Leju Finance Wang MinOn December 28, Hunan Wuxin Intelligent Technology Co., Ltd. (hereinafter referred to as "Wuxin Technology") applied for an IPO on the main board of the Shanghai Stock Exchange, and CITIC Co., Ltd. was its sponsor.
According to the prospectus, Wuxin Technology plans to raise 151.6 billion yuan, which will be used for the service capacity improvement project of intelligent cantilever bridge building machine (hanging basket), the service capacity improvement project of formwork support system, the complete equipment manufacturing project of intelligent bridge component prefabricated production line, R&D center and information construction project and supplementary working capital.
In terms of performance, in 2020, 2021, 2022 and from January to June 2023 (hereinafter referred to as the "reporting period"), Wuxin Technology achieved operating income of 95.7 billion yuan, 104.2 billion yuan, 126.1 billion yuan and 78.7 billion yuan;During the same period, net profit attributable to owners of the parent company was 18.2 billion yuan, 14.9 billion yuan, 18 billion yuan and 14.3 billion yuan.
During the reporting period, the total sales amount of Wuxin Technology to the top five customers accounted for the proportion of the current operating income respectively. 63% and 8326%, the issuer's sales concentration is relatively high, and the customers are mainly large central enterprises and state-owned enterprise construction enterprises, whose business development is closely related to the downstream infrastructure construction industry.
The predecessor of Wuxin Technology, Wuxin Steel Mold, was a limited liability company established by Xinyun Machinery Factory of the Fifth Bureau and Sixth Company in accordance with the relevant policies of separation of main and auxiliary enterprises and auxiliary restructuring of large and medium-sized state-owned enterprises.
In terms of equity, the shareholding structure of Xingzhong Technology, the controlling shareholder of Wuxin Technology, is scattered, and the company has no actual controller.
As of the signing date of this prospectus, Xingzhong Technology directly held 73,088,712 shares of the company, accounting for 91 of the company's total share capital before the issuance36%, which is the controlling shareholder of the company.
As the controlling shareholder of Wuxin Technology, Xingzhong Technology has a scattered shareholding structure, and there is no single shareholder or related shareholders who control more than 30% of the shares of Xingzhong Technology, and no single shareholder and related shareholders can have a decisive influence on the resolutions made by the shareholders' meeting or the board of directors of Xingzhong Technology, so there is no actual controller of Xingzhong Technology during the reporting period. As a result, the issuer also has no actual controller and there was no change in such status during the reporting period.
It is worth noting that in March 2021, after Wang Xiangjun's death, his 11% stake in Xingzhong Technology was inherited by his children Wang Xincheng and Yu Xiaoya, and the two obtained % of the shares respectively.
At present, the largest shareholder of Xingzhong Technology is Wang Xincheng, with a shareholding ratio of 852%；At the same time, Wang Xincheng also serves as the chairman and general manager of Wuxin Technology. It is worth noting that Wang Xincheng is actually a "post-95" born in November 1996.
According to the data, Wang Xincheng, male, Chinese nationality, no right of permanent residence abroad, born in November 1996, bachelor degree, assistant engineer. He is currently a representative of the Sixth People's Congress of Huaihua City, an executive member of the Hunan Provincial Chamber of Commerce for Industry and Commerce, the executive vice president of the Youth Chamber of Commerce of the Hunan Federation of Industry and Commerce, and the vice chairman of the Huaihua Federation of Industry and Commerce of Hunan Province. From September 2019 to April 2021, he served as the assistant to the chairman of the companySince April 2021, he has served as the chairman of the companySince December 2021, he has also served as the general manager of the company. Since April 2020, he has served as the director of Wuxin Tunnel InstallationSince April 2021, he has served as the chairman of Xingzhong TechnologySince May 2021, he has served as the executive director of Wuxin InvestmentSince June 2021, he has served as a director of Wuxin Heavy Industry;Since May 2021, he has served as the executive partner of Changsha SongyaSince June 2021, he has served as the executive partner of Changsha Dingyao.
Wuxin Technology is a leading provider of special equipment and system solutions for transportation infrastructure, mainly engaged in two major businesses, one is the research and development, production, sales and leasing of special equipment for road and bridge construction, and the specific products include information-based bridge component production lines, whole-hole beam formwork, segmental beam formwork, pier body formwork and cap beam formwork, hanging baskets and trestle bridges, etc.;The second is the integrated service of building safety support, which is mainly for professional subcontracting and leasing of formwork.
With high-quality products and perfect services, Wuxin Technology has established long-term cooperative relations with large central enterprises such as China Railway, China Railway Construction, China Communications Construction, China State Construction, as well as large local state-owned enterprises such as Zhejiang Jiaogong, Shanghai Urban Construction, Sichuan Road and Bridge, Guizhou Road and Bridge, and Hunan Road and Bridge.