Longcheer Technology issued an issuance announcement on the evening of February 20, with a public offering of 60 million shares, and the company's total share capital after the issuance is about 46.5 billion shares. The issuance ** is 26 yuan shares. The online subscription will begin on February 21, 2024, and the total amount of funds raised is expected to be 15600 million yuan. This subscription is referred to as Longqi subscription, and the subscription ** is 732341, which is lower than the average static P/E ratio of the issuer in the industry released by the China Securities Index *** in the last month of 2550 times, which is lower than the average static P/E ratio of comparable companies in the same industry of 2516 times.
Longcheer Technology is a company mainly engaged in ODM of consumer electronics, and its product range covers smartphones, tablets, AI PCs and AIoT products. According to Counterpoint, Longcheer ranked first in global smartphone ODM IDH shipments in 2022, accounting for 28% of the market share. In 2021, Longcheer ranked third and fifth respectively in global tablet and smartwatch shipments.
As a key industry enterprise supported and encouraged by the national industrial policy, Longcheer Technology has a broad market space. The company's business model is stable, large-scale, and has long been at the forefront of the global industry. The company is a representative high-quality enterprise in the ODM industry of smart products, and is favored by the market and investors. The smooth implementation of the raised funds investment project will help improve the company's ODM delivery capacity of smart products. This project is expected to provide strong support for the company's sustainable development by expanding and extending the company's existing main business and core technology. The successful implementation of the investment project will further increase the company's production capacity, meet the needs of the company's business growth, help maintain sustainable competitiveness, effectively improve the company's profitability as a whole, and maximize shareholder value.
As one of the leading ODM enterprises of smart products in China, Longcheer Technology is ready to meet a new wave of growth in smart product manufacturing by increasing R&D investment and improving the efficiency of itself and the industrial chain. According to the prospectus, the funds raised by this IPO will be invested in the Huizhou intelligent hardware manufacturing project, the Nanchang intelligent hardware manufacturing center reconstruction and expansion project, and the Shanghai R&D center upgrade and construction project. At the same time, the company will also actively fulfill its social responsibilities, further invest in environmental protection, public welfare and other fields, and make greater contributions to the society.