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新股网下申购询价建议报告:圣元环保(300867)、杰美特(300868)、 康泰医学(300869)

IPO Offline Purchase Request Proposal Report: Shengyuan Environmental (300867), Gemet (300868), Kangtai Medical (300869)

東莞證券 ·  Jul 31, 2020 00:00  · Researches

  At the beginning of its establishment, the company was mainly engaged in trade business. Since 2004, the company has been involved in the environmental protection industry and changed its main business to domestic sewage treatment business. In 2006, the company entered the domestic waste incineration power generation field, and gradually formed a business pattern for the specialized treatment of urban solid and liquid waste for domestic waste incineration power generation and domestic sewage treatment. The company's domestic waste incineration power generation project uses internationally accepted, mature and advanced mechanical furnace exhaust technology. In the flue gas treatment process, the treatment technology of SNCR denitrification, semi-dry reactor, activated carbon injector, and bag dust collector combined is used to effectively ensure that domestic waste is fully burned and treated with pollutants. The Putian Shengyuan Waste-to-energy Plant was rated as a “National Key Environmental Protection Practical Technology and Demonstration Project” by the China Environmental Protection Industry Association in 2018.

In 2017-2019, the company's revenue was 427, 727, and 888 million yuan respectively, and net profit was 0.64, 210 and 217 million yuan respectively. The compound growth rates of operating income and net profit over the three years were 44.28% and 84.61%, respectively. In 2019, the company's consolidated gross profit margin was 46.13%, and the net interest rate was 24.45%.

The company is a high-tech enterprise specializing in R&D, design, production and sales of mobile smart terminal accessories. The product types are mainly smartphone and tablet protective accessories, covering mobile power supplies, data cables and other accessories. The company insists on developing the market by combining ODM/OEM with its own brand, insists on the idea of expanding ODM/OEM business, strengthening its own brand, and providing customers with better products and services. The company is one of the earliest enterprises engaged in ODM/OEM business for mobile smart terminal accessory products in China. It has a mature development and design team and professional manufacturing technology. It is one of the few enterprises in the industry with the full process of “R&D and design - mold development - manufacturing - packaging and storage” and large-scale production capacity. It can provide comprehensive services in design support, rapid samples, large-scale mass production, etc. in response to customer needs. With rich R&D and design, multi-process production experience, and stable and reliable quality assurance, the company has established good and stable cooperative relationships with smart terminal manufacturers such as Huawei and internationally renowned smart terminal accessory brands such as Targus and Pelican. The products are widely used in Huawei, Apple and other brand terminals. The company has obtained permission to use the world-famous Disney and Hello Kitty trademarks and cartoon images in its own brand products. The company has a rich product range of its own brand products. Its main customers have covered the top 100 global retail customers such as Walmart, Amazon, Target, and Best Buy, and its products are sold in many countries or regions such as the United States, Europe and Japan.

The company's revenue in 2017-2019 was 541, 647, and 829 million yuan respectively, and net profit was 0.40, 0.61, and 131 million yuan respectively. The compound growth rates of operating income and net profit over the three years were 23.81% and 81.47%, respectively. In 2019, the company's consolidated gross profit margin was 39.10%, and the net interest rate was 15.82%.

The company belongs to the medical device industry and is a high-tech enterprise specializing in R&D, production and sales of medical diagnosis and monitoring equipment. Since its establishment, the company has always been committed to the R&D, production and sales of medical diagnosis and monitoring equipment. Its products cover various categories such as oxygen, ECG, ultrasound, monitoring, and blood pressure, and has established a complete R&D, production and sales system. With good performance and high brand awareness, the company's products have been sold to more than 130 countries and regions around the world. The company is located in the Qinhuangdao Economic and Technological Development Zone, which focuses on developing the medical device industry. It covers an area of more than 100 acres and has a construction area of more than 100,000 square meters. It is one of the largest medical device R&D and production bases in the country. It has a complete and scientific quality management system. The company's integrity, strength and product quality have been recognized by the industry.

The company's revenue in 2017-2019 was 398, 363, and 387 million yuan respectively, and net profit was 0.77, 62, and 74 million yuan respectively. The compound growth rates of operating income and net profit over the three years were -1.34% and -2.15%, respectively. The company's comprehensive gross profit margin in 2019 was 47.23%, and the net interest rate was 19.05%

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