On July 21st, Caixin reported that in the eighth round of private placement since its listing, unittec co.,ltd attracted 2 peers and a number of institutions. 7 private equity firms contributed nearly 60% of the fundraising. What makes this small-cap stock, which has a market capitalization of only 3.2 billion yuan, so attractive?

According to its official website, unittec co.,ltd, originally known as the Zhejiang University Semiconductor Factory established in 1970, was restructured into a joint-stock company in June 1999 and listed on the Shenzhen Stock Exchange. According to statistics from hithink royalflush information network, unittec co.,ltd had previously completed 7 rounds of private placement, with actual net fundraising of RMB 3.072 billion.

According to the announcement, unittec co.,ltd issued 130 million shares in the new round of private placement at a price of 5.25 yuan per share, raising a total of 0.684 billion yuan. 7 private equity firms invested 0.41 billion yuan to receive 78.1143 million shares, accounting for nearly 60% of the total amount raised in this round. Hangzhou Urban Investment and Development Group Co., Ltd., the largest single subscriber, invested 0.17 billion yuan to receive 32.381 million shares and will become the largest shareholder of unittec co.,ltd after the issuance of additional shares; Meanwhile, 2 other private equity firms, Shanghai Tiano Trading Investment and Zhejiang Yinwan Capital, have also become new top ten shareholders of unittec co.,ltd.

The list of investors receiving shares also shows the name Guo Fengming, and the chairman of rail transit equipment stock keanda also received 5.7143 million shares for an investment of 30 million yuan; In addition, smart rail transit stock pci technology group received 11.4296 million shares for an investment of 60 million yuan.

Public information shows that unittec co.,ltd focuses on four major business units: intelligent transportation, semiconductors, digitalization of industry and big health. The "intelligent transportation + general semiconductors" model ranks among the top three in the national signal market and was the first to launch a domestically produced safety control chip in the signal system industry.

As of the end of the second quarter, no public fund product had a heavy position in unittec co.,ltd. However, a number of private equity firms and brokerages have conducted research on unittec co.,ltd this year. According to the research records, unittec co.,ltd ranks in the top tier of the domestic urban rail signal system sector, with a market share ranking second in 2023 and a market share of new line orders in the first place. At the research meeting, unittec co.,ltd also pointed out that the company has gradually demonstrated long-term investment value in three areas.

Seven private equity firms contributed nearly 60% of the fundraising.

In this round of private placement, 7 private equity firms received a total of 78.1143 million shares, investing a total of 0.41 billion yuan. This accounts for 59.94% of the total amount raised in this round. Among them, Hangzhou Urban Investment and Development Group Co., Ltd. invested 0.17 billion yuan to receive 32.381 million shares, becoming the largest single subscriber in this round of private placement; At the same time, Shanghai Tiano Trading Investment, Zhejiang Yinwan Capital, Shanghai Bancsheng Investment, Qingdao Luxiu Investment, and Shanghai Muxin Capital all received shares, and their respective investments and shares are: 16.7619 million shares for 88 million yuan, 13.0667 million shares for 68.6 million yuan, 7.0857 million shares for 37.2 million yuan, 5.7714 million shares for 30.3 million yuan, 1.5238 million shares for 8 million yuan, and 1.5238 million shares for 8 million yuan.

Specifically, Hangzhou Urban Investment and Development Group Co., Ltd. invested 0.17 billion yuan to receive 32.381 million shares, becoming the largest single subscriber in this round of private placement; At the same time, Shanghai Tiano Trading Investment-Tiancheng Orange No. 2, Zhejiang Yinwan Capital - Yinwan Quanying 56, Shanghai Bancsheng Investment-Bansheng Optimum Selection 5, Hangzhou Aibin Zhongfa Equity Investment Partnership (Limited Partnership), Qingdao Luxiu Tou - Luxiu Xunlu 95, and Shanghai Muxin assets - muxin mingxin hedge 1 all received shares, and their respective investments and shares are: 16.7619 million shares for 88 million yuan, 13.0667 million shares for 68.6 million yuan, 7.0857 million shares for 37.2 million yuan, 5.7714 million shares for 30.3 million yuan, 1.5238 million shares for 8 million yuan, and 1.5238 million shares for 8 million yuan.

