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新股网下申购询价建议报告-朝阳科技(002981)

Recommendation report on offline purchase of new shares-Chaoyang Technology (002981)

東莞證券 ·  Mar 27, 2020 00:00  · Researches

The company is a high-tech enterprise specializing in the research and development, production and sales of electro-acoustic products, mainly headphones and electro-acoustic product accessories. The company has mastered the production technologies such as communication wire processing technology, radio frequency test analysis and optimization technology, headphone waterproof technology and active noise reduction technology, and has established a R & D and production system covering major electro-acoustic products and electro-acoustic accessories. it can provide all kinds of intelligent or special function headset products for downstream electro-acoustic product brands and intelligent terminal manufacturers. Such as intelligent sports headphones, intelligent translation headphones, TWS headphones, high waterproof Bluetooth sports headphones, active noise reduction headphones, etc., and produce high-quality electro-acoustic accessories for downstream electroacoustic products manufacturers. Since its establishment in 2005, the company has established a good reputation in the electro-acoustic industry, has established stable cooperative relations with a number of large customers, and has entered the supply chain of well-known intelligent terminals and electro-acoustic brands, such as Apple Inc, Beats, Samsung, XIAOMI, Meizu, Asustek, Microsoft Corp, Anke, etc.

From 2017 to 2019, the company's income was 647 million yuan, 595 million yuan and 828 million yuan respectively, and the net profit was 81 million yuan, 77 million yuan and 83 million yuan respectively. The compound growth rate of operating income and net profit in the three years was 13.11% and 1.6% respectively. In 2019, the company's comprehensive gross profit margin is 22.04%, and the net profit rate is 10.05%.

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