**Tongbao Optoelectronics' Listing Application Has Been Approved and Accepted**
*Release date: September 13, 2017 | Source: China Light Network*
Tongbao Optoelectronics recently submitted its prospectus, marking a significant step in its journey toward an initial public offering (IPO) on the Shenzhen Stock Exchange. The company’s share issuance plan involves less than 18.8 million shares, with the total number of shares not reaching 5.18 million. As a result, the company temporarily suspended its SME board trading. However, it confirmed that its listing application has been approved by the China Securities Regulatory Commission (CSRC), and the formal process is now underway.
Specializing in the design, development, production, and sales of automotive LED modules and LED lamps, Tongbao Optoelectronics offers a comprehensive range of products for vehicles. These include combined lamp modules, turn signal modules, daytime running lights, position light modules, brake light modules, door light modules, and interior ceiling light modules. Its LED lighting products cover daytime running lights, turn signals, and brake lights. The company was listed on the New Third Board in July 2015.
Its primary customers include major vehicle manufacturers such as SAIC-GM-Wuling, Lifan Motors, Lifan Passenger Vehicles, Xingyu Shares, Nanning Yuwang, and Da Maowei Rui Ke. During the reporting period, the top five customers contributed significantly to the company's revenue, accounting for over 80% of its total income each year.
In the first half of 2017, the company reported operating revenue of 168 million yuan, a 48.64% increase compared to the same period last year, with net profit reaching 42.58 million yuan, up 40.42% from the previous year. From 2014 to 2016, the company's operating income grew steadily, reaching 56 million, 129 million, and 216 million yuan respectively, while net profits increased from 5.76 million to 50.65 million yuan.
Additionally, as of now, Tongbao Optoelectronics owns a wholly-owned subsidiary, Tongbao Lighting, which reported losses in 2016 and the first quarter of 2017, with net losses of 86.28 million and 22.28 million yuan, respectively.
According to the prospectus, the company plans to raise approximately 326 million yuan through its IPO. Of this amount, 154 million yuan will be allocated to automotive LED module projects, and 172 million yuan will go toward LED headlight assembly manufacturing. The company noted that its annual capacity utilization rate was around 80% between 2014 and 2016, rising to 109.69% in January–March 2017. The new projects aim to expand production capacity, boost sales, and enhance overall competitiveness and profitability.
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Tags: LED, LED lights, door lights, ceiling lights, lighting, LED lighting
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