A-share subscription | Ruixiang Intelligent (920178.BJ) opens subscription, continuously deepening the field of intelligent manufacturing equipment for FPC

On April 27th, Ruixiang Intelligence (920178.BJ) started its subscription with an issue price of 29.47 yuan per share and a subscription limit of 618,500 shares. The price-to-earnings ratio is 14.99 times, and it belongs to the Beixiao Exchange, with Guotai Haitong as its sponsoring institution. The prospectus shows that Ruixiang Intelligence is a high-tech enterprise specializing in the research, development, design, production, and sales of intelligent manufacturing equipment. The company focuses on the intelligent manufacturing equipment field, selecting the intelligent manufacturing equipment field in the FPC industry chain as a development track. After many years of operation and accumulation, the company has formed a series of precision punching and cutting, mounting assembly, and precision pressing core process production equipment products in this field, as well as the development of intelligent manufacturing equipment with supporting processes such as logistics automation, tearing, bending, sorting, packaging, and the ability to solve entire line automation solutions. Currently, the company's intelligent manufacturing equipment types have basically covered the core processes of the FPC dry process, making it one of the few suppliers in the industry that can provide intelligent manufacturing equipment for multiple core processes of FPC and overall line automation solutions. Ruixiang Intelligence has accumulated a series of core technologies in five major areas, including precision mechanical structure design, material stress variation control, high-speed high-precision motion control, high-precision visual positioning, and deep learning defect visual inspection. The company uses these core technologies to develop and provide customers with high-precision, high-quality intelligent manufacturing equipment and complete line automation solutions, helping customers achieve intelligent upgrading of production lines and improving production efficiency. With high-quality product performance, stable delivery capabilities, and rapid response technical services, the company has gained widespread recognition from downstream well-known enterprises and has become a qualified supplier for well-known companies such as Suzhou Dongshan Precision Manufacturing, Mektec Group, Sumitomo Electric Industries, Huatong Computer, Shenzhen Kinwong Electronic, Luxshare Precision Industry, Anjieli, Avary Holding, and others. The company's products indirectly serve renowned global consumer electronics giants such as Apple and Huawei and leading companies in the new energy automotive sector such as Tesla, BYD Company Limited, and Contemporary Amperex Technology. Based on nearly twenty years of technology accumulation in the FPC field, Ruixiang Intelligence has completed a key transformation from a professional equipment manufacturer to a provider of complete line solutions, and continues to deepen its strategic path of empowering customers with information technology and intelligent upgrading. In terms of product innovation, the company accelerates breakthroughs with a dual-drive strategy of "horizontal expansion and vertical extension": horizontally developing new types of equipment to enhance production line coverage, and vertically entering the module assembly field based on mounting technology advantages to successfully enter the supply chains of top enterprises. The funds raised in this issuance will be invested in the following projects after deducting issuance expenses, the details of which are as follows: Financially, the company is expected to achieve operating income of approximately 410 million yuan, 545 million yuan, and 598 million yuan in the fiscal years 2023, 2024, and 2025, respectively; during the same period, net profits are expected to be approximately 91.3 million yuan, 119 million yuan, and 129 million yuan, respectively.