**Tongbao Optoelectronics' Listing Application Has Been Approved**
*Release date: September 13, 2017 | Source: China Light Network*
Changzhou Tongbao Optoelectronics Co., Ltd. recently submitted its prospectus, marking a significant step in its journey toward listing on the Shenzhen Stock Exchange. The company had initially planned to issue less than 18.8 million shares, but due to insufficient demand, it temporarily suspended its SME board share transfer. However, the company has confirmed that its listing application has been approved by the China Securities Regulatory Commission (CSRC), and the process is now underway.
Specializing in the design, development, production, and sales of automotive LED modules and lamps, Tongbao Optoelectronics offers a wide range of products, including combined lamp modules, turn signal modules, daytime running lights, brake light modules, door light modules, and interior ceiling light modules. Its LED lighting solutions are widely used in various vehicle applications, such as daytime running lights, turn signals, and brake lights.
The company's main clients include major automakers like SAIC-GM-Wuling, Lifan Motors, and Xingyu Shares, among others. During the reporting periods, revenue from the top five customers accounted for a substantial portion of the company’s total income, highlighting its strong market position and customer relationships.
In the first half of 2017, Tongbao Optoelectronics reported an operating income of 168 million yuan, reflecting a 48.64% year-on-year increase, with net profit reaching 42.58 million yuan, up 40.42% compared to the previous year. From 2014 to 2016, the company steadily grew its revenue, reaching 56 million, 129 million, and 216 million yuan respectively, while net profits rose from 5.76 million to 50.65 million yuan.
Despite this growth, the company's wholly-owned subsidiary, Tongbao Lighting, faced financial challenges in 2016, with a net loss of 86.28 million yuan, and continued losses in the first quarter of 2017, recording a loss of 22.28 million yuan.
According to the prospectus, Tongbao Optoelectronics plans to raise approximately 326 million yuan through its IPO. Of this, 154 million yuan will be allocated to automotive LED module projects, and 172 million yuan will go toward LED headlight assembly manufacturing. The company expects these projects to enhance production capacity, expand sales, and improve overall competitiveness and profitability.
As the company moves forward with its listing strategy, investors are closely watching its progress and potential for future growth.
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Tags: LED, LED lights, door lights, ceiling lights, lighting, LED lighting
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