has obtained the qualified supplier qualification of dozens of international well-known large-scale electronic production enterprises. Marketing outlets are located in the Pearl River Delta, Yangtze River Delta and Bohai Bay and other concentrated areas of the electronics industry.
The electronic process industry is accompanied by the evolution of the manufacturing mode and the demand for changes in the technological process. The development trend of outsourcing, cost control and rapid response of the electronic manufacturing industry has driven the development of the electronic process industry. CCID predicts that the electronic process industry will maintain a growth rate of about 14% in the future.
Most of the foreign electronic process manufacturers are transformed by the well-known suppliers of electronic process products through service and technology upgrading. Domestic enterprises are in an inferior position in global layout, internationalization and brand awareness. Competitiveness needs to be further improved.
The company plans to raise 187.1671 million yuan to invest in the new marketing network and logistics distribution center construction project and the new Asia electronic process technology center project. After the implementation of the fund-raising project, it will optimize the layout of the company's marketing network, improve the company's marketing network coverage, enhance the company's rapid response ability and service quality, and improve the company's technical ability.
We expect the company's sales revenue in 2010, 2011 and 2012 to be 493 million yuan, 678 million yuan and 819 million yuan respectively, the net profit attributable to the owner of the parent company is 44.02 million yuan, 59.88 million yuan and 71.23 million yuan respectively, and the fully diluted EPS is 0.40,0.54,0.64 yuan respectively.
At present, the 10-year average PE of the electronics industry is 38 times. We suggest that the inquiry range is 9.91-11.90 yuan, corresponding to 25-30XPE for 10 years. At the same time, it is inferred that the market may raise the inquiry range by 11 to 13 yuan. The reasonable target price for listing is 13.49-16.18 yuan, corresponding to 25-30XPE for 11 years.