According to the Asset Management Association of China (AMAC), Shanghai Tiano Trading Investment, Zhejiang Yinwan Capital, Shanghai Bancsheng Investment, Qingdao Luxiu Investment, and Shanghai Muxin assets are all private equity fund companies in the securities category. Apart from Shanghai Bancsheng Investment, whose assets under management are in the 0-0.5 billion yuan range, the AUM of the other four private equity firms are between 2-5 billion yuan; Through equity analysis, Hangzhou Urban Investment and Development Group Co., Ltd and Hangzhou Aibin Zhongfa Equity Investment Partnership (Limited Partnership) have state-owned capital backgrounds and the former is a limited partnership company established by Hangzhou Urban Investment Group with investments from the provincial finance department and national development fund, etc..

Nord Fund and Caitong Fund invested a total of RMB 97.5 million to receive 12.4762 million shares and 6.0952 million shares, respectively.

Pci technology group, an A-share listed company, was allocated 11.4296 million shares with an investment of 60 million yuan. Two foreign institutional investors, UBS AG and Morgan Stanley, were allocated 6.8571 million shares and 1.5238 million shares respectively with a subscription of 36 million yuan and 8 million yuan respectively. Guosen Securities was allocated 1.9048 million shares, with an investment of 10 million yuan.

In addition, four individuals, Guo Fengming, Lu Weidong, Liang Qingxiang, and Luo Feijie, were allocated 5.7143 million shares, 2.4762 million shares, 1.9048 million shares, and 1.7143 million shares respectively, with investments of 30 million yuan, 13 million yuan, 10 million yuan, and 9 million yuan respectively.

As of the issuance of the allotment shares (July 10th), the top ten shareholders of Unittec Co., Ltd. are Zhejiang Bozhong Intelligent Technology Innovation Group Co., Ltd., Unittec Co., Ltd. - Second Phase Employee Stock Ownership Plan, Unittec Co., Ltd. - Fourth Phase Employee Stock Ownership Plan, Zhejiang Yinwan Capital - Quanying No. 2, Zhejiang Yinwan Capital - Yinwan Quanying No. 52, Guotai Junan Repurchase Special Account, Zhejiang University Science and Technology Industry Group Co., Ltd., Zhejiang University Education Foundation, Shanghai Tiancheng Investment, and Unittec Co., Ltd. - 2022 Employee Stock Ownership Plan.

Based on the above shareholding situation, regardless of other situations, after the registration of the allotment shares, Hangzhou City Investment Industry Development Investment Partnership (Limited Partnership), Shanghai Tiancheng Investment-Tiancheng Orange No.2, Zhejiang Yinwan Capital - Yinwan Quanying No. 56, will become the top ten shareholders of Unittec Co., Ltd., ranking first, fourth and fifth respectively.

Unittec Co., Ltd. is in the first echelon of intelligent rail transit.

The public second-quarter report has been released, but as of the end of the second quarter, no public product held a significant position in Unittec Co., Ltd. However, according to research records, the participants in the four research conferences organized by Unittec Co., Ltd. this year were mostly private equity and brokerage firms.

On May 4th of this year, several private equity firms attended Unittec Co., Ltd.'s research conference, including Changbaishan Equity Investment, Jinku Qikai, Jilin Capital, Yingzhichuan, Wanrun Capital, Juzheng Asset, Lanlin Investment, Hangzhou Golden Investment, Taizhou City Investment, and Dongfang Securities' venture capital subsidiary Dongzheng Innovation.

At the conference, Unittec Co., Ltd. stated that the industry competition in the field of urban rail signal systems is very stable and the top three market shares are basically between 65% and 70%. Casco ranks first, Unittec Co., Ltd. and Traffic Control Technology rank second and third respectively.

According to the research record of May 10th, Unittec Co., Ltd. believes that its long-term investment value has gradually manifested in three aspects:

First, digital transformation is the only way to achieve high-quality development. The company's comprehensive transition to digital business practice of the "1+2+N" strategy conforms to the future long-term development trend. Moreover, digital business includes computing power, data services, smart hardware, big data platform, and industry solutions, all of which have long-term development potential.

Secondly, the company's current main business has the core competitiveness of long-term stable development: 1) The signal system market share ranks second in the industry, and the market share of new line order ranks first; 2) The TVS research and development grinding piece market share has firmly ranked first in the domestic market, and 4-inch and 5-inch polishing pieces have all achieved market share of the first rank; 3) Digital business based on the company's deep industry accumulation in major transportation scenes has a competitive advantage.

Third, the company is gradually improving its corporate governance structure, establishing a team incentive mechanism to support the company's long-term development. The company has established a career partner system to help introduce strategic talent, strengthen the vitality of the company, and optimize resource allocation capabilities. At the same time, the company has strengthened the competitive mechanism that focuses on the results of operations, and through the talent optimization mechanism, the overall capabilities of the team have been enhanced.