On April 19, Rongda Hezhong (Xiamen) Technology Group Co., Ltd. (hereinafter referred to as “Rongda Hezhong”) submitted a prospectus on the Hong Kong Stock Exchange. Yuexiu Finance was the sole sponsor.
According to Ruizai Financial Research, Rongda United is a supplier of automatic identification data collection (AIDC) devices and solutions with operations all over the world. It is engaged in the design, R&D, manufacture and marketing of printing equipment, scales, POS terminals, and PDAs.
According to the prospectus, Xu Kaiming and his brother Xu Kaihe founded a company in China on December 20, 2010. In 2011, Rongda United began to launch products. With a focus on R&D over the past decade, the product portfolio has expanded from printing equipment (including special printers) to scales and POS terminals and PDAs.
In terms of performance, from fiscal year 2021 to fiscal year 2023 (hereinafter referred to as the “reporting period”), Rongdaheon's revenue was RMB 380 million, 393 million yuan and 349 million yuan, respectively. The corresponding net profit was RMB 29.276 million, 374.47 million and RMB 27.60.3 million, respectively. The corresponding adjusted net profit was RMB 33.285 million, 45.05 million, and 36.208 million yuan, respectively.
During the reporting period, Rongda Hezhong printing equipment revenue accounted for 74.7%, 77.4%, and 74.9% of total revenue, respectively. In terms of gross margin, in the same period, Rongda Heong's gross margins were 23.5%, 22.8%, and 24.5%, respectively.
From fiscal year 2021 to fiscal year 2023, the sales volume of Rongda Hezhong printing equipment was 1,618,000 units, 1.631 million units, and 1.241 million units respectively; the average sales price was 176 yuan, 187 yuan, and 210 yuan respectively. Among them, in fiscal year 2023, the volume and price of POS terminals and PDA products both dropped.
According to the prospectus, during the track record period, Rongda United States sold its products to no less than 30 provinces, municipalities and autonomous regions in China, including but not limited to Beijing, Fujian, Jiangsu, Zhejiang, Sichuan and Guangdong, as well as more than 140 countries, including but not limited to the United States, Malaysia, Spain, France, Argentina, Brazil and the United Arab Emirates.
According to public information, Xu Kaiming, aged 42, founded Rong Da Ge Zhong and was appointed as a director on December 20, 2010. Subsequently, he was reassigned as an executive director on March 26, 2024. He was appointed Chairman of the Board of Directors on October 14, 2019, General Manager of the Company on October 28, 2019, and Group President on May 23, 2022. Xu Kaiming is responsible for leading the board of directors and the overall management of the group, and participating in the group's operation and strategic planning. Xu Kaiming has more than 13 years of experience in the AIDC device industry.
Xu Kaihe, 41, founded Rong Da Group and was appointed as a director on October 14, 2019. Subsequently, Xu Kaihe was reassigned as an executive director on March 26, 2024. Xu Kaihe is responsible for the overall management of the group and participates in the operation of the group, and is responsible for overall research and development.