share_log

芯智控股有限公司(2166.HK)新股速递

Core Intelligence Holdings Limited (2166.HK) New share Express

致富證券 ·  Sep 28, 2016 00:00  · Researches

Introduction of shares

Main date:

Public launch closing date: September 30, 2016 at 12: 00 noon scheduled deadline: September 30, 2016

Announcement application results: October 6, 2016

Launch date: October 7, 2016

The family guarantor:

DBS Fuzhou Finance Co., Ltd.

Summary of statistics:

Number of shares sold globally: 125000000 shares

Proportion of shares sold in Hong Kong: 10.0%

Sales: HK $1.77 to HK $2.39

Estimated collection of funds: 221 million to 299 million Hong Kong dollars

Income per hand: HK $4828.17

A summary of the collection

It is a local distributor of integrated circuits and other electronic components in China, using online and offline (OAO) service models, providing customers with a variety of integrated circuits and other electronic components, as well as comprehensive value-added services (including providing engineering solutions and field application engineering support to customers) to assist customers in the development of provincial products. The products of the collection are used in intelligent media display, intelligent broadcast terminal, mobile terminal, intelligent automobile computer and memory products, etc. The centralized e-commerce platform includes sales platform core smart city and retail platform SuperIC community and SuperIC airline.

According to the report of E-Commerce, in terms of 15-year revenue, it is the eighth largest electronic component distributor in China, accounting for about 0.13% of the market share; at the same time, it is also the fifth largest integrated circuit in China, accounting for about 0.13% of the market share. By the end of March 16, there were more than 1300 customers in the market, including customers and small and medium-sized enterprises.

Industry summary

According to the report of the e-commerce database, the local integrated power supply market in China has increased from about 190 billion yuan in 12 years to 240 billion yuan in 15 years, and is expected to reach 5.2 billion yuan in 18 years.

According to the report by e-commerce, the penetration rate of online integrated electric circuits in China's local region has increased from 0.1% in 11 years to 10.0% in 15 years, and is expected to reach 26.8% in 18 years.

Cymbals

In the 13th, 14th and 15th financial years, sales to the five major suppliers accounted for more than 90% of the total, while those to the largest suppliers accounted for more than 70% of the total. If these suppliers restrict the distribution rights of the collection, or carry out repairs that are disadvantageous to the collection, or affect the business, business conditions and operating conditions of the collection.

Valuation

According to the IPO documents, as of March 31, 16, calculated on the basis of more than 50 million shares expected to be issued after the completion of the sale of the shares, after deducting the final dividend of US $3 million declared on April 1, 16, the shares should account for 4821.70 to 5793.70 US dollars of the tangible assets of the integrated financial assets that have not yet been audited. Equivalent to an untested tangible assets value of HK $0.75 to HK $0.90 per share (at an exchange rate of US $1.00 to HK $7.75).

The translation is provided by third-party software.


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